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How to Hide Money and Jumpstart Your Savings
September 28, 2020

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How to Hide Money and Jumpstart Your Savings

Sometimes, the reason why you can’t start or sustain your savings is right in front of you: yourself. It takes a lot of self-discipline to manage your savings and to refrain from spending all of your funds on expenses and impulsive buying. As long as you know you have money, you cannot stop the urge to spend it. And, sometimes, you are unable to protect your money from other family members.

This is a pretty common narrative for most people. In reality, almost 25% of American households have little to no savings. Most say that banks are not accessible for them, thus the lack of savings. But there is still the best way to save money without a bank; it starts in yourself, and even in the very comforts of your home.

How to Hide Money and Jumpstart Your Savings

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How Hidden Savings Work

There are two simple, highly effective ways to hide money for a wealthier future.

The 50/30/20 Method

This is a widely known savings scheme that can help you determine how much you should store for your savings. It basically means you allocate 50% of your income to needs, 30% to wants, and 20% to your savings.

Finding a Place to Hide Money

Now that you know how much money to save, the next question is where to store it. The top answer would be in your home, where it is safe and accessible. But there are still many places where you can cache savings that are more suitable for your financial goals.

What Are the Best Places to Hide Money?

You’d be amazed by the many creative ways and places where you can hide money! It doesn’t always have to be physically stored – it can also be through investments and other sources of additional income.

 In Your Own Home

This is the most traditional and conventional way of stowing away money. There is no need to go far because you can opt to let your savings thrive in your very own home. While it is convenient to store money in your home, it can be more vulnerable to robbery.

The natural question would be where to hide your money at home. Here are some innovative and crafty ways of storing savings in your home and personal residence:

  • In a Ziploc bag, taped underneath your bookshelves or kitchen cabinets
  •  In the spines of books—in between pages of books is already cliché, and prone to being lost
  •   Inside empty bottles or containers, stored in cabinets that are far from people’s reach
  • Unconventional places so that other people who enter your house would not find out (for instance, in your kid’s toys or room decorations)
  • In an envelope attached to the back of a painting, tapestry, or another kind of wall decoration

The list goes on, and you can even devise your own storage using whatever space and resources are available in your house.

The Envelope Method

This is another trick as old as time, and many are wondering whether this method still works. Set in perspective, it still does! It mainly contributes to greater moderation to your spending. Basically, concealing a portion of your money in an envelope decreases the probability of you spending it. So, your savings will be increased.

Envelopes can also divide where you will spend your money. For example, you can store your income in three separate envelops, each representing the following: your needs, wants, and savings or debt repayment. The envelope system sets a clear line on how and where you will spend your money.

Cashback Systems

You can save money in the form of points when you purchase certain items via cashback-supported platforms. This is pretty common for online shopping applications and websites.

When purchasing items online, you can receive points or cashback rates that indicate the amount of money that you can receive upon buying the item. In a way, you are storing part of your money in your online, virtual shopping wallet.

This is also applicable to grocery stores. Those who do the obligatory grocery shopping can save up to $10-$20 from point systems and card reward schemes. Make sure to capitalize on this advantage.

Different Savings and Checking Accounts

To stop robbing your own savings from your bank account, it is wise to have a separate savings and checking account. Having a separate savings account from the personal account you use to withdraw funds from can ultimately help yourself in diligently dedicating money and keeping it in your savings.

The trick in hiding money is to create ways that make spending money too much of a hassle for you. Hence, it is ideal to store your savings in a bank that you do not routinely visit or is too far from your area. That way, you’d think twice before spending your stashed cash.

Set Up an Online Banking System

There are already online banks that guarantee confidentiality and security to their customers. Such banks safely store your money and are a great platform if ever you wish to hide money from other members in your household, especially your spouse.

These confidential online banks do not mail statements to your home address, thus avoiding the risk of these statements ending up in the wrong hands. You can also take your mind off the fact that you have money stored somewhere, hence increases the chance of letting that money grow on its own.

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Safety Deposit Boxes

If you have the time and the luxury, safety deposit boxes are among the best places to hide large amounts of cash. There’s nothing safer than these boxes – even bank personnel are not allowed to know the contents of the boxes. Only you have access to your vessel.

However, most financial advisers do not recommend this, for your money does not earn any interest, and simply remains stagnant. Thus, they prefer personal bank accounts.

But it’s your money, so you have control over what you do with it. If you’d rather lock it up in someplace safe, then you can add safety deposit boxes as one of your viable options. Boxes rentals can cost from about $20 to $200 a year, depending on the location and size of the box.

Some Things to Be Wary of When Hiding Money

Despite the convenience, there are still risks to the crafty methods of hiding your money to save. These risks can lead you to incur more losses than the amount you will be able to save.

Savings Stagnancy

When you store your money in places that do not accrue interest, your savings can soon stagnate. The advantage of depositing money in interest-earning banks is the compound interest you can earn off it.

Vulnerability to Robbery

Having an unsecured and DIYed savings storage can open your money to higher chances of robbery. You’d be able to sleep more soundly if you know a secured bank or broker is handling and storing your money.

Increasing Inflation

As your savings stagnate, economic inflation can quickly eat it up. As the value of your savings remains the same, there is no guarantee that the prices of goods remain constant as well. Leaving a large sum of money lying around can be counterproductive if you wish to achieve your long-term financial goals.

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How Hiding Money Can Help

Hiding a portion of your money is really beneficial when planning to store up savings. There is truth in the saying, “out of sight, out of mind.” Keeping your money away from you can be a huge step towards building stronger self-discipline and moderation in spending. Some benefits you can enjoy in stashing away a few bucks include:

  • Accessible emergency funds – there’s no need to rush to an ATM or bank just to withdraw funds in emergency situations/
  • Limited spending – locking away some of your money can limit unnecessary spending and boost your savings.
  • Generally, having savings can ultimately help you out in the long run, saving you from the risk of bankruptcy and unsettled debts.

Reasons Why Others Choose to Hide Their Money

Why did people choose this method of saving up money, and where did this trend in financial savings originate? There is no definite source, but here are some of the common reasons as to why more people are hiding away their money:

Unable to Comply With Bank Regulations

1 Maintaining fees and bank regulations can be too stringent and restricting, especially for those living with smaller sources of income. It would be much easier to store money by yourself, instead of incurring additional fees for being unable to adhere to banking rules.

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Financial Infidelity

2 This is the act of hiding money from your wife or husband. According to a survey conducted by, about 44 percent of Americans admit to committing this for the reasons of having greater autonomy and independence in spending their income.

Fear of Recession

3 According to an article from CNBC, 17 percent of Americans have hidden money in their houses in the fears that the economy would undergo a recession. Moreover, they have been more conservative when it comes to their financial management.

Handle Your Savings in the Most Secure Way With DebtQuest USA

Given the financial threats of simply storing away your money, it should be noted that you should not resort to haphazard methods in managing your financial savings.

At the same time, it is advisable to consult with reputable financial counseling institutions that can help you in making the right and informed decisions when it comes to your finances. Start your journey to a more secure method of saving with us at DebtQuest USA!

DebtQuest USA is a debt settlement company that prides itself on helping American households attain financial independence by paying their dues and resolving their loans and debts. This is achieved from the effective financial advice given by the company to its constituents, and its rigorous promotion of secured and self-generating savings. Talk to one of our representatives now, and let’s discuss secured and innovative ways to start a prosperous and profitable savings method.

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