7 Places To Stash Your Cash Outside Of The Banks

No.5: Cash Hidden Away

There are still many people who consider a hole in the ground, a shoe-box, a safe, under the mattress or a tea-chest(if you have enough cash), as places to hide or store cash. There are obviously huge risks in using any of the above, but it can be argued that bank deposits or other depositary or investment structures can be equally risky to store your hard-earned cash.

It is prudent to say that diversification is the key to mitigating or reducing risk so there's nothing wrong with having some cash stored safely at home and having cash spread out across other robust investment structures which collectively should give you good diversification, liquidity and peace of mind.

In Ireland now there are options in the area of safe deposit boxes. These can give you additional security for your cash, deeds, share certs or other valuable documents which may be better off out of the family home. Check out www.merrionvaults.ie