This post should just be a reminder for anyone who has ever had money—so that means you.
My husband is an awesome guy. He really is. But sometimes he is just kind of a ditz. I mean that in the most loving way possible. Sometimes I don’t understand how his brain works or where he is in terms of his thought process but I digress.
Last week I opened up our mail and nervously opened one letter from Chase. “Chase? This isn’t a credit card offer—why are we getting a notice from Chase?”
I open the letter and scan it. It’s for a Certificate of Deposit (CD) at an awful interest rate. I look at the terms of the deposit:
- Maturity Date: June 22, 2012
- Term: 13 Months
- Interest Payment Frequency: Monthly
- Interest Compounding: Daily
- Projected Value at Maturity: $3,518.61
WAIT, WHAT? Just stop right there; I don’t need any more bullets.
My husband, unbeknownst to him, had a CD of $3,500 just sitting around.
Me, to my mother: I don’t understand. It’s not like we’re rich and when this was opened KC probably made 50% less than he does right now. How do you just lose track of $3500???
My Mom: Rich people don’t lose track of their money they know where every penny is—that’s your problem.
At first my husband thought it was a mistake. He had a CD last year that he closed out and it was for less than half of the amount of this newly discovered CD. He thought the lines got crossed somewhere and he did not believe he had a CD. But after going to the bank and confirming it, he now accepts that he does have a CD.
But the question still remains: where did the CD come from???
My husband is pretty insistent that the CD he cashed in last year was the one he opened for himself. Back in the day, he received money from a particular event and put it into a CD without really even knowing what it was. But this CD he has no recollection of opening so our only assumption is that someone must have opened it for him. He had relatives who used to purchase things for him, such as bonds, pretty regularly so we are thinking this is where the money came from. As I said, my husband can tell you twenty-years ago about a game he was playing, the cards in his hands, and whatever else was going on at the time but he can’t remember where this magical $3,500.00 came from.
What You Should Take Away
I urge anyone who has ever had accounts or anything set-up for them, such as bonds, to check and see if they have ever forgotten about any of the funds they had in a bank somewhere. It actually happens quite often and I know this because once in awhile, the newspapers run the names of all of the people with unclaimed funds in various locations. Always be vigilant about knowing how much money you have and where it is going.
For us, this is perfect timing. Since we are looking for homes, this money makes me feel better about putting down 20% on a house. It adds to that little bit of cushion that we want to have before we move into somewhere else.
the thrifty spendthrift 
WOW! That’s so awesome. I wish I could magically find that find of money. I know where I put the $4.00 in change I got last week though; there’s no way I could lose track of that kind of money.
Yeah he’s the one with all the dumb luck, not me, so it’s a good thing we share. 🙂
That’s amazing news! His ditziness paid off…literally. There’s a website, unclaimed.org, where people can check to see if they have accounts like this. It usually only updates after the account has closed or the money has laid unclaimed for a certain amount of years, though, from my understanding.
I love your mother’s quote about rich people! Spot on.
Thanks for mentioning the website. I remember checking it out YEARS ago but I didn’t have anything in there unfortunately. 😉 Though since it was a CD and accruing interest, I don’t know how long it would be sitting there until it was considered “unclaimed.”
I wish people would put money into CDs for us. 🙂 At least that money can help you guys with your house.
We may never solve the mystery of where it came from but I am okay with that. 🙂 Every little bit does help since the rest of the money is our own individual savings.