i heard sales of home safes are up 40% whos got one?

Cleaver

Oblivion wrote: »

We've come up with a cheap and novel way of safe-guarding our savings.

We are feeding all our bank notes to the cat, and storing the resulting effluent in sealed bins.

Once the financial crisis is well and truly over, I just need to track down an efficient Cathasshitit Converter to restore our wealth. :rotfl:

Dave.

Can't believe no one else has 'thanked' a post with such a wonderfully awful pun.

Hungerdunger

Just a word of warning if anyone is considering keeping serious amounts of money in it: check with your insurance company to what level they will cover it. When I was self employed, I had a heavy duty "commercial" safe in the business premises, but even on this serious piece of kit, the insurance limit was £15k. For a home safe I'd imagine it would be much less.

Oblivion

Cleaver wrote: »

Can't believe no one else has 'thanked' a post with such a wonderfully awful pun.

But you can take the credit for being the first Cleaver. In times like this, the key to survival is the ability to laugh at life. Good for you.

Dave.

trader_girl

As our business friends have found out over the years, never keep your money in a safe, its the first thing a proper burglar looks for, and if they are serious they will take the safe, lock, stock and barrel with them.
on the other hand never keep your money in a bank either, the tax man likes to count it!
i would tell you where the safest place is, but then i woud have to kill you lol.

Sailor_Sam

When i was a taxi driver, always had cash in the house.
Bought a safe off an old man who use to get in regular for £10. It' about 2'6" and weighs about 3cwt, empty now.
Intend doing a will soon so will be handy again.

Oblivion

Crapula wrote: »

I pity the cat that has to process your savings portfolio.

I'm sure she won't be the first cat to suffer from Piles. Fortunately, regular fixes of Moggydon seem to be keeping a smile on her face. :rolleyes:

Dave.

amcluesent

I've got a basic one, in the corner of a bedroom cupboard with expanding bolts to secure it to the load bearing wall. Very difficult to get leverage on it and, I hope, with the alarm going the run of the mill burglar isn't going to wait to pick the lock. Of course, these CHinese safes may be like Ford cars where about 10 keys would open every door lock.

17Dave

The best place to locate a safe, even if fire proof, must be below the ground floor as heat rises. OK so not quite so good if you live in a flood risk area, but watertight containers are fairly cheap!!

debbie42

I was told that fireproof safes can lose all their effectiveness if they fall from a height through floorboards, so the ground floor is the safest place for them.

LongTermLurker

Safes are certainly a great idea in general, but as I've just posted on another thread, the inference that money's better in a home safe rather than a bank makes me think:

How much does a good quality safe cost, and what percentage of your savings would that be?

Add that to the 7.15% already "lost" because you've received no interest (feel free to deduct the income tax you would have paid) and then add on the 5.x% inflation that will be eating into your cash, and take the grand total as a percentage off of your savings - that's what they will be worth in a year.

I guess once you know that, it's a case of risk vs reward.