Stashed away money - help!

margaretclare

Janey3 wrote: »

Your Gran is from a generation who did keep money stashed about the house, my late Mum was the same, despite my trying to get her to keep it in the bank. It made her feel secure that she always had money readily available. She lived so frugally and hardly spent anything, and the money soon racked up. We told her many, many times that the world isn't the same now as it was in her day, when doors were left unlocked, but it didn't make any difference.

Well, I'm from that generation (born 1935) but the thought of having anything more than a tenner or so to hand would scare me to death. I once had to withdraw a few hundreds in cash to make a payment - only certified cheque or cash was accepted - and it frit the life out of me. I insisted that DH walk down the street with me. I didn't want to walk down an ordinary street in an ordinary town, alone, with that in my handbag.

We had an 'opportunist burglary' a few years ago. It was on a hot evening, bedroom windows (in the bungalow) were left open, someone obviously small and agile climbed in and took my handbag. They only got the odd fiver from my purse! An unsophisticated criminal obviously, because credit cards, mobile phone and jewellery were left alone.

Most opportunist or distraction burglars are well aware of all the favourite hiding-places - knicker drawer etc. That's how one reads so many reports that 'they were in and out within a couple of minutes'. They don't have to ransack the house, they know exactly where to go.

And yes, I do remember when doors could be left unlocked. It used to be traditional where I grew up, in rural Yorkshire, that if you went to see someone and they were out, you could tell whether they'd be a long or short time by the way the fire was banked up. You could sit down and wait for them - that was accepted. Not now!

Barneysmom

My neighbour died last year and he had thousands in little hidden places all round the house. I think it's sad really, you can't take it with you....
Crazy thing is, I'm exactly the sort of person who will do this in my old age..

The only thing you can do is talk to her about it and ask her what she wants you to do with it.

hermum

The OP's Gran, probably isn't trying to defraud anyone. Is just of the generation who didn't trust banks, let's face it in the past couple of years they've been proven right. My Nan, always kept her money in separate purses for different things, gas, electricity etc & bought stamps form the PO for phone, tv license. She's probably drawing out her pension each week as a lot of older people don't understand the banking system, cheques, debit cards etc.
OP I would talk to your Gran about the safety aspect of keeping money in the house, other than for her immediate needs. Maybe she would be happy with an ING account through the post office.
Also see if you can find out how her bills are paid, in case she doesn't use direct debits for things.
I hope that she's soon better & back at home, preferably one that isn't hiding lots of cash.

Mojisola

You could have a good look around the house and see if there are any improvements that could be made to make her life easier and spend the cash on those. Lots of older people keep "managing" with old and inconvenient things round the house. A new bed, new furniture, updated bathroom - there's lots of ways to spend the money which will benefit her. See what she thinks.

Farway

Mojisola wrote: »

You could have a good look around the house and see if there are any improvements that could be made to make her life easier and spend the cash on those. Lots of older people keep "managing" with old and inconvenient things round the house. A new bed, new furniture, updated bathroom - there's lots of ways to spend the money which will benefit her. See what she thinks.

My mother used to have cash stashed around, and like many from that generation she would not buy anything to make her life more comfortable, remember they grew up in austere times and "chucking money away" on new furniture when you are 80 odd is not for them

And why should they spend money just because they can? If it aint broke don't fix it

Mojisola

Farway wrote: »

And why should they spend money just because they can? If it aint broke don't fix it

My parents are 80+ and they have made their lives much more comfortable by, for example, buying new furniture which is higher so they can get in and out more easily.

Stuff round the house might not be broke but human bodies do get more frail and, if the OP's gran wants to do it, why shouldn't it get spent to make her life better?

magpiedawn

I know nothing, you know nothing BANK it and use it to make your Grans life easier, she would prob like to stay in her own home, a stair lift, a walk in bath/shower, a wheel chair, a career, a holiday.

And yes i know from personal experience, i had elderly parents, who were entitled to help with care needs a stair lift wheelchair respite care all for FREE.

They had some savings that they wanted to leave to me an only child.

I used the money despite the protests to buy them what they needed now instantly no waiting for months or years and it made there lives easier at the time my dad died and my mum came to live with me for the last 8yrs of her life she was 94 when she went and i payed for her funeral there was no money left but their life was made easier and they had everything they needed they earn't the money and i spent it for them.

I have no regrets and no money of my own, but i didn't want their money left to me, when they needed it.

magpiedawn

Ok it's late and i forgot to mention yes there were insurances that my parents payed into to bury them, for most of their lives as did most people of that generation, so they could die happy .

And when push came to shove it was enough to purchase some really nice flowers and that is about all

Torby

scotsbob wrote: »

Taking money that doesn't belong to you, without permission, and putting it in a bank account in your name is theft.

isn't that what the government would like to do?

I find this scenario ridiculous, it's probably very likely that she has saved from her benefits over the years and set it to the side , could be for her burial or, so she feels when she dies she has left something tangible for her heirs...

here's the rub....she has "saved" from her benefits etc....but if she saves "too much" in the eyes of the government, they want it back?....shame on the government

you can be doped up on drugs, entitled to free housing etc , get loads of cash for your illness, spend it on stuff that either goes up your nose on in a vein, rob old grannies like this to feed your habit...basically squander ALL the benefits you get and no one says boo....but if you save it...the government wants it back....pathetic...

personally...I would discuss it with her, see what her ideas are and suggest it's kept somewhere more secure, she may want to bequeath it, she may....as in a few cases I know, want to make sure her relatives aren't hit with a big bill to bury her when her time comes....preparation ...thats what the older generation did, they don't belive in accruing debt...or indeed, causing others to go into debt to bury them when they are gone.

as for the government...tackle the real problem in this country, not the older generation that did so much in their lifetimes to make the country what it was before all these PC and do gooders take over...human rights?....what about our older generation?

margaretclare

Torby wrote: »

personally...I would discuss it with her, see what her ideas are and suggest it's kept somewhere more secure, she may want to bequeath it, she may....as in a few cases I know, want to make sure her relatives aren't hit with a big bill to bury her when her time comes....preparation ...thats what the older generation did, they don't believe in accruing debt...or indeed, causing others to go into debt to bury them when they are gone.

I agree with all of this. I remember being told about my grandad's distress when my granny died. I don't remember, being 3 at the time, but apparently he couldn't pay for her funeral except in stages, which the local carpenter/funeral director allowed him to do because he was - apart from his poverty - a respectable member of the village community whose honesty was beyond doubt. But it upset him. He apparently growled to my mother 'Get that bairn insured'. 2 out of 4 of his own children had died before their 2nd birthdays, of whooping-cough and its complications - this is before the NHS and mass vaccination!

I learned the habit of saving in that desperately-poor family, before benefits, the only state aid that came into the house was grandad's old age pension. I'm still saving because DH and I just do not know what may be around the next corner, what may happen in which a little money may help, by providing choice or convenience, oiling the wheels as it were.

But I would NOT leave large sums anywhere in the house, no matter how well-hidden I might think it to be, which is what this thread is all about. The bank is the place for it.