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Financial Advisors Say Hiding Cash At Home Might Be Problematic! Here’s Why
Pennygem
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1/27/2025
PennyGem’s Elizabeth Keatinge tells us why you may not want to hide cash at home.
Category
📚
Learning
Transcript
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00:00
So, you think you're pretty savvy, stashing cash in secret hiding places at home.
00:08
Well, that might be okay for some emergency cash, but hiding money at home actually may
00:14
have you missing out.
00:15
See, as Money Talks News highlights, you're missing out on free cash.
00:19
Putting money in an interest-bearing account will have it earning more than if it's under
00:23
your drawer.
00:24
You could also be earning even more if you invest it.
00:27
Hidden cash at home is also not FDIC-insured.
00:30
If you lose it, it's just, well, lost.
00:33
Can you tend to be forgetful?
00:35
Well, as U.S. News & World Report points out, you could also forget where you hid that cash.
00:40
Do you want your friends and family to end up searching your home when you die?
00:43
Don't be dealing with enough.
00:45
No need to add a depressing scavenger hunt to the list.
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