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Hiding cash under the mattress?

The first edition of my WISH Workbook was sixteen pages in length. I considered it to be quite thorough, and a lot of thorough thinking went into compiling it. It had everything anyone would need – just in case something happened to you. Or was it...?


It was my husband who mentioned to me: "What about cash? Tons of people still hide cash under the mattress. What if something happens to them? What happens to that secret stash?"


Sweet, sweet cash. Keep it in the bank! And let someone know it's there.

He was right. I immediately thought of my Uncle, who's been known to do this sort of thing. Except for the fact he doesn't hide it under the mattress, but in a special "secret" are of his house. It's part of the building, nobody would find it there. If something happened to him and his house were to be sold, NOBODY would probably find it unless the place was trampled on by a bulldozer. (I won't tell you where he lives! ;)


Some of us know about this secret (obviously), but Kevin's right: There are LOTS of people who hide cash 'somewhere'!


Instead, save yourself the aggravation and worry, by NEVER hiding cash at home. Ever. Instead, put it in a registered bank, and as long as it's under $100K (that's $100,000 for us non-financial people), it will be protected and automatically insured through the CDIC (Canada Deposit Insurance Corporation). Note: Not all financial institutions are members of CDIC; to be sure, check HERE.


If you are blessed with having more than $100K, then open different checking and savings accounts for each lump of cash - it will all be protected.


Then, please consider ordering a WISH Workbook. There's a reason why I wrote it, and it will help your family a whole lot of heart-ache, should something happen to you. It's worth every penny.

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#WISHworkbook #SuzannesWISH #CDIC #insurance #cashUnderMattress #advice #moneyMatters


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