Word of the Week: Scam

Word of the Week: Scam
Other words for Scam: Swindle, Con, Fraud, Bunco, Diddle, FlimFlam, Gyp, Racket, Sting, Hustle

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Fake Check Scam - Fake Check in the Mail

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Cash Stash at Home for Savings and Loan

At some time in our life, many of us have put money away in one of the following ways, "Frozen Funds" or "Cold Hard Cash Stash", both of which utilize the fairly fireproof refrigerator or freezer. If one of those doesn't sound familiar, what about "Mattress Savings and Loan"? Then there's the one where a person might have their dog dig a hole for the "Savings Jar", Yet another is of course, "Grandmother's Cookie Jar"!

Most have also heard stories about an elderly person who passed away living at poverty level, only to later discover they were actually very well off, had they only accessed some of their mattress savings and loan cash!

The elderly are not the only ones who have utilized mattress savings and loan, as most of us at one time or another have been subjected to fears of what might happen to our money if we saved or invested it elsewhere. With the current economic status, that fear has become reality as we have watched financial institutions crumble.

Although savings and investment rates may not always be what we anticipate, it's also easy to overlook the loss of purchasing power due to inflation, when we don't receive any return on funds. Something is better than nothing, so remember that mattress savings and loan provides no return on your dollar, and the value of your funds is quickly eroded by inflation as it may only help to inflate your mattress to a higher level of comfort.


Money Green Life said...

yeah, I have to agree with you. I don't understand people who stash their cash away. The only cash I have stashed away is my coin jar where I throw my loose change in their.

Money Illusions said...

Hi Money Green,
Thank you for contributing a comment. :)