Do you have money at home? Many people do not know these rules.
Experts say that keeping a certain amount of cash at home can be essential during emergencies such as power outages, when ATMs and digital payment options stop working, making cash necessary to meet daily needs.
Financial authorities and civil protection recommend that every household maintain a small cash reserve for unexpected situations. The Federal Office for Civil Protection and Disaster Relief warns that during power outages, ATMs and electronic payment systems may fail, making physical cash essential.
Civil defense experts in Upper Austria recommend keeping around 500 euros in small cash notes at home. Consumer organizations also advise maintaining a larger financial reserve equivalent to two to three months' salary, primarily stored in easily accessible savings accounts. Families are advised to keep higher reserves compared to single individuals due to higher living costs.
Experts warn against excessive saving in one place. Bank insurance protects deposits up to €100,000 per person and per bank only. Amounts exceeding this limit may be lost in the event of a bank collapse. Home insurance also covers only limited cash amounts in case of theft, usually between €1,000 and €3,500, unless stored in a safe.
Experts warn against common storage places such as under mattresses, inside books, drawers, cabinets, or kitchen containers, because thieves look there first. Safer alternatives include hidden safes and unusual places like electrical outlet cabinets, cereal boxes, frozen food containers, or toolboxes. Writer Dana Neumann emphasizes that smart storage and reasonable limits are key to protecting cash savings at home.