“Safe” and “secure” are not synonymous—know how to secure your safe!
For many people, keeping a modest amount of cash at home for unexpected expenses provides them with peace of mind. If you are one of those people, keeping that cash safe and secure should be your foremost concern. Instead of hiding your cash in an unusual (TV set) or usual (sock drawer) location, consider storing it in a fire resistant and waterproof safe.
However, remember that safes are only secure when used properly. For example, a safe that is not secured to a wall or floor can be easily carried away by humans and flood waters.
We’ve compiled a list of common types of safes and locks to consider for at-home use:
1. Diversion safes that hide in plain sight.
Pro: Small and portable.
Con: Be wary of prying eyes when you open the safe.
2. Wall and floor safes are accessible without taking up space.
Pro: They are easily shielded, disguised, or hidden behind other household items.
Con: Installation can be time and labor intensive.
3. The traditional combination dial lock.
Pro: Immune to power outages and other electronic issues.
Con: Generally, the code is set prior to purchase and can’t be changed. If you did ever need to alter the code, you’d need to hire a locksmith or safe technician.
4. The electronic (digital) safe with a keypad.
Pro: Codes can be changed—important if you want to change your combination on a regular basis for security purposes.
Con: Don’t let the batteries die or you’ll be temporarily locked out of your safe.
5. The secure and reliable key only safe.
Pro: Low cost and low maintenance.
Con: Don’t let the keys fall into the wrong hands or you’ll easily compromise the security of your cash and other valuables.
While there is no foolproof way to completely protect your cash from theft or a natural disaster, having a safe can minimize your risk of loss. The type of safe or lock used to secure your valuables will depend on your specific needs and preferences, but any option will probably provide more security than your mattress.
And although it’s important to secure your cash, don’t have a safe that is “too secure,” meaning that no one, including yourself, can get into it. Make sure you always have the means to unlock the safe.
THE BOTTOM LINE
Security is a top priority for at-home safes and so is accessibility. Choose a safe style and lock type that fits your lifestyle to reduce your risk of loss. But don’t forget the unlock code or where you hid the key.
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Featured image provided by Capital Benchmark Partners