By now, most of you are aware that the American banking sector is on the verge of a collapse and that the American government and others are working overtime to head off disaster.
Okay, so me, I no go lie. I dey fear! How are people managing? Banks are failing left and right. I can't help but think that in this day and age, it might be better off putting one's money under the mattress than in a bank, no matter whether the bank is insured or not.
So on Saturday, when my hubby came in from the golf course, we had the following conversation,
SolomonSydelle: "Baby, we need to have some serious cash on hand."
Husband: "What do you mean?"
S: "I mean, I want to make sure that if things go bad, I can buy plane tickets and we can get to Dominica and simply live on the farm."
H (laughing): "You don't want to fly to Nigeria, instead?"
S: "Hell to the naw!!! Besides Dominica is much closer, oh."
At this point, Husband is trying hard not too laugh too much and even I am smiling. But I continue to make my point.
S: "We need to have enough money on hand to handle things if the sky falls."
H: "Wifey, whatever happens, we can always go to an ATM and withdraw the money we need or just use our credit cards. Besides,..."
S: "Eh, eh oh! How do you know that? What if the banks run out of money?"
H (doubled over in laughter): "Baby, banks are insured. You know that. They can't run out of money..."
S: "Oh really? And did you think we would be talking about a $700 billion bailout plan for banks that are closing their doors left and right? What if the government stops people from withdrawing their money? They did it in Argentina some years ago. Also, what if credit completely freezes? After all, China owns America's debt, so if they chose to demand their money..."
H (not laughing anymore): "They wouldn't do that."
S: "Ah, but you know that they could."
After only 5 seconds of serious pondering, Husband looks at me and asks, "How much money do you want?"
lol! It's funny how with men all you have to do is point out the reality of things to them for them to get really serious.
Anyway, my people, where should I hide this money? I told Husband to hold off on bringing the money home until I think of a great hiding place. It has to be somewhere that the kids obviously cannot get to. Especially Bomboy, because he would simply eat it. TE would put it in her money bank and TK would simply use it to stuff empty bottles and/or throw it in the trash. It also has to be someplace that a thief would not immediately turn to.
I am of the opinion that I need to buy one of those fake Bibles that you can hide things inside. What thief would look in a Bible? lol!
But honestly, what do you guys think? Does it make sense to pull some money out of the bank? How much? And where would you hide your money if you had to? Am I the only person thinking this way? Should I just not do this at all?
Anyway, I hope you all have a blessed week and come back on Friday for a new TTTEC segment. Catch up on old installments and prepare yourself for the next one. By the way, TE lost one of her baby teeth recently, lol! She feels like she is a big girl now, lol! And, she washed dishes this morning, can you imagine? My goodness, these kids are getting big....
Happy 48th Birthday to Nigeria!!!!!! We shall all be in our green/white/green on Wednesday (the actual day of Independence). I will post a pick of my outfit on Friday. Aunty Verastical, you asked for it oh....
=)
52 comments:
wairraminute,....
LOL, no need to withdraw all your money just yet.
the worst that can happen is that ur money becomes completely useless.
what I understand about the whole 700B bailout thing is this: to keep the economy from grinding to a halt, people need to spend money.
banks can't give people the money to spend(credit) if they dont have it, that's why the government is providing the 700B.
so pple can still have access to credit.
I'm first, second too...and soon to be third!
that's it. I'm going back into hibernation!
ok hold up! did rapture just occur and every blogger went but me?
lol.madam,,,your fears are uunderstandable...but bumight has explained, no need to go that far...but if u insist on withdrawing..a desperate place to hide cash is inside your couch...
Bumight, go read ya book jo!
People withdrawing money is what caused WaMu to fail so quickly; over $16 billion was withdrawn from them in 10 days and they didn't have enough capital toi stay afloat. If you have a cent over $100K withdraw it and put it in a foreign account in somewhere like Cyprus or San Marino; otherwise your money is fine.
Its your stocks and other investments that are screwed, but at this point if you didn't pull out its hard to figure out if you just ride this out and fast and pray maybe they'll get some value in another 5 to 7. years or cut your losses and liquidate everything.
inside the pata drawer, generously sprinkle some previously used, soon to be washed patas on top.
even US immigration and customs no dey go near that one.
but as kpakpando put it, I am in the loss counting business now, watching years of investment disappear before my eyes and wondering if I take the loss against my taxes or just sit the whole thing out, and see where the years lead us. I am still continuing to buy though.
Umm bumight if you had to ask that, you better go amd get right with God ASAP, you don't want to be left behind in the world we're currently living in lai lai.
@bumight - kai! 4 comments?! abeg e don do! release this page!!!
@SSD - i think it is bcos you pointed out the reality of money...money worries always gets men all serious...your well reasoned argument may have just helped him to realise that the credit cruch, crippled banking insdutry and the govt could put his hunter-gathering-provider status was in jeopardy!
pls are we going to see you in your outfit?
as 4 hiding it...i liked where the denzel character hid it in american gangster...buried under the bulldog's cage! that will stop TK and bomboy! well it would sure stop me!
Ex-Governor Alahaji Barkin Zuwo of kano state (1983) was always right in where to hide money.
I didn't know of that fake bible safe...lol
Did you tell TE that in Africa a sort of rat would take her milk tooth for a new one. Rats have nice teeth, I am afraid she would rather swallow it instaed of allowing a rat to take it.
As kids we normally sang and prayed for the rats to arrive and carry them from where our mother kept them. I supppose they promptly came because we all got nice dentations hahahahah
7th!!!
Sisi mi, I'll go the old and tried way. Hide am under ya bed (between the mattres and box spring or something, and keep some inside an envelope inside your disaster evacuation bag (or as some people call it, your in case of incasity bag), you can also use traveler's checks
Or like Doc Naaps said, nibi pata drawer ohh, or even inside your husbands favorite shoe (the one that even the children know not to touch)...
Hmmm...where else? Make I go tink dis one out.
LOL
See ehn, when you decide where you'll hide the money, please let us know and then gimme your address. Shebi na for Bowie you dey? I'll come pay you a little night visit.
lol @ the picture of ur outfit. Yes, I asked 4 it. Hurry up jo
I wonder if a Bible case is big enough to hide the kind of money you are talking about... :-? but if it is more than one of those...perfect place...
What about in the oven in the kitchen?
chai, can't believe bumight came not 1st but 2nd and 3rd place! I need to ramp up my blog stalking skills.. :-)
Re the banks, we just heard the news in England, UK that they bailout was a throw out. dem no gree kai! Well I can't blame them oh. A company goes burst and then the directors that made bad decisions get off with a $20miller handshake..!! lol.. I'm so in the wrong job eh!
As per money, u don't have to take money out ke.. I can't even think of where you will hide it that it will be safe - under the floor boards, carpet? Inside kettle fake layer :-))) The only thing I can advise each and every one of us is to hide our money in God's economy and cover it with the blood. No crunch or bank falling or whatever is going on will touch it.. cus it's marked..
before i got to the point where you mentioned a bible case i was already thinking in the same line....
i get the panic, bu i dont think you should be that panicked.
here in naija i and loads of others have watched our money trippling box(nse) crumble to almost nothing.
some of us have refused to sell and run to our bedrooms with the proceeds,we're holding on to optimism and speaking in tongues as we throw more money into the investment world and a soulfuly whispered 'e go better' after our amens.lol.
so i guess i'll use that optimism to tell you things would probably get better soon, 700b bailout or not. in the mean time goodluck with your temporary safe hunting.
Well if your serious the safety deposit box in the bank is legit, the money is safe and it's not in the system.
y not run to Naija...
if you have to hide the money, put it in a safe deposit box either in a bank or in a station
but I don't think it's gotten to that level yet..
i dnt think its dt bad and if u still want to ake out ur money, transfer it offshore.
lol @ Bomboy eating the money.
just give it to me, I can "hide" it for all of una o
shuoooooooooo
now that the bail out bid has been rejected...do what u want o..dont want you compiling the names of those who said you shouldnt withdraw and my name on it o..i have told you where to hide it,,but it seems dr.naaps has a more ingenious idea....
This credit crunh is too serious...wall street has had a kicking and we are feeling it here in the uk...its like dominos..all the bricks are falling...years of investments have crumpled overnight!!!
If the money is plenty..safety deposit box or widraw and hide under floor boards!! lol
@Remi UK;
"...is to hide our money in God's economy and cover it with the blood....." Remi
Please explain this God's economy affair. I am lost, though not like the sheep---the lost one: I am with the master but dont know his economy...
na wa oh, i'm surprised ur husband agreed sef. sha find somewhere safe to keep it oh, where vera will not find it. lol
@ Aunty "I'm not mediocre" Bumight: So you want my money to become useless eh? lai lai!!! Before the thing becomes toilet paper, I go use am well, well for chop betta food oh!
How you manage catch 1st, 2nd, 3rd and 4th position? Na you, biko oh!!!!
@ Simeoneomobaba: Inside the couch eh? Hmmmm, let me think...my couch is leather, so I have to cut out a compartment? Or do you mean under the seats? Hmmmm, that one mys children will find it. Especially TK, because he likes to remove the seat cushions and place them on the floor to make boats... long story.
lol! How are you doing?
@ Naapali: "inside the pata drawer, generously sprinkle some previously used, soon to be washed patas on top. even US immigration and customs no dey go near that one."
Buahahhahahahahaha!!!!!
Okay, I have to say that this suggestion is definitely in the running for the best one yet. let me check the other suggestions, but I think you just might win the cake with this one.
LMAO!!!! How now?
@ Kpakpando: Aunty, long time no see! how you dey? My sista, I do not have any money oh! Talk less of $100K or more!!!! lol! But, I just want some small money in case things go bad and I have to buy a cow or something for milk. With 3 kids, milk is not something e play with in this house. As for investments, well, em, em, I lost so much money on Microsoft years ago, I can't even imagine putting any money there right now even though this is apparently the time to buy.
Anyway, thanks for the advice, my sista. Hope all is well.
@ Shubby Doo: Yes oh! The prospect of not having milk in teh fridge for his children is enough to put fear in any father's heart. You are right.
As for my independence outfit, I am now getting cold feet because it is um, *clears throat* a little risque...
What was I thinking when I announced I would put a pictur eup? Mo gbe....
=)
I am no gangsta oh and have no bulldogs. After reading sting's post about pit bulls there is no way I would have any vicious animals in my house. 3 kids are enough. LOL!!!!
@ Uncle Chuks!!!: Hahaha, i should be asking Alhaji Zuwo were to hide moeny then, shebi? I didn't know rat had nice teeth oh. But your story would definitely tickle the girl's fancy considering our resident 'mouse'. =) Will definitely share that with her. Thanks so much for telling me!!!
@ Archiwiz: "nibi pata drawer" da da!!! lol!!!
I'm not sure about under the matress anymore. Just spoke to a friend who had her house robbed recently. The thieves lifeted the mattress. These thieves are getting smarter, or they been reading this blog or something...
=)
How now? Thanks so much for stopping by.
@ Aunty Verastical: eh? Them put mugu for my head? lai lai, I should be telling you where I hid the money ke? Who knows what kind of agberos you know and will send to my house oh! lol!!!!
As for the outfit, I am beginning to get cold feet oh. As I mentioned above, the independence day outfit is a little risque. Well, just a tad bit. lol!
Do you still think I should put it up?
@ Rita: You are right, that would be a really big Bible, shebi? lol! But that oven idea is solid. Who looks in an oven, right? Kai, you are definitely tied with Uncle Naaps Underwear drawer idea.
@ Remi, UK: Yes, i am also in the wrong job. I heard the head of merrill Lynch was only on the job for 16 days but still made off with a killing once the org fell apart.
A, I don't have any kettles but like Rita's oven idea that could be a good place, right? But, "god's economy" is definitely the best place for any money. Please, tell me the closest location for a branch in my area. =) Just kidding. But please let us pray for everoyone because we will all be impacted by this financial wahala.
My sista, thanks for the very sound advise!
@ fantasy Queen: Ah, thanks for the advise. I believe that things will get better as well, but I just can't sit by without a little extra money on hand in case of incasity. I am a pessimistic optimist. I believe that the worst can happen and prepare for it so i can be pleasantly surprised when everything goes well. lol!
How you dey? Long time no see.
@ clnmike: A safety deposit makes sense too. I never even thought of it, you know. Hmmm, what if the doors of the bank are locked and I need my money in the very middle of the night, that could be a problem huh? lol!!! Okay, I need to stop...
@ webround: hey, stranger, how body? Run to Naija ke? The flight is far too long with 3 kids. Getting to Dominica means a flight to Puerto Rico )3 hours and an hour to Dominica. Or 3 hours to St Lucia and a 45 minute ferry to Dominica. Much cheaper, and shorter travel times versus flying through Europe to Naija or even a direct flight, I think.
Anyway, I hope you are right and that my precaution will prove unnecessary sha.
Hope all is well with you and yours.
@ Toluwa: It technically isn't that bad, I just worry that it could become bad overnight and that we wouldn't be ready. Don't mind me.
And yes, Bomboy would eat that money quick, quick.
@ God's child: see ya mouth!!! You will hide money for me eh? Fine. What do i have to do to get it back? lol!
@ Simeoneomobaba: lol!!!!!! So you have come back to tell me that I should start hiding my money eh? You are too funny!!!!
@ Jarrai: Kai, the money no plenty at all oh! But as of right now the top hiding spots are the underwear drawer, the oven and the kettle. =)
Hope all is well!
@ Rayo: yes, I must hid eit from Vera and her agbero padis mehhhnnnnn. lol!!!!!
LOLLL @ this post. I think u shd leave the money in the bank. You'll be fine. It's dangerous to hide cash any where...the best place is actually in the bank. I strongly doubt that America will stop citizens from withdrawing money...*giggles* (I didn't know that fact about Argentina...wow. That's stringent).
How's hubby and the kids?
whatever una talk, una know say this woman go still take out the money!
Well...I have one of those ceramic jars where I put coins...its in my kitchen...Its a huge jar which I just leave on one of the shelves but I guess cos of the kids you might wanna keep it out of sight...in one of the top shelves perhaps? behind the garri? or inside the bag of garri? ehehehehehehehe
@chukbyke.. lol.. re God's economy, have a look at my page, I just put a post explaining this.. :-)))
@Solomsydelle, yes oh.. some of these directors will do 7 days job and get some serious miller for it. This is why I don't blame the taxpayers for saying no. But if they do say yes, they need to make sure that the average Joe on the street gets the benefit of the interest on this investment oh. and maybe they should freeze tax for the next few years even! kai...
i'm thinking that if it all goes south and my credit card company go bankrupt then i don't have to pay them
so yeah
i would go from -15(insert number of zeros here) to 0.
so yeah this actually helps mii
lol
what happened to good ol' digging a hole in your yard and burying it there? our forefathers got away with doing that. lol
Thieves have a hidders book.
A fake Bible is right there on the second page. Right after your drawer of panties.
Personally i've always believed in the direct approach.
Hiding things in the open.
Be creative.
Make a bib out of some of the money.
Hide some in the hollow of your tissue rolls.
Open up the TV ( assuming it;s not a flat screen) and stash a bit behind.
(See the book "Emergency guidance for quick conversion of TV" if you have problems.)
In the end though. Nothing beats the old fashioned method.
Pack all your money into an envelop and mail it to Nigeria.
I'll keep it for you.
Honest!
Happy Independence day everyone.
Whatever that means...
Have you considered investing in precious metals? Gold/Silver. I think it's worth looking at.
Nice post.
@REMI. i have read the page ".gods economy.." very nice. thank God for your wisdom
That pata idea is just genuis. cos when i'm travelling, i usually arrange all my clean underwear on top of my box. when customs opens it they just close it right back. lol. (you should see the oyinbo men blushing).
I think your money is fine. Me I don't have billions yet, so I'm not worrying much, plus, it's my bank that is buying the distressed banks, so I think I'm in good hands.
yup ive been really worried and for the first time it looks like an awesome idea to keep money in a good Nigerian bank (like First Bank which has shitty customer service but has been through worse times on the regular) because financial crisis is every day for them...lol
But my financial holdings (what little of them) should be fine i think-hide it somewhere very high and unexpected. lol
Funny...well, hide it somewhere in your closet of maybe build a concrete wall. So, how many billions do you have now? LOL!
This post is really funny, but somehow I doubt it would affect you.. it got me thinking though...
haha...interesting comments....can't even think of anywhere to hide the money....neither do i have a clue of what am gon do myself.....hope God will come to the rescue of yankee
@ Jaycee>: The fam is fine, thanks so much for asking. I like to think that I am overreacting when I think like this. But, I just have this weird feeling, you know?
nyway, God dey, always.
@ Aunty Waffy: I told Husband about putting money in the bag of garri and he cracked up. I like that idea oh... Our garri is in a container in the pantry and far way from TK's reach because he likes dry garri. Ol' girl thank s for such a helpful tip. ll!
@ Remi, UK:ah, I opened my account oh!!!! lol!
@ Kafo: lol!!!!! You are too funny!!! How are things? I have to stop by your site and can't wait to read your thoughts on the upcoming Veep debate.
@ Incognaija: lol!!! If i dig a hole in my little yard, one of these kids will remove the money by force. You don't know these children. LAWL!!!!
@ Carlang: hahahaha!!!! After reading your suggestions, you sound like you know a little too much about how thieves operate. lol! And, then you want me to mail you my money for safekeeping?
Tufiakwa!!!!!
=)
@ A'dele: Investing in gold and silver is a great idea and the rate those items increase, it's never too late to get in. However, I just need to have some money on hand in case something happens. I don't have any money to 'shower' gold/silver or platinum with, loL!
Thanks for coming and leaving a comment. Don't be a stranger.
@ Uncle Chuks: I read it too. It does have a lot of wisdom...
@ Isha: Ah, so you have an account with Citibank eh? lol!!! I do too but girl, I'm trying to understand how they keep buying banks when they bought up COuntrywide.
lol!
@ wordsmith: hahahaha, Naija banks have been through it sha, no lie. I pray that your holdings do well, they are in God's hands an dhe does not fail.
How are you? Thanks so much for stopping by!
@ Raquel: Billions? hahahaha. Girl, I am far from my billion objective, believe me. If I had money like that, I wouldn't be worrying about where to stash it, lol!!!! How are you?
@ The Life of A Stranger..: I hope it doesn't affect me and mine. But, I saw a neighbor pack their stuff in a huff over the weekend, and i can't help but wonder...
Anyway, hope youa re well. haven'ts een you in a while. Off to your side.
@ Beyond: Yes, a heavenly rescue plan is very necessary right now. I am tired of hearing about bad financial news. =)
How you dey?
When i heard WaMu had been seized by Federal.....I was literally rolling on the floor laughing. Called my girl and told he pull he rears and take her $16.87 out and move to Chase. Well this is the Western world so...... I think u shld just move to a more stable bank e.g. Chase, BoA, HSBC and maybe local community banks and other online banks? I've also heard a good place to hide ur money is Cayman Island.
As for the bailout.....i'm yet to decide whether its a good idea or not. All i know is that being in the financial services industry- your job can go anytime!
Dont hide money in ur house o.
Lol @ you and hubby. why you no wan go naija now?
Actually my dad and i were having this conversation like last week, he is thinking about taking out like 80% of there funds and hiding part of it underneath their bed and sending the other part to naija.
At first i laughed but after Citigroup bought my bank (wachovia) i don't know anymore.
Mummy 3,am back!!!!!!!!!!!!!!!!!!!
am srry av jus been awol jare.
u are scaring me oh,where will i put my own money in 9ja now cos our banks cant be trustd and security is even worse.i dnt tink it cant get soo so bad for u pips over there though.
but if u really really wanna keep the money,maybe u shd open up the mattres in d guest room ,lay everthn flat in it then sow it up...kinda tacky and hope vera dsnt find r addy!!!!lol
how are u these days??
Hmm, strange that you say so.
Apparently a lot of people are actually withdrawing their money from American banks. But I dont think it has reached that level yet. Hopefully not.
I overheard one woman on CNN say she put her money in a deposit box in the bank and has the key to the box :)
For those of us that invest in Nigeria, our stock market boom has gone bust so we are moving funds to real estate and mutual funds or government bonds. There's huge returns to be made in real estate - 50% per annum returns. Mutual funds, not so fantastic - 20%. FG bonds not great, but wull get you better rates than you'd get in American bonds. Roughly 10% per year.
I don't think it has reached that point yet! At least America is not Nigeria! lol
Please, apart from the immediate funds you need, do not make any large withdrawals.
You can hide your money in my account - in Oshodi-Isale Community Bank. You don ever hear say sub-prime lending crisis dey catch community bank? For where? Big bank, big problem. With my community bank, as long as we keep it in locked in a safe in the vault, and not on the floor where rats can gerrit, you have nothing to fear.
yeh,heard about the Nigerian stcok market. ridiculous!!!! and a dang shame. see me thinking if they start kicking we non citizens out- i have a sound place to come to.
you can hide the money in ur toilet tank, in the comode or u can simply bank some of ur money in Dominica if the economy there is not wholly dependent on US economy.
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