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Americans Think Stashing Their Money at Home Is Safer Than Most Bank Accounts, Survey Finds
According to a recent survey by GOBankingRates, nearly 25% of Americans think their money is safer at home than most other places. And that’s understandable.
With recent bank failures making headlines and economic uncertainty, it’s no wonder Americans don’t trust the banking system. And while 35% of Americans still think that a savings account is the safest place to stash cash, a quarter of you don’t trust the banks.
Here are a few reasons Americans might distrust financial institutions, and a few reasons keeping your money at home is actually riskier than the bank.
Why 24% of Americans Stash Their Cash at Home
There are several reasons Americans prefer to keep their money at home instead of in a financial institution.