Where to store cash properly and safely at home in case of an emergency
Created: 10/04/2022, 12:00 p.m
By: Franziska Kaindl
The police generally advise against storing too much cash at home.
A certain amount can still be useful in an emergency.
The corona pandemic has ensured that more and more Germans are paying by card: According to an EHI study, the proportion of transactions has increased from 26.1 percent to 37.9 percent.
Cash transactions, on the other hand, “decreased significantly”.
Nevertheless, in some cases it makes sense to have some cash at your disposal.
This was shown, for example, by a software error in card payment devices on May 24 of this year.
Due to the disruption, customers could only pay with cash in numerous shops nationwide.
But how much cash should you really have, or where is the best place to keep it at home?
How much cash should I have at home for emergencies?
The Federal Office for Civil Protection and Disaster Assistance (BBK) advises citizens to have a sufficient amount of cash at home.
A specific amount is not mentioned by the authority.
However, a reference value could be the recommendation of the Upper Austrian civil protection, which speaks of 500 euros per household in small bills.
How much money should be available also depends on the number of people in the household - you may have to reckon with a little more buffer to make ends meet for a while.
Do not choose a classic cash hiding place at home.
© Imago
It is interesting that the Germans keep even more: The Deutsche Bundesbank found out that private individuals have an average of 1,364 euros at home.
In the wallet are about 107 euros.
What is striking, however, is that the distribution of cash varies greatly.
While the majority keep little or no cash, there are a few who accumulate large amounts of cash.
Is there a cash limit in the house?
In general, it is not forbidden to have large amounts of cash in your own four walls.
Nevertheless, it is important to find a good remedy.
Because there is always a risk of theft or damage from water and fire, as Allianz Insurance informs.
In such cases, household contents insurance only covers a certain maximum amount.
If you store significantly more than this amount at home, you cannot hope for a refund.
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What are safe hiding places for cash at home?
Most cash hiding places at home are not necessarily creative, as the Südwestbank writes.
A survey by the insurance
portal knip
is said to have shown that every fourth person hides their cash in the refrigerator.
About one in ten chooses a spot in the closet, especially in the sock or underwear drawer.
Cash is also often hoarded under the mattress.
Then there is the storage box in the kitchen or the cistern.
These hiding places have long been known to burglars and are therefore by no means secure.
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Experts therefore advise making it as difficult as possible for thieves to get hold of the cash.
Places that are difficult to access or unclear are recommended.
The Alliance, for example, calls a frozen soup as a hiding place: banknotes are placed in a watertight bag in a soup and frozen.
Another suggestion is to bury the cash in a flower pot in the apartment or on the balcony.
According to the insurer, the safest is a safe or a safe.
This should be permanently mounted or walled in so that burglars cannot simply carry it away.
