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How to store cash

By Edited Jan 21, 2014 0 0

Banks used to be the best place to store cash as they provided you with trust and comfort.The truth is, banks can eventually go bankrupt especially in the economy these days.What this means is the bank owes more money than they actually have.Since banks don't keep the money that you deposit they are unable to pay out each customer including interest built up.If you notice your bank going into bankruptcy the smart thing to do is get your money out fast.The safest and smartest way to store your cash is in your own home where you will have access to it whenever you want.

Things You Will Need

cash

Step 1

First, find a good place to store your cash. Whether it is in your ceiling tiles or under your mattress, you need to find a secret spot that no one else will know about. The best place to store cash is in a fire proof safe. Be sure that the safe is bolted down as it will prevent burglars from being able to take the whole safe. Some people have also been known to store their cash in their backyard. This is also a great idea as no one would suspect you to hide cash outside.

Step 2

Next, be sure to keep a count of how much money you have. Count your money often in private. Keep a tab on how much you currently have stored away. If you suspect that any money is missing, it is time to find a new hiding spot.

Step 3

Store cash you will be using in a different secret spot. Use this cash to pay bills to avoid having a large amount of cash in your home in case something tragic would happen such as a fire or burglary. Also, investing in stocks is another great idea you can do to invest your money into. By investing in stocks you are able to cash out whenever you want.

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Tips & Warnings

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SentrySafe SFW123DSB 1.23 Cubic Feet Combination Fire-Safe, Medium Grey
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(price as of Jan 21, 2014)
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