The majority of people store their savings in accounts held at various banks and other financial institutions. Even though keeping money in a bank account is a trustworthy and secure way to save it, having some cash on hand at home might be useful as a backup plan in case of an unexpected situation or expense. Where should you put your money if you want it to be just as safe as if it were sitting in a bank account?
In this post, I will show you a safe place to keep cash at home, including the most secure locations in the home for storing your money.
What amount of money should you keep at your residence?
There is no acceptable quantity of cash to keep in one’s house. Every person’s financial situation is unique. Some people advise keeping a sum of money in a safe that is sufficient to cover living expenses for at least two months. If you want to have more peace of mind in the event that a catastrophe takes place, you should store away enough supplies to provide for your family for up to six months.
How safe you are with money will determine how much you can keep at home.
Are you content to preserve a small amount, or do you plan to keep the majority of your savings in your own home? Your family should choose a number that makes sense to them, and that is the number you should strive to keep safe.
Why should you keep cash at home?
You may ask, “What are the benefits of keeping cash at home?” Why is it a good idea to have money kept in the house when it might easily be stolen? Why keep money when you can deposit it all in banks and let it accumulate interest? There are a few compelling reasons why you may want to keep some of your hard earned money at home.
The following are some of the most frequent reasons:
- Privacy concerns: Some people may prefer to keep their money at home to maintain more control over their financial information and keep it away from prying eyes.
- Emergencies: Having cash on hand can come in handy in case of an unexpected expense or emergency, such as a medical bill or car repair.
- Natural disasters: In the event of a natural disaster, electronic banking systems may be down, making it difficult to access funds stored in a bank account. Having cash at home can provide a backup in such a situation.
- Power outages: Extended power outages can make it difficult to access electronic funds, so having cash at home can provide a way to make purchases during these times.
- Tipping: Having cash on hand can be helpful because tips are often given in cash, such as for food delivery or other service jobs.
- Cash transactions: In some situations, like those involving small businesses or informal transactions, cash is still the preferred method of payment.
- Avoiding bank fees: Some people may keep money at home to avoid paying bank fees, such as monthly maintenance fees or transaction fees.
- Investment opportunity: Some people may keep money at home with the intention of investing it in property, precious metals, or other tangible assets.
- Lack of trust in the banking system: Some people may not trust banks or financial institutions and prefer to keep their money at home where they can see it and have more control over it.
Having access to money in the form of paper bills is handy in these situations since it is quick to retrieve. Now, let’s go over some of the most secure places in the house to keep your currency.
Where is the safest place to store cash at home?
The following are some of the locations within a home that are considered to be the most secure for storing money. It’s possible that some of these will blow your mind, but that’s exactly the goal. The more overgrown the area is, the less likely it is that any potential home invaders will be able to locate your money.
1. Your back yard
Having a backyard can be a great way to save money while also enjoying the comfort and convenience of having a home all to yourself. However, if you are not cautious, your backyard can become a source of security risks if the necessary precautions are not taken. Here are some tips on how to keep your backyard safe and secure while also saving money in the process.
- Install an alarm system. Installing an alarm system in your backyard can be a great way to deter would-be intruders while also providing peace of mind. Alarm systems can range from basic systems that sound an alarm when triggered to more advanced systems that can be linked to your phone and alert you when triggered. Investing in an alarm system can reduce the risk of theft or vandalism while also helping you save money in the long run.
- Install motion-sensor lights. Motion-sensor lights are a great way to deter intruders and increase the security of your backyard. By installing motion-sensor lights, you can reduce the amount of time that intruders have to work in the dark. Additionally, these lights will only turn on when they detect movement, thereby saving you energy and money.
- Lock your gates and fences. Ensuring that all of your gates and fences are properly secured is one of the best ways to protect your backyard from intruders. Installing deadbolts or padlocks on your gates and fences can help keep intruders out while also helping to prevent anyone from easily entering your home.
- Plant some thorny bushes. Planting some thorny bushes around your backyard can be a great way to deter intruders further. Not only will the thorns make it difficult for someone to enter your backyard, but they can also be aesthetically pleasing and add to the overall beauty of your yard.
- Install a security camera. Installing a security camera in your backyard can be a great way to observe any suspicious activity that may be occurring. You can also use these cameras to monitor who is entering and leaving your backyard, as well as check up on your kids or pets while you’re away.
By following these tips, you can keep your backyard safe and secure while also saving money in the process. By investing in an alarm system and motion-sensor lights, locking your gates and fences, planting some thorny bushes, and installing a security camera, you can rest assured that your backyard is properly secured.
2. Behind a picture frame
Saving money behind a picture frame can be a unique and secure way to keep cash and other valuables hidden in plain sight. Here are a few tips on how to do so:
- Choose a picture frame with a removable back: Look for a picture frame that has a removable back or a hidden compartment behind the picture. This will allow you to easily hide the money out of reach.
- Secure the back of the frame: Once you have inserted the cash or other valuables into the hidden compartment, make sure to securely close the back of the frame. Use adhesive or tape to hold it in place to prevent it from falling out.
- Choose an inconspicuous location: To keep the money hidden, choose an inconspicuous location to hang the picture frame, such as in a hallway or a room that is not frequently used.
- Ensure the picture is securely hung: Make sure the picture frame is securely hung on the wall to prevent it from falling and exposing the hidden compartment.
- Keep an eye on the frame: Regularly check the frame to make sure the picture and the hidden compartment are still in place.
NOTE: It’s important to keep in mind that this method may not be as secure as traditional ways of keeping money at home, such as in a safe deposit box, and it’s important to consider the risk of fire and water damage when storing money in this way.
3. Floor save
A floor safe hidden under a carpet or floorboard is a discreet and secure way to store cash and other valuables. This type of safe is typically anchored to the floor, making it difficult for burglars to remove it from the premises. The safe can be accessed by lifting the carpet or removing a floorboard that is covering it. This method gives you more security because the safe is hidden and can only be opened by someone who knows where it is.
When installing a floor safe, it is important to choose a location that is not easily accessible, such as in a closet or a room that is not frequently used. It is also important to ensure that the safe is anchored securely to the floor so that it cannot be easily moved or tampered with.
4. A wall save
A wall safe behind a picture or mirror is a clever way to keep money at home. This type of safe is designed to be hidden from view, typically behind a picture or mirror that is hung on the wall. This allows you to conceal the safe from potential burglars and other thieves, making it a great option for keeping your cash and other valuables secure.
Not only does it provide a level of security, but it also offers a convenient and accessible location for storing your money. A wall safe behind a picture or mirror can be a great option for those who want to keep their money at home but don’t want it to be easily accessible to anyone who visits.
Money can be hidden away in an inconspicuous manner by using a secret compartment that is built into a piece of furniture. These compartments can be constructed into various pieces of furniture, such as a desk, bookcase, or even inside a sofa or bed frame. They provide a secure and discreet way to store money, as they are not easily visible to anyone who may come across the piece of furniture. This type of storage option is perfect for those who want to keep cash or other valuables at home but don’t want them to be easily accessible to anyone who visits.
Putting it in a ceiling can be a great hidden location depending on how much cash you need to keep safe. Ceilings are often overlooked as a place to store things, but they can be a safe and private place to keep your valuables.
But how do you go about it? The first step is to find a spot on your ceiling where you can hide your money. This could be anywhere from a corner of the attic to a drop-down ceiling in the basement. You’ll want to make sure you pick a spot that’s not easily visible from the outside.
Following the selection of a location, the next step is to secure the funds in the ceiling. To do this, you’ll want to pick a durable, hard, and waterproof material, such as a sheet of metal or plastic, to protect the money from dust, water leakage, and moisture. You’ll then want to attach the sheet to the ceiling using screws or a drill.
Other ways to save money at home.
Not everywhere is safe to hide money at home
At home, there are a number of fantastic hiding spots for cash; however, some of these spots are not suitable for storing money. To keep your money in the most secure environment possible, there are several places where you should avoid putting it. These will not provide sufficient protection for your treasured possessions.
The following are some of the worst places you may hide money:
Let’s examine each of these areas in greater detail so that you may comprehend why they are not suitable locations for storing things. It is recommended that you deposit your money in a bank if you do not have access to any other location that is more secure. Think carefully about which alternative would serve your life better.
1. Under a mattress
We’ve all seen movies in which the main character tries to conceal money by putting it in their mattress. Unfortunately, this location is not a good choice for keeping one’s money safe.
Bedrooms are typically the first places that burglars investigate when they break into a home. Your bed is going to be one of the most obvious targets in the room, which leaves the money in a precarious position.
Thefts are prepared for any of these scenarios, regardless of whether the money is kept in a safe or hidden under the bed. Make it more difficult for burglars to enter your home, and store your money in a location that is not close to where you sleep.
2. Boxes for jewelry
Thieves will search jewelry boxes first because they are already designed to store valuables inside of them. If you also keep jewelry in there with the cash, you are basically giving the intruders everything that they should have been able to find hidden.
If you have a jewelry box at home, you ought to put it in a safe along with the rest of your valuables. If you are concerned about something, you should not leave anything valuable out where it may be easily seen by others. Cash should be kept in an environment that is as secure as possible, and jewelry boxes are not an appropriate place to conceal it.
3. Forgettable Locations
Last but not least, people conceal their wealth in a wide variety of unremarkable places.
This location may contain a toy for youngsters, an oven, or a peculiar drawer that is located in a dresser that is located in the attic. Never put your money in places where you are likely to lose track of it, such as in an item. Additionally, you should never put your money into anything that is constantly shifting. It is possible that you will end up losing your money.
If you decide to hide your money, make sure you make a note of the location and keep the note with you at all times. Following these steps will ensure that it is not difficult to obtain when the time comes to put it to use. If you are unable to recall secure locations when you most require them, they are of no use to you.
How to Avoid Losing Your Money at Home
There are a few things you should keep in mind if you have a significant amount of cash that you wish to keep secure in your home.
- Don’t keep large amounts of cash in one location; rather, disperse it across multiple locations;
- Don’t hide money in places that you are likely to forget about;
- Make a note of where you keep any cash on a digital device that only you have access to;
- Don’t hide money in places that you are likely to forget about;
- Don’t hide money in places that you are likely to forget.
One Last Thought Regarding the Most Secure Location Within the Home to Store Cash
Even if it’s not necessary for everyone to do it, keeping some cash on hand at home is a great way to ensure that you have a safety net in the event that everything goes wrong.
Put your money in a secure location that is out of the way but still simple to get to in case of an emergency. It will be much simpler for you to kick back and relax if you have a little something more that you can lean on at any given time. In addition to this, you won’t ever be short of cash.
There are some people who shouldn’t keep money at home, but it’s not a bad idea to give it a chance. You are able to avoid having to pay the interest as well as the fees that are associated with certain financial organizations.
Safe place to keep cash at home: Conclusion
In conclusion, keeping money at home can be a convenient and practical solution for times of emergency or natural disaster when quick access to cash is necessary. However, it is important to consider the potential risks associated with this storage method. One major risk is the possibility of a fire disaster or flood, which could result in the loss of your savings.
Additionally, keeping large amounts of cash at home could make you a target for burglary or theft. Therefore, it is crucial to weigh the pros and cons carefully before deciding whether to store money at home. Please click here if you want to know how much you can earn by investing some of your money.