If you work hard for your money, chances are you understand the value and worth of paycheck or cash that you earn. When you break a sweat and bust your butt for the money that you make, you likely want to keep it in as safe of a place as you possibly can. While most people turn to banks, how can you trust these institutions to hold onto the money that’s rightfully yours? If you need to find a new best place to store cash, this is the article for you.
Any prepper should know how to store money without a bank, as we don’t know what the future holds for them. We all know what happened during the 1930s with the Great Depression — what if something like that were to happen again? If your money is stored away in some bank and the economy collapses, there’s a good chance of not getting your hands back on your funds.
As a result of this, you need to find a place to store your cash elsewhere.
We’ve all heard of folks hiding their earnings under their mattress, but this isn’t any safer. If you truly want to know about the safest place to keep cash that isn’t the bank, here are 5 areas that we suggest looking into.
1. Start investing in precious metals
If you haven’t invested money in precious metals already, we suggest you change this right this very second. Precious metals include the likes of gold, silver, platinum, and copper, and these things will likely hold much more value in a Doomsday or apocalyptic scenario as opposed to United States Dollars.
Should a massive disaster come crashing upon our world causing our country’s government and economy to collapse, the USD will be nothing more than a little slip of paper that means absolutely nothing. However, real, physical precious metals will still hold their value just fine.
The chances of us converting back to a bartering system is rather unlikely, but should that time ever arise, you’ll be much better off with gold and silver as opposed to paper money.
Plus, if you start investing into precious metals now, there’s always the chance for you to make some money off of that said investment thanks to its appreciating value.
2. Turn your cash into other physical goods
If you really want to prepare yourself for a total economic collapse, you may want to consider putting your money into other physical goods. As mentioned above, the USD won’t mean a thing if/when the economy shuts down, so buying other products and assets with it could be beneficial in a disaster scenario.
Consider buying cars, watches, guns, etc. Try to go for things that will hold a good deal of value and will be constantly sought after. This will technically mean that you’re spending your money on other items and not getting it back right away, but it’s still worth considering if you really feel that a big change is coming our way soon.
This is a move that’s typically reserved for extreme preppers, and while we still suggest you consider it, it’s something that we only strongly recommend to those that are ready to commit to it.
Turning money into other items may seem a bit odd at first, but we’re pretty certain a couple cars will hold much more value in a Doomsday scenario than a few thousand dollars will.
3. Securely stash it away in your home
Although we don’t recommend storing your money under your mattress, there’s still an argument to be made for hiding your money in other secure parts of your home. US Dollars may not be worth anything in an apocalyptic setting, but in the world we live in today, it’s pretty much impossible to get by without any cash.
As such, there’s still a very good argument to be made for keeping ahold of the money that you have rather then sinking it into precious metals or other physical assets.
When storing your money at your home, we recommend keeping it in as safe and in a secure of a place as possible. You want to make sure that people can’t easily access it and that it is securely protected in some sort of safe or lockbox that will be difficult for something to break into.
If you have a basement or attic, try putting your money in a safe of some sort and then putting the said safe in one of these two locations. Hiding the safe among other items will help to keep it hidden, and if someone does happen to find it, they’ll have a difficult time getting into its contents without a key, fingerprint, or other form of access to open it up.
4. Inside a pocket of your shirt
This may not seem all that sneaky, but sometimes hiding money in places so obvious is the best route to go. While a safe will obviously provide you with more protection, who’s going to bother checking a shirt for loads of cash?
While we don’t recommend keeping every bit of your money in a shirt pocket, it’s still a very good place to keep little bits of money here and there. Your shirt won’t look any different in your closet or dresser drawer, and if there happens to be a situation where someone is in your house that shouldn’t be, they’ll likely never think of going through your mess of clothes to find extra dough.
Searching for the best place to store cash can seem like a challenging venture at first, but with a little knowledge and patience, it’s actually not all that difficult to find the perfect place for your money to rest. All of the following tips are some of our most recommended locations for keeping your money safe and away from the bank, and whether you follow all or just one of these tips, you can rest easy knowing that you cash is safe and sound.