3 reasons why hiding cash at home is a terrible mistake
The cash you stash under your mattress would be better off in a bank. See three reasons you shouldn’t hide cash at home.
So many people actually think it is a good idea to hoard or hide some cash in their home in order to have easy access to it whenever they need it.
Well, having some money in your home isn’t totally a bad idea because we all keep some money on hand to address some financial needs.
However, having too much of it could backfire if you think stashing it under your mattress or in your safe is better than keeping it in the bank.
Many things could happen to the money you keep at home. Here are three reasons you should not stash too much cash at home.
1. Stashing cash at home gives you no interest
The first reason why hiding cash at home isn’t a great idea is that it won’t yield any interest.
Granted, the interest you get from your bank might not be a big deal, but trust me, every kobo counts. Why keep it at home when you can make some interests by saving it in a bank?