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Thursday, April 25, 2024

Don't Have a Safe for Documents? That Could Cost You More ... - The Motley Fool

A safe is an important part of your home security system.

Key points

  • It's likely that you have important documents, cash, or valuable items you want to protect.
  • Having cash or valuables stolen from your home if they're not kept secure can directly cost you money.
  • You'll lose time if you have to track down replacement documents and monitor your credit report for signs of fraud.

Adulthood comes with a lot of important and difficult-to-replace paperwork, like your Social Security card, birth certificate, and various financial documents. While you can certainly keep these important bits and bobs in a safe deposit box at your local bank branch, doing so will mean paying a monthly rental fee as well as losing instant access to your stuff when you need it. You'll have to take yourself to the bank (during their open hours, which likely coincide with your working hours or anything else you want to do besides visit a financial institution and often wait to be helped) to access items. So what's the solution?

If you have paperwork (and even cash money, jewelry, and other valuable items) you want to keep secure while still maintaining your access to it, consider purchasing a safe. There are several different kinds available, from small models that will be easy to grab and take with you in the event of a natural disaster evacuation, all the way up to large safes built right into a wall of your home that will deter burglars. You likely don't need the latter, unless you own a lot of...



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