Even if online payments and plastic have made it easier than ever to pay for stuff, it’s still a good idea to have a little cash on you. Whether it’s paying a babysitter at home, an emergency situation, or you’re traveling abroad, you should always have a little cash around. However, that means knowing how to keep that cash safe.
Here are five tips that will ensure your cash is safe, whether you have it stored at home or you’re taking it with you while traveling.
Minimize the Cash You Carry With You When You Travel
It’s true that you should have some cash when you travel, but that doesn’t mean you should stuff every dollar you have in your pocket before you head out the door every day. Instead, you should minimize the amount of cash you carry with you.
For example, you might place a little bit of money in a front pocket before you head out the hotel room door, but you leave the rest of your cash back in your hotel room. That way, if some of your cash does get stolen, it isn’t all gone.
Worried about not having enough? You can always use a convenient money transfer service to have a little more money sent wherever you’re staying!
Use Special Accessories to Carry Your Cash When You Travel
You’re probably used to keeping money in a purse, backpack, or wallet. Thieves are banking on this fact when they see you exploring an area you obviously aren’t familiar with. That’s why you should use special accessories to store your cash instead.
A few examples include:
- Money belts that are worn like a fanny pack under your pants
- Neck pouches that hide under your shirt
- RFID wallets that can’t be scanned by malicious devices
- Travel backpacks that feature tear-proof fabric and hidden zippers
Rethink How You Use Safes
Most people think the safest place to keep cash and other valuables is in a safe. That goes for travelers staying in a hotel and homeowners. Unfortunately, that may not be the case.
For example, most hotels have a universal code that enables them to unlock the safes in their hotel. That makes it easy for a thief to take off with whatever you have hidden inside.
If you have a safe in your home, and a burglar manages to find it, you can bet they will either break into it or take it with them.
If you’re staying in a hotel room, use the safe as a place to keep important items, like your passport, so you don’t forget where they are and hide your money somewhere else. At home, make sure you choose a fireproof, secure safe that can be bolted to the floor.
Don't Keep Cash Where Burglars Would Expect
As mentioned above, it’s a good idea to leave cash out of the safe and use it to store important documents instead. After all, a thief is usually looking for money, not passports.
Instead, store cash where a burglar wouldn’t expect to find it. A few ideas include:
- Hiding cash inside the shower curtain
- Store it inside a plastic baggie in the freezer
- Place cash in an envelope and tape it to the back of a picture frame
- Tape it inside an envelope underneath a dresser drawer
There are two places you should never hide your cash—under the mattress and in a sock or underwear drawer. A thief will always look for cash in these two places because they are common hiding spots.
Don't Let Your Guard Down Around Family
Unfortunately, it isn’t just burglars breaking into your home that you have to think about. You have to consider your family, friends, and domestic workers as well. Up to 90 percent of theft cases involve someone the victim knows.
Make it obvious to your friends and loved ones that you only store documents in the safe so no one is tempted to crack your code and get inside. Keep money out of your purse, especially if you have teens around. When you do decide on hiding places for your cash, keep them a secret so that one niece of yours doesn’t overhear you talking about where you’re keeping your money these days.
Whether you’re at home or you’re on the road, you have to keep your cash safe with these five tips. If you don’t, you just may discover that someone has taken off with your hard-earned money!