Hiding Your Cash At Home, Good or Bad Idea?

Veuer's Elizabeth Keatinge tells us what the experts say about keeping cash at home.

Transcript

00:00In the toilet paper roll holder, or maybe buried at the bottom of a box of unused kitty

00:06litter, there are plenty of secret spots to stash cash at home.

00:11But is it even a good idea?

00:14As Money Talks News reports, by keeping your money at home, you're missing out on inflation

00:19by not earning interest in a bank account.

00:21As Bankrate points out, there are risks in keeping cash at home.

00:25It's not FDIC insured, and as many vendors go cashless, it might not even be useful for

00:32certain things you need.

00:34Experian recommends only keeping enough cash at home for emergencies.

00:39Bankrate suggests enough to cover about two months worth of basic necessities.