I read that one of the best ways to preserve a seed phrase is to write it on a piece of paper and keep it in a safe place... Somewhere safe could be in your home out of the reach of family members and friends, it could also be a safe deposit box. But not everyone are financially buoyant to afford the services of a deposit box.
This is correct but even if someone isn't financial capable of buying a safe or deposit box, how can you keep a lot of your assets in crypto when a thing that will give you additional security is can't afford. You really have to invest on it and slash some bucks on your crypto assets to have it.
I believe we must have seen or heard about fire outbreaks, where buildings are completely erased by fire. Imagine if the owner or occupant of such a building has some Bitcoin assets, and has his/her phone, tablet, laptop and the seed phrase piece of paper in the building and everything was lost to fire.
That person who might have that incident don't know how to do back ups, there are too many ways in creating a backup where it goes wherever you goes. So, you do the thing and strategy by doing that since the hint is there.
Now, this brings me to the question... Can seed phrase be memorized? It's advisable to memorize seed phrase?
I have heard and seen someone brought it up with this idea, yes you can memorize your seed phrase but it's not advisable at all. Do you trust your memory and mind? If so then you do it confidently but most of us can be forgetful and I've also seen situations where people have locked their bitcoins up with forgotten passwords, phrases and accounts. And that's why it's not advisable.