Hiding Money - Tips and Tricks to Protecting Assets
- Author Aaron Aberson
- Published January 7, 2011
- Word count 554
Hiding money is an easy way to ensure you always have some cash on hand in the event of an emergency or just in case you don't have enough time to swing by the bank. Others like to keep a stash hidden away as mad money, saving extra money apart from the money they keep in the bank and then spending it when they have saved up enough for the vacation, new car or other purchase they want to make. It is also becoming a standard way of protecting assets and giving individuals something to fall back on in case a burglar ever breaks into the home.
Sometimes however, the thief that you need to hide money from is none other than a spouse or loved one. Family members struggling with an addiction to alcohol or drugs will often steal money right out of a purse or wallet. Couples getting divorced might also try to put their stash away to keep the other from getting their hands on it in the divorce settlement. Those who have a roommate, use babysitters, get their home professionally cleaned or commonly throw parties in the home and allow strangers in, can all benefit from learning the tricks to securely hiding money away.
The trick to hiding money and keeping it from being detected is understanding that whoever is looking for your money will want to find money and valuables as quickly as possible, and then get out of the home without being detected with your cash. Therefore, there are two ways to protect your money - hiding it in plain sight or in places a thief would not have the time, foresight or ability to check.
One of the most obvious ways of hiding cash at home is in a safe. Safes have their pros and cons. They cannot be gotten into without the code, but they are also usually stored in plain sight. Though a crook may not be able to get into a safe immediately, small safes that are not bolted down can be taken out of the home and carried away, allowing the thief to take their time and find a way to get inside. If you use a safe to store your money make sure it's fireproof and bolted down to the floor.
Other ways to hide your money is to store it under, in, or behind items that the thief would see but wouldn't think to check. For example, underneath the kitty litter, under the gravel in a fish aquarium, taped to the bottom of a trash can, in a can in the pantry, inside a picture frame, taped to the back of a heavy piece of furniture, inside a cookie jar or hidden beneath the carpet. Be sure to double bag your money so it stays clean and dry when storing.
You have to make a balance when hiding money. You don't want to choose a hiding place for your cash that might get thrown away by someone else like an old mattress. You also shouldn't hide the money in a valuable item that might get stolen anyway such as expensive electronic equipment. Have an attic or basement? Then get creative and store the money somewhere no one will think to look but in a location you are sure not to forget.
There are no posted comments.
- The role of AI in finance
- Adsense Pros And Cons
- Places You Can Save Money For Your Family
- Best ways to make money in 2019
- 5 Credit Hacks to Boost Your Credit Score Fast
- How The Fair Debt Collection Practices Act Works For You
- Real Estate Outlook May 2019
- What Your Dad Never Told You About Income Investing: Q & A
- Looking for interests from your investments? Intus Life!
- How To Get Wholesale Houses In 7 Days or Less
- Life Settlements: The Option of Selling Unwanted Life Insurance
- Do Stock Market Numbers Really Matter?
- Real Estate Outlook May 2018
- Harnessing Stock Market Volatility
- Real Estate Investment Outlook
- Health Insurance A Must For Everyone
- Managing The Retirement Income Portfolio: The Plan
- 5 Reasons to Hire a Financial Planner
- Why Retirement Planning Is Important
- Florida Online Deed Sales - 2017
- How to make money: 11 tips to learn how to invest your capital
- How Can You Build A Bigger Pension?
- 10 Things You Didn't Know About Millionaires of the 21st Century
- Finding the Good Real Estate Deals
- Only Action Will Create Wealth
- The Global Reset
- Commodity Prices Have Crashed
- What the Wealthy Do Different
- Reasons To Make An Effort Having A Home Budget Plan
- Financial Plan is Important So Why Many of us Don't Have One?