How to Keep Cash Safe

Keep Cash Safe

If you have inherited a sum of money or have worked hard to save some cash, you want to keep the cash safe. You don't want to place your cash in a shady investment only to find out that the deal went sour and you lost all of your money. You also don't want to have a house fire and watch all of your cash burn up and end up in a pile of ashes. Here are some things you can do to protect your cash from harm.

Step 1

Purchase a fireproof safe to keep your money in if you want it in the house. Once you place your money in the safe, find a safe place in your home to keep it. The location should be one that nobody would think to look. Hiding the safe will keep your cash safe from burglars.

Step 2

Deposit your cash in a bank that is FDIC insured. This will protect your cash up to the amount of $100,000. If you have more than that amount, then open one account in each bank. Then if the bank goes bankrupt, the government will give you your cash.

Step 3

Rent a safe deposit box. This is a great choice if you are leery of stashing your cash in your home. It is also a good option if you are traveling on business and don't want to keep a large amount of cash on your person. You can rent a safe deposit box at the hotel you choose to stay in.

Step 4

Place your money in a Ziploc bag and insert it in a money pouch. Conceal the money pouch under your jacket or sweatshirt so that no one can see it. This will keep your money safe while you are out and about. This method also works if you are away on vacation and are out sightseeing. The Ziploc bag protects the cash in case of rain and the money pouch protects the money from being blown away or stolen. Pockets and purses have been known to be easy targets for pickpockets.

Tip

You can have a safe installed in your wall and cover it up with a portrait.

Things You'll Need

  • Fireproof safe

  • FDIC insured bank

  • Safe deposit box

  • Money pouch

  • Ziploc bag

Warning

Investing your cash in stocks and real estate will not ensure that your cash is safe.

Never flash your cash around. This is an advertisement to thieves that you are a good target.

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