TaraCrooksUSAA's avatarTaraCrooksUSAAMoney Matters Blog | ‎10-10-2013 01:54 PM

Squirrel Away Some Cash

shutterstock_70877419.jpgWhen I was younger my mama used to freeze her credit cards in the freezer - literally - in a large block of ice. She did it so that if she were to use them she’d have the time that it took to thaw them out to think about what she was going to purchase and apply the “worth it” factor. One day she wanted to buy some furniture and she sent me home to defrost the cards. A life lesson was taught right there as I watched the ice melt.

 

I have a friend whose grandparents had some farm land and their parents (great-grandparents) buried all of their money in the front yard in jars in the ground. To this day they’ll go digging and find hundreds of dollars.

 

Most people who have emergency and rainy-day funds use banks to keep their cash safe. But there are still many others that keep stashes of cash around their home or in places other than the bank or their wallet. I like to call this their “squirrel money” – it’s all stashed away in a secret place.

 

While you won’t catch me burying money in my front yard or freezing my credit card, I will admit to having a squirrel stash of emergency gas money somewhere in my car. I can’t tell you where now ,can I?

 

Of course the standard - and by the way I’ve heard most checked by burglars - place to hide your cash is under your mattress. I’ve heard of many crazy places that people have squirreled the cash away, from a watertight plastic bottle in the toilet tank to the inside of an old sock in the bottom of the sock drawer.

 

Researching online, I read a comment to a story where a lady said she leaves hers in an envelope taped to the bottom of the cat litter box. She said if the thieves were desperate enough to check there they deserved the cash. Ha!

 

A few of my favorites I came across:

 

  • An empty box of frozen food – there’s a frozen asset
  • A fake electrical outlet
  • In a plastic baggie inside the flour or sugar
  • Inside a hollowed out book on a bookshelf
  • Inside a teddy bear
  • Inside a picture frame
  • Inside a DVD case

 

While I’m not advocating that you start squirreling away all of your savings, I did want to bring up a preparedness point - and a good reason to squirrel. The “what if” factor. What if you lost power? What if you couldn’t get to an ATM? What if you needed cash in a pinch? It’s never a bad idea to have some cash on hand and readily accessible. It’s also not a bad idea to have that cash in small denominations in the event of an emergency. So, figure out your favorite place and squirrel away!

 

INTERACT

 

Do you squirrel away any cash or are you strict to keeping it in the bank?

 

Where is the oddest place you’ve heard to squirrel away the cash?