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The 8 Wrong Places to Hide Your Cash

There are many reasons why people don’t put their money in the bank these days. One of them is that the money will not be available when it is needed. This is true, especially in this time of COVID 19 pandemic. There are queues in the banks that are frustratingly long because the banks are trying to operate with the guidelines from the Federal Government to curb the spread of the disease caused by the coronavirus. This cooperation of the banks with the Federal Government has thrown some banking operations, which used to be fast, back to the era when Nigerian banks do not use computers for their operations.

Picture used for illustrative purpose.

In those days, one had to go to the bank with a mat just to withdraw cash, an operation that does not take 5 minutes before the pandemic. ATMs are usually filled up and most times there is no cash to be dispensed in the machines. This problem won’t go away anytime soon because, as we hear in the news, the cure to the disease is not found yet. So, we will have to endure the hardship brought to the economy for a long time.

However, considering the situations in the banks these days, some have decided to put their money at home, so that it will be accessible when needed. But there are many wrong places to save your money at home. This article will point out those places and give reasons why they are not good for the safekeeping of money. 

1 Under Your Mattress or under your pillow: Although this practice has become a classic because it evokes the feeling of safety when you are sleeping on the money, keeping your cash under the mattress or your pillow is not a good idea. There are two reasons for this: under the mattress or pillow is where thieves will first search when they break into your home when you are not in, and is it hygienic to sleep on money, being that you don’t know who must have touched it?

2 In shopping bags: Even though thieves may not look for your cash in random shopping bags, they might need them to carry the stuff they stole. You don’t want to give the thieves a pleasant surprise, do you?

3 In Old Wallet and Hand Bags: Don’t put your emergency cash in your old wallet or handbag simply because you no longer use them. That you don’t use them anymore doesn’t mean they are safe places to stash away money. Thieves target wallets and handbags. They don’t care if they are old or not.

4 In Laundry bag or basket: You might think it is a good idea to keep your money in the bag or basket for keeping dirty clothes, thinking that no one would want to touch since they contain dirty clothes. However, thieves use them to transport stolen objects. So, a bag or a laundry basket might be just what they need.

5 Behind the Picture or Photo Frame: This is another classic. Most of us got this idea from watching movies. Thieves also watch the same movies as the rest of us. They won’t hesitate to check such sneaky places, even if it means breaking your most precious memories or piece of art.

6 In Draws or Cabinets: Thieves often go to steal with hammers, hacksaws, pinches, pliers, pincers, screwdrivers, and crowbars. They often do so when no one is around. So places like draws or cabinets are often the places they check.

7 In the Back Yard: Burying your cash in the backyard seems a very good idea. But it is not for three reasons: (1) Your neighbor might see you hiding it. (2) If you have a pet that loves digging holes, it can easily find your money buried in the ground. Some dogs are very curious. Even if it did not see you burying your money, it might out of curiosity, dig out your money for you. (3) Buried in the ground, your rainy-day fund may be ruined by rain.

8 Piggy Bank or Kolo: Especially in Lagos, the small safe where little amounts of money are kept for safekeeping is called kolo. It is a small cuboid made usually of wood and a slot on one of the faces for inserting the money. When we were little boys, we used them to save money. But the disadvantage is that it is easy to hide it and carry away, or break and steal.

“Where then should I keep my money at home?” some people will ask. Read the article 4 Places to Save Your Cash at Home.

Which of the methods stated above do you use to save your money? Let’s read about it in the comment section below.

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Thanks for hanging out.


 

Content created and supplied by: MartialMathers (via Opera News )

Federal Government Nigerian

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