Patriot Federal Credit Union

Should I Keep Cash at Home?

keeping money at home imageI’ve been seeing posts all over social media about keeping cash at home during times of rapid inflation.

Keeping large amounts of cash in envelopes, kitchen drawers or stuffed under the mattress is not recommended during times of inflation – or at any other time. Here’s all your questions on handling cash during times of inflation, answered.

Why is it a bad idea to keep cash at home?

While it’s perfectly OK to keep some cash at home, storing a large amount of funds in your house has two significant disadvantages:

Where is the best place to keep cash?

In times of high inflation, and anytime at all, it’s best to keep the money you don’t need for day-to-day expenses in a place where it can grow. This way, the growth will serve as a hedge against inflation. When inflation is lower, your funds can grow generously, especially if you keep the money in a savings vehicle for an extended period of time. Here are some places you may want to keep your cash at this time:

Inflation is high, but that doesn’t mean it’s a good idea to hoard your cash at home. Follow the tips outlined above to find the perfect place to park your cash.


Share This Article:
Exit mobile version