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'Hiding Cash'

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Hiding Cash

Security - Security

Forum Post

Washington DC

Hiding Cash

Thank author of this post/commentI know so many people keep cash in places like their sock drawer. Besides a safe, I don't know where to keep money. I guess we should all find somewhere in our house to put cash that a robber wouldn't find it. I guess it is really just better to keep your money in a bank. I had friends though that were bad with money and would always go overdrawn on their accounts so they closed them and went to cash only. So where should they hide their money? That is tricky. Plus what if there is a fire?

#1

Joisey, on the Continent
Thank author of this post/commentWell, I have a book that looks like a dozen other books by the same people... Reader's Digest and what it is is a safe box. When you open the front cover there is a slider part that you move and it's completely empty inside.

Most robbers will go through drawers and freezers and ottomans with lift tops, cupboards and things like that but they don't go leafing through books because if there is money in between pages it takes too long anyway. If anything they will push the books off the shelf hoping to find things behind the books.

So that is one suggestion that you could use. Also behind pictures between the backing and the picture itself is a place to stash some money as well. If they knock the pictures over the glass will break but the picture generally stays in tact.

But never hide money around expensive equipment like computers, TV's, VCR's DVD Players because if they are kids breaking in these are the things that they will take for pawning.

Another suggestion is a large safety deposit box at the bank. This is not putting money in an account this means that if they need cash to buy things they have to make a special trip to the bank vault and take out what they need. Sometimes that is a deterent to overspend.


#2

from my desk!
Thank author of this post/commentIts just best to keep your cash in a bank that is FIDC insured. You don't want to keep large amounts of cash in your home and take that kind of chance.

#3

New York
Thank author of this post/commentWhat do you do when the bank closes and you have to wait forever for the FDIC payoff?

#4

nova scotia
Thank author of this post/commentI don't know about hiding money behind pictures, some robbers do check these. At least they do in movies heh. I would think maybe under the floor if you could find a loose board to sneak some money underneath?

But yeah i use the bank.


#5

Washington DC
Thank author of this post/commentRobbers pull everything out of drawers, closets, and shelves. What's stopping them from just stealing your safe if it is in clear site? What if you aren't good with money so a checking account is impossible for you. What do you do then?

#6

adam

i read this on another site and think it is brilliant, so i'll post it here:

under the sink in an empty old/dusty looking household cleaning products container.


#7

Jerry

re#2 I think today many people are thinking the FDIC insurance is not going to do them a lot of good. Too bad.

Re#6 Maybe that old dusty looking box has some corrosive cleaning chemicals in it that will disolve your money! hahahah


#8

Dustin

I cut a whole in my wall and installed a fake receptacle box. It looks like a real plug in and nobody would look there.

#9

moy

I believe when robbers have set their minds to getting something, they will do all they can to finally acquire it(no matter how much disguise you put in). I doubt if the point of contention should be where to place your money but whether or not to store it in the first place.

Financial habits are varied but the best choice will be to store it in a bank where it is safe.


#10

Gwenda

I have to agree with moy, the best place to put your money is in the bank. You do not have to worry if it got robbed, atleast you know that the business is secured with insurance, you will get something and you will now be left out crying when they go robbed.

Or i suggest that you invest some of the money in business. You will have future earnings.


#11

Eve

Investing in the future is the safest way in which to earn money. One must be sure that the future prospects are nothing but superb, however, and surely so.

#12

Eve

Still, I am very much certain that there are other ways in which one can earn money, ways that would be equally as profitable, and would probably even be a lot faster.

#13

brent

Just try to invest in something new. You could never fail that way.

#14

Troy

I have to agree with Gwenda. One of the best thing that you can do with your money is to invest it in some businesses. You just have to make sure that it is one good business. However, some business tends to broke and what happens is that you loose all your money. But anyway, just secure your money and try all those suggestions posted here, pick up the most realistic for of keeping the money.

#15

Lucy

And make sure that the business is stable and that you will not end up crying over lost money due to poor choice of investment. But I have to agree that investing is one way of saving those money. Every time that I go out, I have some troubles on where to put my cash left at home. I put it in a secret place that robbers would not think that it is actually there.

#16

Los Angeles, California, USA
Thank author of this post/comment"Hiding Cash"

In the aftermath of the Japan earthquake and tsunami, metal safes are being recovered from the debris. Safes, as well as lost money, are piling up at police precincts. The drawbacks to hoarding cash in your house have been made clear as a great deal of the lost money may be impossible to return. Stashing cash at home backfires in Japan tsunami zone . Japanese who stashed their money at home in metal safes are finding the tsunami may have washed their homes away and deposited the safes at random in the debris. Japanese police have been storing the safes and accepting cash discovered in bags, boxes and furniture turned in by honest citizens.

I have realized that the best place to put your money is in the bank. You do not have to worry if it got robbed , at least you know that the business is secured with insurance, you will get something and you will now be left out crying when they go robbed.


#17

Montana
Thank author of this post/comment"Bank Safety"

And when your bank folds or it gets washed away by a Tsunami!

The answer is never found in ONE thing. Diversify!


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