Why Not to Hide Cash Around The House

Why Not to Hide Cash Around The House

I recently read an article about clever ways to stash money around the home using sneaky locations to trick burglars so they can’t find your cash. While these recommendations to roll up bills inside a flashlight or tuck cash inside an old children’s toy may sound fun, I can’t help but think of this from a different perspective. After the person who hid the cash had passed away, those left behind will be sorting through their belongings, unaware of what may be hidden.

When my mom died, she left a mountain of stuff. Everything from never used items with tags still on to decades old clothes from when I went to high school (some things should really never come back into fashion). She left books, old purses, day planners and random knick-knack thing holders.

Every so often, I’d find some money in a pocket or nook, between pages of a book or just stuffed somewhere. Money could be left inside a wallet or an old purse so it makes sense to take a peek, but after finding cash in the oddest of places we felt compelled to look in every possible spot as we were gathering items for donation. My sister recalled bagging a pair of slippers for donation, then that unsettling feeling came over her that she missed something. Sure enough, my mom had wedged $100 bills in the toe of a slipper!

She certainly wasn’t hiding the money from us kids – we had long since all moved out of the house. Now, my dad needed these funds for his own living expenses so everything we found was a blessing. However, we got to a point where we had to acknowledge we were going to miss some of the hidden cash and whoever picked up our donation in the thrift store would get a very nice surprise!

In all likelihood, my mom probably just forgot where she stashed it. Regardless, putting cash in a secret hiding place only to have it donated, thrown out or where nobody can find it—not even you—is certainly not the result the cash stasher intended. It’s better to put your cash in a bank or fire-safe box at home. It’s not as “clever” as other hiding places, but at least you’ll know where it is if you want it!

Cynthia Flannigan
Cynthia Flannigan
cynthia@mainstreetplanning.com

Cynthia made the shift to financial planning to guide clients through making good financial decisions through both grim and exciting changes in life. More than anything, she thrives on helping people. She obtained her CFP designation in 2008 and completed a masters in financial planning and taxation at Golden Gate University.

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