How to hide money (from yourself) (2024)

FAQs

Where can I put money so I don't touch it? ›

The Freezer

It's a way of life for many seniors. We've found everything from credit cards to gold coins frozen inside blocks of ice and plastic zipper bags filled with cash at the bottom of ice trays.

Check in unlikely places, like the backs of picture frames, inside books, throughout closets and in refrigerators and freezers for hidden cash or valuables. - Document cash and any possible valuables such as jewelry or art that you find.

Lock it away

If you already have a decent sum of money – perhaps an inheritance or a work bonus – then a term deposit is a very secure way to hide it. Think of it as the ultimate 'out of sight' savings plan. With a term deposit, your savings are locked away until the term ends.

In addition to keeping funds in a bank account, you should also keep between $100 and $300 cash in your wallet and about $1,000 in a safe at home for unexpected expenses.

Cash equivalents are financial instruments that are almost as liquid as cash and are popular investments for millionaires. Examples of cash equivalents are money market mutual funds, certificates of deposit, commercial paper and Treasury bills. Some millionaires keep their cash in Treasury bills.

Prepaid cards

A prepaid card (sometimes called a prepaid credit card or a prepaid debit card) allows you to store and spend money without a bank account. You can load money directly onto the card and spend up to that total amount. Money can be loaded at places like ATMs, participating stores, or online.

Some may stash rolled-up cash in pill bottles and hide it under the soil. Or, the entire plant may be in a much too-large pot, allowing for storage space under a smaller pot holding the plant. Another common place to stash valuables is in shoes.

Where are people most likely to hide money? ›

In a safe: 63.3% Inside the refrigerator: 13.3% In a suitcase: 6.1% In a closet: 5%

One of the easiest ways to create a small hidden space is to create a void between two walls. This needs to be done so that when you're in each room, you think the wall you're looking at is a common wall with the room next door.

(NIH) There are more hoarders in South Carolina than any other state. Most people with hoarding disorder don't realize they have a problem until it is pointed out to them. In fact, it can be hard to convince them that they have a problem.

Aside from the master bedroom, the office or study is one of the first places burglars check for valuables. Like the living room, some people have the habit of displaying valuables in their study shelves or office. That well-earned diamond necklace can serve as a motivation for you to work harder.

Regularly move the money you save out of your checking account into your savings account, where you'll be less likely to touch it before you reach your goals.

Once your CD matures, you'll have access to the amount you deposited as well as the interest you've earned. One big difference between a CD and a traditional savings account is that you cannot touch the money in a CD during the term.

Consider putting it in a high yield savings or money market account, which typically earn more interest than a traditional savings account. Having an emergency fund means that there's a supply of cash at the ready, so you don't have to use a credit card or tap your retirement fund if you encounter an unexpected event.