Reason no. 3: You could lose your money
Have you ever considered that your money could be lost due to fire? In 2019 alone, there were approximately 481,500 structure fires, according to U.S. fire departments. This means that a fire occurs more often than you might think, so are you willing to take the risk?
Or maybe you’d like to exclude fire from the equation and that’s okay. But, if it’s not a fire, you could eventually lose your money because of an unexpected ‘guest.’ As astonishing as it may be to you, according to the FBI, a burglary happens every 13 seconds.
So, how safe is your money?
A certified financial planner, Jason Speciner says that you should keep cash in your house only to cover one week of essential expenses. He also adds that it is crucial to do so especially if you live in a state that’s more prone to certain natural disasters like hurricanes, wildfires, and earthquakes.
