Store your money in a 'safe' place

Thursday, October 16th 2008, 7:19 pm
By: News 9

By Jon Jordan, NEWS 9

OKLAHOMA CITY -- If you're like many Oklahomans the past few weeks have been especially tough watching your savings disappear. More people are now turning to places like Security Lock Services looking to buy a safe for their home, ultimately trusting no one but themselves with the things that matter most.

While the stock market continues to spin out of control, so are people's finances, people like Wendy Haag a struggling mother of two.

"My husband has recently looked at his 401K and it's not pretty, he's lost a good $20,000 in it," Haag said.

Haag is one of many Oklahomans trying to stay afloat in this tough economic time. Christopher Nixdorf though hasn't lost a dime.

"I don't trust my money in the banks," Nixdorf said.

Instead Nixdorf stores his money in his personal safe at home.

"I would rather trust myself and handle my own money than have to put it in other people's hands," Nixdorf said.

While it may sound odd to keep your money at home, according to Chris Young, co-owner of Security Lock Services, Nixdorf's idea is becoming more and more common.

"Last week our safe sales probably doubled," Young said.

She said a good safe is as safe as they come.

"People are just becoming more aware of how they can protect themselves, their valuables and their families, and a safe is a very good way of doing that," Young said.

There is a good and a bad side to having safes at home. On one side your money doesn't grow like it can in a bank, but it can't disappear either that way either.

Young recommends if you're going to use a safe to store money to put only enough in for emergencies.

One thing to keep in mind if you're planning to buy a safe is that Oklahoma City burglaries are up this year, but it's unclear if the two are related.