It’s a good idea to always have access to cold hard cash just in case you can’t access an ATM or there is a widespread power outage and credit/debit cards aren’t accepted by merchants. How much is up to you, but $300 to $500 is probably enough to keep “just in case.”
Where should you keep it so that it’s safe? Some people suggest a safe deposit box at your bank, but what if the bank is closed? Safety and security for your stash is important and you don’t want to get burglarized and lose it in addition to your Blueray player and TV! Since the average burglar only spends 8 minutes in your home and will look first under the mattress then in your breadbox, here are some other ideas for places to stash your cash:
1. In a safe in your home. If you can afford it, pick one that’s fire resistant. Just remember that if it isn’t securely fastened or is blatantly obvious, it might grow legs if you are burglarized. Non fire resistant safes are a good bit cheaper.
2. Pull a James Bond. Stash your cash and valuables in a wall safe behind a picture. Yeah, I know. This sounds James Bondish, but it is a real option if you’re a little handy and can install it yourself.
3. Hide it “in plain sight.” These can be anything from fake shaving cream cans to fake cans of potato chips. Of course, if your thief decides to shave or eat some chips, you’re sunk.
4. Hide it in really plain sight. There is even an option to stash your cash in a fake wall outlet safe.
5. Hide it in a can of cleaner. I’ll bet no thief would ever clean your home so hide your cash in a fake can of cleaner!
6. Hide it in a can of dog food. If you don’t have a dog, this one wouldn’t work too well. A single can of dog food in the cupboard with no other dog accessories would be a dead ringer.
7. Hide it in a book. A good book safe is a great place to hide your cash or other valuables.
8. Hide it when you have some time. There are safes disguised as clocks, so if a thief checks to see that he’s been in your home for more than 8 minutes, he’s actually looking at your cash without knowing it!
There are all sorts of ways to hide your cash and valuables at your home and most of these listed are relatively cheap (many less than $20).
Do you keep some cash on hand — just in case?