Silly Sunday: Is Your Money Safe?

One of the things that you have to be concerned about is the safety of your money. One of the best ways to keep your cash safe is to store it in a bank account that is insured by the FDIC. The FDIC makes sure that you get your money back (up to $100,000 per account, although those limits are $250,000 through the end of the year). Keeping your money in an interest bearing account also helps you get a return from your money. Try high-yield savings accounts and CDs for better results.

Having your money in an interest bearing account is much better than having it earning nothing. As is the case if you just hoard it at home. Another thing to realize is that hoarding it at home also makes large amounts of money vulnerable to flood, fire and burglary. This commercial from the PBS show Nightly Business Report does a good job of illustrating that it really is okay to keep your money in the bank.

Enjoy the rest of your weekend.