Protecting Your Green
By booty, I mean what a pirate might call his cashola, mula, peso, mark, deniro,
bread…or just money.
I have a few, possibly contradictory philosophies about protecting one’s money.
But hear me out.
First and foremost, never, ever fight a burglar, mugger, robber or home invader
over money. If some whacko wants your dough, give it to him. I recommend keeping
“chump change” on your person, or even at home, which you can easily hand over in
the event of a violent demand. Toss it in one direction and run screaming in the
Keeping money under a mattress is generally not a good idea. Criminals flip over
mattresses and slice them with knives. Often, criminals target a victim who they
know has a mattress stuffed with cash, because the target told the wrong person
about the mattress’s contents, and that person turned rat for a cut of the loot.
Mattresses are also flammable.
A safe deposit box is a good idea, but not entirely practical. It usually costs
money to have one. A safe deposit box certainly has its value. It’s generally located
in a fire-resistant area of a bank, and is protected by a key. But there are drawbacks.
Ask your bank how much your box is insured for, if insurance is even available.
Also, keep in mind that safe deposit boxes are often located below ground, in areas
that may be prone to flooding.
Banks are the best option for storing your money. Keeping your money in a bank account
is the safest, as far as your personal security is concerned. Banks do “go under,”
and money has gone missing, like at banks in third world countries, but here in
the United States, banks are FDIC insured. And while a total meltdown of the banking
system can negatively affect your cash position, you should put your money in the
A safe is great. A SentrySafe Big Bolt is better. If you keep money in the house,
it is essential it be stored in a fire-resistant safe. Having money sitting in a
drawer or stuffed into a wall makes it vulnerable to thieves and fires. The caveat
is that you really shouldn’t keep an excessive amount of money in your home. But
I definitely recommend having emergency cash around.
If something like a natural disaster or serious power outage were to hinder your
ability to get cash from banks or ATMs, having a smart but not excessive reserve
can get you out of a jam.
Robert Siciliano is a Personal and Home Security Expert for SentrySafe. See him
Discussing burglar proofing your
home on Fox Boston.