The Cost Of Lost Funds
Lost fund costs are increasing into the billions of dollars and treasurers around the nation are at odds on how to stop the problem. Many people who speak of these lost fund costs liken the wave of money to an ocean tide. Some months hardly any checks flow in. On other months, particularly around tax time, checks and funds from around the country flow into state and federal treasury offices. These checks represent the hard-earned wages of average Americans – lost paychecks, abandoned bank accounts, misplaced 401K accounts. Yet with the public largely unaware of the problem, and with millions of dollars flowing into state and federal coffers annually, a solution must be made and it needs to be made soon if the country hopes to keep these lost fund costs below the national average.
How Do Lost Fund Costs Affect the Average American?
The nation’s treasurers want everyone, man and woman, to search for and find lost funds. If everyone in every state searched en masse – say if there was a ‘find lost funds’ holiday – the nation might be able to breathe under the severe weight of the current and exorbitant lost fund costs. It would save the government a ton of time and money on servicing these accounts and keeping track of all this money and property. It will also free up the time of the workers who are currently trying to tackle this problem so they can focus back on their original job duties like community needs and togetherness.
These funds, in the amounts of billions of dollars that belong to families from the east coast to the west coast, are lying dormant in treasury vaults around the nation. This causes the money to be taken out of circulation, which causes the Federal Reserve to print more, which further devalues the money supply. With the government printing more paper money it not only devalues our dollar but it also create more opportunities for debt. Ironically more debt will actually add to this problem greatly instead of benefiting the entity holding on to it by it being able to collect interest. Since any and all interest made off this money belongs directly to the actual owner, it doesn’t benefit anyone else at all to have to keep track of and service it.
So in essence, these lost fund costs are causing our currency to lose its value. That’s a huge problem, especially when you consider that the average family needs to work two, sometimes three jobs just to get ahead. We can’t afford to lose any more money and so it’s crucial that we reduce the lost fund costs, and we can do that by trying to find lost funds that may have become lost somewhere in the past.
The more people we can get to try to find lost funds, the cheaper goods will become and the further the average dollar will go. If everyone were to take a moment to try to find lost funds, the nation might be able to control this massive problem so that we can return all that money to the country’s rightful owners. This would then trickle down to a money saving effect for all of us. By returning money into the accounts of Americans and lowering costs of ever day items back down to a comfortable amount it would save us all a ton of money just on living costs alone. Imagine how nice that would be, to actually have some extra cash to save at the end of each month? I know I would love it, how about you?
