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How Much Money To Keep At Home?

Last modified: Sep 29, 2022

Are you wondering how much money to keep at home? The answer, of course, depends on your situation. But some general guidelines can help you make a decision. 

This article will tell you everything you need to know about the benefits of keeping cash at home.  

How Much Money Should You Keep at Home?

If you want to know how much money you should keep at home in case of an emergency, the answer depends on a few factors. For example, if you live in an area prone to natural disasters and catastrophes, you may want to keep a more significant cash reserve.

Floods and flash floods have become quite common. In 2018, the US registered 20, which led to 49 fatalities.   

Another helpful tip is to keep a record of all your possessions. Home inventory helps with that and allows you to get all your insurance claims settled accurately and quickly.

Cash for 2–3 Weeks 

How much cash should I have on hand? Experts recommend having enough cash to cover two to three weeks' worth of expenses. This will help you if you can't access your bank accounts or there's a service disruption.

Shelter, Fuel, Food, Water, and Medication

How much emergency cash should I have at home? How much money you need on hand will also depend on your situation. If you have young children, you may want to keep enough cash to cover childcare costs so you can get to work. 

In general, it's a good idea to have a mix of money and other emergency supplies like food and water. This way, you'll be prepared for whatever comes your way. Also, remember to have some extra cash for medications and shelter. 

Best Places to Hide Money

There are many ways to hide money at home; if you're looking for a short-term solution, hiding money in a sock drawer can be effective. For something more permanent, consider hiding money in a false bottom drawer or behind a loose panel in the wall. 

If you want to keep your money hidden but accessible, try hiding it in an empty coffee can or another container. Whatever method you choose, make sure it's a safe spot that won't be discovered easily. So, let’s look at the safest place to keep cash at home

Strong box or Safe  

A strong box or safe is one of the most prominent places to store valuables, but it's also one of the best. If your home is broken into, a burglar is unlikely to have the time or tools to break into a strong box or safe. 

Additionally, make sure to invest in a good quality safe that is fireproof and waterproof. Here are some statistics that might interest you: 

Flood Insurance Statistics (2022)

Blazing WIldfire Statistics for the US

Alarming Burglary statistics for 2022

Secret Compartment 

If you don't want to invest in a safe, another option is to create a secret compartment somewhere in your home. This could be in a piece of furniture or behind a painting. But, again, make sure it's well-concealed and preferably fireproof.


Hiding money at home may seem like a safe and easy way to keep your cash out of sight, but it can be risky. Here are a few reasons why:

  • Burglars know where people typically hide their valuables, so your hiding spot may not be as secure as you think. 

  • If your home is burglarized and the thieves find your hidden stash of cash, they may take it all. 

  • If there's a fire or flood in your home, your hidden cash could be destroyed.

  • If you die without telling anyone where you've hidden your cash, your loved ones may never find it.

In Conclusion

So, how much money should you keep at home? This depends on your circumstances and needs, but a good rule of thumb is to have enough saved to cover two to three weeks of living expenses. Therefore, if an emergency comes up—you'll have the resources to get by without resorting to expensive debt options or taking out a loan. 


Where is the safest place to keep cash at home?

You could keep it in a fireproof and waterproof safe, bury it in a secret spot in your yard, or hide it in clever places around your house. You'll want to ensure that wherever you decide to keep your cash is out of sight and not easily accessible to potential thieves.

How much cash should I have on hand at home?

Some people like to keep a small amount of cash at home in case of emergencies, while others stow away more considerable sums. In general, anywhere between $50 and $100 is a good buffer zone for many people.

Is it safe to keep cash at home?

Yes, it is safe to keep cash at home if you follow these guidelines. But it is all about how much money to keep at home. There's no need to keep large sums of money at home unless you're saving up for something. So, only keep enough money on hand to cover your immediate needs. 


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