As we see America heading down a rough road, how do you all feel about keeping your money in banks? I mean, right now, things seem to be alright, but say we continue to see the American economy getting worse. Would you pull your funds out of the bank to keep them safe?
Now my husband and I think differently when it comes to this, but I would like to, for now, put half our money in the savings and half will go in our fire proof box in the house. Once things get worse, I would pull all our money out and keep it with us.
How do you all feel about our banks and credit unions? If this recession worsens (which it probably will), what do you think will happen to these financial institutions? Do you think there could possibly be another stock market crash?
Your thoughts and opinions more than welcome!
I thank you all for the comments left yesterday! It's nice to know I am still considered sane by the human race. :-)
Enjoy your Saturday!
Dawn
Saturday, March 8, 2008
In keeping with yesterday's post...
Posted by Dawn at 7:44 AM
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11 comments:
If the dollar crashes though it wont matter how many you have stashed away. You would need to change it into gold before it crashes.
My mom and dad have been buying gold and silver for a long time. If everything does get worse your dollar wont be worth anything but a tissue.
We don't have to worry much about our money in the bank. We never have anything much after bills are paid anyway. LOL
Rebecca
When you say buying gold and silver...do you mean the coins or those brick type things?
Where can I buy these?
Well, for starters, I would not mention socking away money in my home, on a public blog!
If you were to do that, no one should know about it.
Paula
Don't worry Paula..as of right now, we have no money in our home. In the future yes, but I will be moved into a new country, city and state by then. :-)
Who knows, hubby may not even like the whole idea of having money in the home, it was just a suggestion I was thinking about.
Jack and i were talking about the economy and all the other day. I don't know where it is heading but we will just take it as it comes.
Dawn,
My parents get coins and small square things that looks like a bite size hershy bar. LOL They also do not keep the coins at there home. They have a safe place some where else. I can't say where they get them cause I have never asked. LOL
Rebecca
Oh, I was talking to Ray about stalking up like I once did with medical supplies and other things. He agrees it would be be a good idea. So was are already looking into where we are going to put things as we get it. In this area climate control is important. I don't use much closet space so we are thinking my side of the closet is a good start.
Rebecca
http://catalog.usmint.gov/webapp/wcs/stores/servlet/CategoryDisplay?langId=-1&storeId=10001&catalogId=10001&identifier=1000
That is one source for gold and silver. But you can buy it cheaper from coin catalogs, or coin shows usually.
In our experience, Credit Unions treat us better than banks. We've been with our current credit union for 6 years now, and they've NEVER done us wrong - even when my husband was brand new with them. However, if things start turning south...dunno what we'll do, but we'll figure it out.
I think about this sometimes. I might think about pulling the money out of the banks but then again it all depends on what the husband decides to do.
It's so depressing to see the dollar not have the value it once did.
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