Honestly, this doesn't shock me.  The current economic climate receives news coverage daily, usually in a panicked tone, be it about auto maker bailouts or people losing their homes, jobs, and families.  Is it shocking that people are incredibly afraid?

Psychologically speaking, fear brings out some of our most extreme behaviors.  If you think about the atrocities committed throughout our history, they have often been sold to the masses by playing on their treats.  Wars in particular are often couched in terms of attacking those who are actively threatening to take what you have, be it your live or your livelihood.

And fear of losing your money is about more than just the physical goods that you possess.  Money is symbolic, and it represents your ability to satisfy basic needs that are a deep part of the human psyche: the ability to have food to eat, to rest in relative comfort and safety, to have stability.  In a very real sense, the reason money is so important to people is that it can buffer them from many of the fears and threats that those without it have to live with.

The trouble with combination of fear and money is that fear generally causes people to do irrational things, that often end up hurting more than helping.  As recognized in the article, burying your money is, for a variety of reasons, a really really bad idea.  I've talked to some Thrive users that are contemplating fairly extreme budgeting methods that aren't going to save them nearly as much at they think and are going to seriously hurt their mental happiness.

The important thing is to calm down.  Stop, think, plan.  Make a budget that you can actually live by and will stick with.  Look for areas that you can cut back on without making yourself significantly unhappy.  Cover your basic needs firsts.

And most importantly, have faith that things will not be as bad as you can imagine.  If you lose your job, there will be programs to help you and you can save against that possibility.  No matter what happens, you're going to be better off thinking with a level-head, planning, organizing, and getting some solid financial advice, then burying your money in your backyard.

http://www.justthrive.com

I, for one, subscribe to the theory, that those who forget the past are doomed to repeat it..we are seeing that today with the current administration, and the inept people in office...I do not trust the greedy bankers and the like to look out for my best interests when it comes to my financial security.Same goes for the Social Security  benefits that I have paid into for over 30 years, and will probably not get much, if any, when I reach retirenment age..There is nothing wrong with having a stash of ready cash on hand in case of a catistropic event or events such as the one we are in now..Our grandparents learned the hard way from 1929-1939 and tried to instill the proper values to their offspring about frugality, but greed has destroyed those values..We see it everyday with commercials that tell you to check your credit card balances to see how much you can spend..If you don't have the money to buy a TV or Washing machine..save up for it and pay cash..Live within your means.

at least you'll get some Social Security. i'm essentially paying for the previous generations and once my time comes, i will get nothing because Social Security will be bankrupt.

 When you try to use your ATM & it doesn't work.......you truck on down to your local bank & the doors are locked..........by then , its's too late. The bank will have your money, all of it.

 When you ask the average Joe how much he's worth, when he tells you he has stocks, bonds, investments..Say this....Put on the ground at my feet what your worth.......His "monies" have very limited liquidity, can't get much at all for your house now, try to sell your car? What you are worth is rapidly determined by whats' in your pocket & not the 'things' you 'have'.

I purchased $1000 in $1 coins (the new presidents) ftom the U.S. mint.  Free shipping and with my 1.25% back on my credit card I made $12.50:). This way I will have cash on hand that doesn't burn or destroy easily.

I have about $5K stashed as part of my evacuation kit...grab and go..we all saw what happened with Katrina, banks gone, what ATM??  No electricity so can't run credit cards.  Good ol US cash will get you everywhere when the next situation comes along...food gas lodging whatever.

For me it is a good feeling knowing that WHATEVER happens I DO have the cash to take care of my self and my family for awhile

History provides us with great lessons and guidance for the future.  In tough economic times and great uncertainty, the value of cash money normally declines.  So putting it under a mattress is not a smart strategy.  Investments in physical gold (coins, bars) and gold stocks typically offer investors not only safe haven during turbulent times, but solid returns.  Statistical analysis clearly shows that purchasing gold stocks rather than physical gold has been far more profitable during the past few decades.  More info on gold investments at http://www.GoldStockTips.com

Are you kidding me.   Sure having a few extra bucks to pay for emergencies is helpful. I'll admit I do have some socked away in a safe that is lag bolted to my floor. But $5,000.  If your home is robbed you can kiss that money goodbye and how do you prove to your insurance you had that much cash, or coins, or whatever it is that you have hidden away just in case the sky starts falling.  There's a word for it and it is PARANOIA. Yes, the banks can fail, however, I'm more concerned about losing all of my money because of someone swiping it than having a bank abscond with it.   I find it sad that people feel they have to hide money in matresses or in one infamous case I know of, sew it into the lining of their coat because of this paranoid thought process that it's not safe anywhere.    It's a bad idea to just have cash hanging around in large sums and irreplaceable once it's lost.

I have family in MI, and the buying of Mason jars is for canning food now and in the future. An old mayo or pickle jar could be easily used to bury money without the expense of buying jars.

Social Security is not something you pay into and get back with interest.  It was supposed to work that way but a Democratic Congress destroyed that many years ago and made it just part of the general fund.  It is just another tax that goes for right out the door for Congressional pork barrel spending and for people who are retired.   The way things are going we are going to plant our whole yard with vegetables...the heck with grass and landscaping for attractiveness.  Then we can hide our mason jars among the rutabagas...whatever they are...