Almost every week we find money for clients. Last week we came across $200 sitting in plain sight. US Savings Bonds used to be great gifts. Who would have thought US Savings Bonds and clutter would be ever be the same thing? If you are looking to save money and get organized this year, go check your savings bonds and cash them in.
Here are some fun facts about US Savings Bonds.
Since 2012, you can no longer buy paper savings bonds. If you want to buy bonds as gifts, you must do it through TreasuryDirect, the US government’s website.
Bonds mature, or are worth their full face value, after a certain number of years, which might be different for different bonds. You may as well go find out how much your savings bonds are worth, and buy yourself something nice.
Bonds may continue to earn interest for a while after maturity, but not forever. And they aren’t earning much. Holding them longer will not make you rich. You can earn a better return with other investments.
Rather than chasing paper clutter around your office, take paper bonds to your local bank to redeem them. If they won’t redeem them, you can contact the Treasury directly for electronic redemption.
I don’t quite understand why people don’t consider bonds real money. It takes just a quick trip to a bank or website to unlock their value and turn them into green cash or electronic funds that you can spend anywhere.
Do you have US Savings Bonds sitting in a file folder, safe deposit box, or junk drawer? Your Certified Professional Organizer® says it’s time to go check if they are matured and, if they are, redeem them now.