Millionaires Live by These Rules To Build Wealth

Millionaires Live by These Rules To Build Wealth — Experts Explain If They’ll Work for You

Angela Mae   Mon, January 27, 2025  GOBankingRates

There’s an estimated 24.5 million millionaires in the United States. That’s a relatively small percentage of the country’s population, but it’s also not zero — meaning it’s very possible for more people to achieve “millionaire” status. It’s all about being strategic and intentional with your money and financial decisions.

If you’ve decided to truly pursue the goal of becoming a millionaire, you might be wondering how to get started. What types of rules do millionaires — especially self-made ones — follow to build (and maintain) their wealth?

Here’s the answer, according to a Forbes article, and how well the average person can follow those rules to do the same, as per the experts.

Pay Yourself First

Building wealth can take a while, but you can get yourself on the right path by prioritizing saving money before you prioritize spending it. In other words, pay yourself first.

According to the Forbes article, you should be saving 20% to 30% of your total income. This means you should save $20,000 to $30,000 for every $100,000 you make. You can do this based on either net or gross income, but gross will result in greater savings potential.

“By prioritizing savings and investments before any discretionary spending, individuals ensure that they are consistently building wealth,” said Shirley Mueller, founder of VA Loans Texas. “The earlier you begin this habit, the more time your money has to grow, particularly through the power of compound interest.”

Live Below Your Means

Millionaires stay millionaires not because they flaunt what they have or spend their money with abandon, but because they live below their means. But they become millionaires because they also think big.

This means spending less than you earn, which could entail eliminating those unnecessary expenses or reevaluating your budget. And it means dreaming of — and planning for — a bigger future.

“Resist the urge to splurge! Once of the most common financial mistakes people make is to drastically increase their expenses as soon as their income increases,” said Melissa Murphy Pavone, founder at Mindful Financial Partners.

“Avoid the urge to spend more as you make more. Instead save more. Invest the difference. As you get a raise, give yourself a raise. Increase your 401(k) contribution. Add to your emergency fund. Your future self will thank you.”

Be Strategic With Debt

TO READ MORE:   https://www.yahoo.com/finance/news/millionaires-live-rules-build-wealth-210100915.html

How To Avoid, Prevent 'Financial Infidelity' In Your Relationship

How To Avoid, Prevent 'Financial Infidelity' In Your Relationship

Brad Smith  Mon, January 27,  Yahoo Finance Video

Bankrate Senior Industry analyst Ted Rossman joins Wealth to discuss how couples can avoid financial infidelity in their relationships.

According to Rossman, secret spending is the most common form of financial infidelity, followed by hidden debt and concealed credit cards or bank accounts. He explains that people often hide financial matters because "they feel ashamed about the way they handle money" or they're seeking independence, noting "it's hard for people to mesh those money personalities."

Rossman advocates for the "yours, mine, ours" approach to money management. This strategy allows couples to be transparent about joint expenses while maintaining some financial independence. "Increasingly, people are craving some sort of financial separation, even within a relationship," he states, citing that 60% of couples maintain separate accounts.

Rossman emphasizes transparency as the key distinction: "It's financial infidelity when it's a secret." He stresses the importance of open communication, adding that couples should discuss "not just where it's going today but also where you want it to go in the future."

To watch more expert insights and analysis on the latest market action, check out more Wealth here.

This post was written by Angel Smith

TO READ MORE AND VIEW VIDEO:

https://www.yahoo.com/finance/video/avoid-prevent-financial-infidelity-relationship-200500599.html

When Financial Infidelity Rears Its Ugly Head

When Financial Infidelity Rears Its Ugly Head

Maurie Backman  Mon, January 27, 2025  Moneywise

I found out my wife, 52, has more than $90K stashed in a secret savings account. What do I do now?

Money can be a point of contention in any marriage. And sometimes, the tension it creates can have big consequences.   Roughly two-thirds of U.S. divorces happen to couples in their 20s, 30s and 40s, according to the American Psychological Association. But the rate of divorce among adults 50 and older doubled between 1990 and 2010. And as of 2019, 36% of U.S. divorces were among adults 50 and up.

Now there are various factors that can lead to divorce, but money tends to be a big contributor. And if you're in your 50s and just found out that your wife has been secretly hiding money in a savings account throughout your 20-year marriage, you may be experiencing a range of emotions, from anger to sadness.

You may also be wondering how to cope with the news — especially if you're talking about a large sum of money like $90,000.

But divorce isn't necessarily the answer. There may be ways you can salvage your marriage and move forward in a more open and honest fashion with one another.

When financial infidelity rears its ugly head

Financial infidelity can take on a lot of forms. For some couples, it can mean one person racking up scores of debt and keeping it a secret. In others, it can mean having a hidden savings account that isn't shared with a partner.

A recent study shows that more than 40% of U.S. adults who are married or live with a partner have kept a financial secret from their significant other.

This is consistent with a late 2021 survey by the National Endowment for Financial Education (NEFE) which found that 43% of U.S. adults have engaged in financial deception.

The most common type of financial infidelity identified was hiding specific purchases, bank accounts, statements or cash (39%), followed by racking up debt in secret or lying about money that was earned (21%).

How to cope with financial infidelity

Financial infidelity can be a tough thing to get over. The NEFE says that among couples who experienced it, 32% wound up with less trust in the relationship. And for 16%, it ultimately caused them to separate their finances or get divorced.

TO READ MORE:  https://www.yahoo.com/finance/news/found-wife-52-more-90k-120500120.html

9 Important Financial Emergencies and How To Deal With Them

9 Important Financial Emergencies and How To Deal With Them

Personal Finance - Janice Friedman - May 23, 2019

DO YOU HAVE AN EMERGENCY FUND?

Have you ever encountered a financial emergency? What was it about, and how did you deal with it? Here, we will explore some of the most common financial emergencies and how to deal with them.

9 Important Financial Emergencies and How to Deal with Them

Have you ever been in a situation that requires you to use some finances which you had not anticipated?  In life, we’re sometimes faced with sudden inevitable occurrences.  Whether a sudden sickness, job loss, or sudden demise of a loved one, different financial emergences occurrences require us to dig our pockets deeper to fix them.

I’ve been using Personal Capital to plan for a financial emergency. I can use it to monitor my emergency fund and see how much cash is embedded in my net worth. Best part it’s completely free to use.

Financial freedom is all about having the flexibility to live completely free without any burden even if there is an emergency. Even if you’ve achieved financial freedom, building some sort of buffer in your financial plan for financial emergencies is important.

Before we explore more on the different types of financial emergencies and ways to deal with them, let’s look at what a financial emergency is first.

So, What are Financial Emergencies?

Financial emergencies are unexpected situations that require one to use some money that they didn’t intend. What happens when you find yourself in need of cash abruptly from an unanticipated event is what is referred to as a financial emergency.

If not resolved on time, it can pose immediate grave repercussions. These emergencies can occur at any time and in any circle of life, including at home, and work and more.

Since you can’t prevent some of these emergencies, the prudent thing to do would be to plan for them. That is, make sure that when the unexpected event occurs, you have some cash stashed somewhere to cushion you from the impact.

Although you cannot entirely plan for everything, having a fall back plan or some backup is always crucial.

List of Most Common Financial Emergencies

Here are 9 of the most severe financial emergencies you are likely to encounter.

Major Medical Emergencies

Some health or medical emergencies are beyond our control, and no matter how much we try to stay healthy and fit, they still occur. Although we all want to believe that we won’t get sick, planning for such things before they happen is the best thing to do.

TO READ MORE: https://millionairemob.com/financial-emergencies/

7 Ways to Develop Financial Trust in Your Relationship

7 Ways to Develop Financial Trust in Your Relationship

Harris Financial Coaching

If you find that you're constantly fighting about money or hiding how you spend money from your partner, it may be time to rethink your relationship goals and values. Fighting about money can create tension in a relationship and make it challenging to accomplish future goals. When one spouse gets frustrated with the other, it can seem like you're on an island all on your own, trying to resolve a difficult situation. How can couples develop and build financial trust in their relationship?

From creating a long-term goal to paying bills on time, here are several tips for developing financial trust in your relationship.

Share a Joint Credit Card

Opening a joint credit card is a great way to build and develop financial trust. Being transparent and on the same page when it comes to handling money is a crucial aspect in any relationship.

This allows couples to develop a line of credit that'll benefit future investments if both parties maintain a good credit score. It also helps couples define their combined budget, savings, and expenses more than having completely separate finances.

- Gigi Ji, Head of Brand and Business Development, KOKOLU

Establish Clear Boundaries

Couples can develop and build financial trust in their relationship by establishing clear boundaries. In other words, couples need to define what's theirs and what's not clearly. This can help them avoid unnecessary conflicts and misunderstandings and prevent any nasty surprises when one partner wants to spend money on something they've already agreed not to do.

It's also important for couples to address any financial disagreements as soon as possible so they don't fester and become bigger problems later on. When couples ignore their financial disagreements, it can lead to resentment and even result in divorce. Therefore, I believe couples who can talk about their money issues openly and honestly are much more likely to find a solution that works for both parties. - Tiffany Homan, COO, Texas Divorce Laws

Have Regular, Transparent, and Productive Discussions

One way for couples to develop financial trust in their relationship is to have open and honest conversations about finances. This includes discussing each person's income, debts, expenses, savings goals, and any other financial matters that could affect the relationship. It's important for couples to be transparent with each other about their finances and to come up with a plan that works for both of them.

This could include setting a budget, discussing how to save money, and creating an emergency fund. Having these discussions can help couples build trust in each other and their financial decisions, as well as provide peace of mind knowing that both partners are on the same page. - Michael Alexis, CEO, Tiny Campfire

Be Open and Honest About Financial Situations

In marriage, finances are an important issue. One way for couples to build financial trust is by being open and honest about each of their financial situations. Couples should communicate with each other about their income, debts, and investments. They should also agree on a budget that works for both parties. This will ensure they're each aware of how much money is coming in and where it's going. - Jennie Miller, Co-Founder, Midss

TO READ MORE: https://www.harriscashcoach.com/post/7-ways-to-develop-financial-trust-in-your-relationship?fbclid=IwAR2n1HJnL5Bh_R2jMZNHOU06ddMY8ZG5bKwWwxVhSmhawzLmYu0iZroF8o0

9 Unexpected Obstacles To Plan For Before It’s Too Late

Jordan Rosenfeld  Fri, January 24, 2025  GOBankingRates

If you find yourself in the lucky position of either passing along your wealth to your heirs or receiving a wealth transfer from a relative, this is an exciting thing, but it does come with some legal and financial concerns if not done well.

To save you and your beneficiaries from expensive hassles, experts offered nine obstacles to prepare for and get ahead of to avoid messy court battles or tax implications down the road.

Not Laying Out a Vision

Kevin Landis, a CFP, chartered financial analyst and senior vice president with Wealth Enhancement Group, said there are two main types of wealth transfers for those who are not uber-wealthy. The first is beneficiary wealth, leaving your estate to your beneficiaries, and the second is legacy wealth, setting up something that “goes on in perpetuity” such as a trust. You want to decide what kind of wealth transfer is right for you and your beneficiaries ahead of time.

“The bottom line though is just [creating a] vision of what you’d like to see done with your money,” Landis said.

If you don’t leave instructions for your vision, you not only lose control over how your wealth will be disbursed, but you could leave your heirs with a messy legal process on their hands to figure it out, too.

Not Clarifying Tax-Qualified From Nonqualified Assets

Landis shared that the IRS considers wealth transfers such as IRA and 401(k) accounts as “tax qualified” because they have tax benefits. Nonqualified money includes such things as stocks, bonds, brokerage accounts and certificates of deposit (CD).

“So there’s a 10-year rule now that if the kids receive anything that’s tax-qualified, that money has to come out of that tax preferred environment within 10 years, but they lose up to a third of it in income taxes.”

With preplanning, heirs can create a strategy to offset some of that transferred income with other deductions to minimize taxes, he explained.

Not Getting Things in Writing

It’s not enough to just tell your beneficiaries what you want — it needs to be in writing, just in case anyone else contests the right to your money or assets, Landis said. Not having things in writing can send your estate to probate, a long, expensive and often protracted legal process that can also create bad blood among family members and other beneficiaries.

TO READ MORE:  https://www.yahoo.com/finance/news/wealth-transfers-9-unexpected-obstacles-190015566.html

The Most Common Banking Mistakes

The Most Common Banking Mistakes

I’m a Financial Advisor: Here Are the Most Common Banking Mistakes I See Among Clients

Laura Bogart   Thu, January 23, 2025  GOBankingRates

Financial advisors have seen it all. From people who are burdened by six figures of credit card debt to millionaires, their clients span a range of backgrounds, income, stages in life, and relationships to money. That’s what makes their jobs equal parts challenging and rewarding.

However, as financial advisors gain experience, they come to observe a few general patterns in their clients’ banking and how they manage their finances. And in those patterns, there are some common mistakes. Fortunately, almost every mistake provides an opportunity for people to learn more and do better — if they know where to start.

GOBankingRates connected with a few financial advisors to learn more about the common money mistakes they’ve seen and to share their advice for avoiding them.

Taking a One-Size-Fits-All Approach to Retirement

As the Founder and CEO of 11 Financial, Taylor Kovar has helped a lot of business owners achieve their financial goals over the years. However, he’s also seen that many of his clients, particularly business owners, are reluctant to retire completely, even as they reach the age where a lot of people are ready to sail off into the sunset professionally.

Though society often portrays retirement as carefree, there are also many individuals who want to stay involved in the businesses they’ve built, even part-time. Those people sometimes don’t realize they can factor continued income from their businesses into their retirement budgets. Worse, they may avoid budgeting for retirement altogether because they think it would mean giving up their passions. And if they choose to stay working, even at reduced hours, failing to account for taxes can become a costly mistake.

 “It’s important to remind clients that retirement doesn’t have to look like the traditional model,” said Kovar. “They can create their own version that allows them to continue doing what they love, just at a different pace.”

Leaving Money in a Traditional Savings Account

For Andrea Woroch, a nationally recognized consumer finance and budgeting expert, one of the biggest, most frustrating errors people make is leaving money on the table by keeping it in a traditional savings account.

TO READ MORE: https://www.yahoo.com/finance/news/m-financial-advisor-most-common-183009744.html

4 Common Fears About Money To Overcome

4 Common Fears About Money To Overcome

Heather Taylor      GOBankingRates

Most people share certain types of financial fears in common. Some will be able to overcome these fears with support, but others will let fear rule the rest of their lives. Leading a life where financial fears take top priority can keep you trapped in an unhealthy financial mindset. It can even lead to losing money throughout your lifetime.

Even if you feel scared to do it, it is possible to break the cycle and develop a healthy financial attitude where money is viewed as a tool that can help, not hinder, you. Here are some of the most common financial fears and what it takes to overcome each one.

Fear of Going Broke

Let’s start with one of the most common financial fears: going broke or even bankrupt.

This is often a learned money belief or habit, said Chloe Elise, certified financial coach and CEO of Deeper Than Money. Typically, the person who holds this fear has observed it from their parents or grandparents.

“They look at money as always being scarce, and they fear they will run out,” Elise said.

While this belief can be extremely difficult to break, the ultimate goal is to view money through an abundance mentality. Elise said some of her clients adopt the mantra “money flows to me” as a way to start welcoming money into their lives.

It takes more than a mantra though! To start welcoming money into your life is to watch your money work for you. Elise’s favorite recommendation for doing this is to keep your emergency fund in a high-yield savings account.

“With total liquidity and no risk, a HYSA is an incredible way to begin to see interest accumulate on your account by doing nothing,” said Elise, who adds that as of right now interest rates are over 3%.

Once you do this, Elise said you can start to look into other investments, like retirement accounts or real estate. This eases the fear of stepping outside of your comfort zone and increases the likelihood you will be rewarded.

Fear of Checking Your Bank Account

Who among us has indulged in an expensive weekend out, or a week-long vacation, and then felt paralyzed with fear about what their bank account will look like in the aftermath of these pending transactions?

Here’s what happens when you don’t check your bank account today. You’re not likely to check it tomorrow or the day after.

“What often happens is we let this feeling of guilt and shame from spending money spiral,” Elise said. Before long a month passes and you start to experience anxiety about facing your finances.

To overcome this fear, Elise recommends planning as much in advance as possible. If you are going on vacation, Elise said you can create a bucket in your savings account specific to the trip.

TO READ MORE: https://finance.yahoo.com/news/4-common-fears-money-overcome-160015068.html?fr=sycsrp_catchall

9 Bad Money Habits To Ditch in 2025

9 Bad Money Habits To Ditch in 2025, According to Rachel Cruze and George Kamel

Angela Mae  Mon, January 20, 2025   GOBankingRates

Personal finance gurus Rachel Cruze and George Kamel recently released a video about things to stop doing with your money in 2025. In the video, they covered some key bad money habits people often fall victim to, many of which require some degree of work to break.

If you want to improve your own financial habits and start 2025 right, here’s what Cruze and Kamel suggest you stop doing right now.

Putting Your Financial Goals Aside

If you’ve been putting your financial goals on the back burner, it’s time to make a change. Don’t wait to do something good for your finances. Do it as soon as you can.

According to Kamel, people often say, “I’ll just do it next year, I’ll get to that later or I’ll save when I’m older.” But this can be problematic since, in most cases, working toward and achieving those goals takes time. The longer you wait to get started, the harder it is to get to where you need to be.

Not Knowing What’s in Your Bank Account

Cruze pointed out that many people don’t really know what’s actually in their bank account when making a purchase. This ties in to the concept that ignorance is bliss, but it’s a problem when the money simply isn’t there — or should have been saved for something more important.

Kamel gave the example of someone who says, “I don’t want to look at my bank account because I don’t need that negative energy in my life.” This leads to avoidance rather than a tangible solution.

Judson Brewer, a psychiatrist and doctor, told Chime that financial avoidance tendencies stem from survival instincts, in which we try to avoid pain and seek pleasure. In fact, unexpected bank fees, including overdraft fees, affected 20% of Americans in 2023, per a Chime study.

Using Your Credit Card as an Emergency Fund

TO READ MORE:  https://www.yahoo.com/finance/news/9-bad-money-habits-ditch-160018000.html

8 Purchases You Should NEVER Make With Your Credit Card

8 Purchases You Should NEVER Make With Your Credit Card

In an attempt to keep their money safe, most Americans are tempted to reach out to their plastics instead of paying with cash. While there are many disadvantages when paying with cash, such as security, credit cards are no good either. At least not when referring to certain purchases.

Your credit card is not the best form of payment, especially when you’re struggling with debt. Fortunately, if you’re facing a ton of debt, you can still keep your finances safe and avoid adding more debt by steering clear of the following credit card purchases.

1. Household Bills

As more and more American adults struggle to pay their household bills, they have no choice but to use their saving accounts. Cellphone, utility, as well as cable bills, shouldn’t be paid with a credit card.

How so? Because if you’re not used to paying off (or you just can’t) your full balance every single month, you will face an interest that will make your household bills even more expensive.

2. Cars

Most car dealers don’t agree with credit card purchases and that’s mainly because they will have to pay fees in order to process transactions. However, if you don’t have the possibility to pay for the car outright, you should definitely visit a credit union or your current bank to get approved for a car loan.

Thankfully, to get the best interest rate possible, you can compare the vast majority of auto loan rates online.

3. Retail Therapy

If you think that a new purchase will boost your mood levels, you’re wrong. You’ll probably be happier for, let’s say two hours after making the purchase, but you will most definitely regret it the next day when you’ll see that your credit card balance went nuts.

4. Medical Bills

Are you using a medical credit card in order to pay the bills? If that’s the case, make sure to check the fine print, especially your obligations regarding when and, more importantly, how interest is charged.

Also, if possible, try to reduce your health care costs as much as you can.

TO READ MORE:  https://legalguidancenow.com/1088/yahoo/1115955/20004/8-purchases-you-should-never-make-with-your-credit-card/

Childfree People Get The Wrong Financial Advice

Childfree People Get The Wrong Financial Advice — and they’ll be paying for it in their old age

Alessandra Malito  Sat, January 18, 2025  MarketWatch

People who don’t have children aren’t getting the best financial advice, one author says.

There are more than a dozen differences in financial and estate planning for people with children and those without — but the financial-planning industry doesn’t address them separately, according to Jay Zigmont, founder of Childfree Wealth, a life- and financial-planning firm dedicated to helping childfree individuals. Zigmont, who himself doesn’t have children, is also the author of a new book, “The Childfree Guide to Life and Money.”

“There are assumptions and things built into the system that means, ultimately, childfree people are getting bad advice, or at least advice in the wrong direction,” he said.

Part of the problem could lie in how advisers make money. Individuals who don’t have children might want to spend all of their money while they’re living, while those with children could have bigger goals of leaving behind an inheritance.

This clashes with one of the most common ways advisers make money in the financial-planning industry: the assets-under-management model. With AUM, an adviser’s compensation is a percentage of what the adviser is managing — so when the money in the account dwindles, so does the fee.

“How does that compare when someone is trying to die with zero?” Zigmont said. “There’s a conflict of interest.”

The right financial planner for a childfree individual or couple will acknowledge the nuances, Zigmont said. “Your planner needs to understand how things are different for you, and that’s a challenge to get good advice,” he said.

Beyond the importance of money management is estate planning, which needs to be tended to immediately for childfree folks.

Zigmont spoke with MarketWatch about some of the most important aspects of planning for the childfree life, and how it differs from financial planning for people with children. This interview was edited for clarity and length.

TO READ MORE:   https://finance.yahoo.com/news/childfree-people-wrong-financial-advice-105900984.html?.tsrc=fp_deeplink

15 Better Places Than Under the Mattress To Hide Money in Your House

15 Better Places Than Under the Mattress To Hide Money in Your House

By Laura Gesualdi-Gilmore

Consider storing cash in everyday items that make surprisingly good hiding spots.

You’ve probably seen it on TV and in movies 100 times before: a character trying to hide some cash throws it under a mattress.

But anyone breaking into your home looking for cash knows the mattress trick, making it a questionable place to hide money.

Of course, the best place for your money is in the bank — but if you’d like to keep some in your home, consider these less obvious, more secure hiding spots to reduce your money stress.

A permanent, hidden safe

A safe could be a worthy investment if you plan to keep a lot of cash and other valuables in the home, but the safe should either be permanently bolted in place somewhere hidden — or weigh several hundred pounds.

An obvious-looking portable safe is simply too easy for thieves to run off with and figure out later.

Behind a drawer

Storing cash inside a kitchen or bedroom drawer is not the safest move. Anyone who breaks into your home will probably quickly sift through these looking for valuables.

However, putting cash in an envelope and taping it to the back or underside of the drawer (not in the drawer) can be a sneakier, more secure option.

Behind wall art or decor

Cash can also be stored in an envelope taped behind generic-looking art or something like a wall clock. Just make sure that the art or decor itself doesn’t look like something worth stealing.

In the bookshelves

Some people store bills among the books in their bookshelves. However, if you want to avoid shaking out every book when you need to go retrieve the cash, consider investing in one of the fake book safes Amazon sells.

These appear to be normal books but open up to a locked box.

A box in a box

In most cases, anyone looking to rob your home is going to be moving quickly, so the more obstacles you can add to your cash hiding spots, the better.

Consider hiding cash in a box placed within a box of something that would look unappealing to crooks — like winter clothes or Christmas ornaments (really anything that doesn’t scream value).

Opaque food jars

Certain food jars placed in odd places may be obvious—as will the stereotypical cash-filled old coffee can. But if you have some opaque food jars and keep them in their expected homes in your pantry, they can be a great place to hide cash.

You can also purchase things like fake Coke cans online that can be used as small safes.

In pockets

Any hiding spot that would require a potential thief to sift through a lot of items adds a layer of safety. Cash folded up and placed in the pocket of a pair of slacks or a coat hung up among many in a closet is probably safe — as long as you can remember where it is.

TO READ MORE:  https://financebuzz.com/better-money-hiding-places-than-mattress

16 Worst Places To Hide Cash in Your Home

16 Worst Places To Hide Cash in Your Home

By Stacy Garrels

Are burglars already onto your not-so-secret spots?

While digital wallets and contactless payments are taking hold, we still like cold, hard cash. Plenty of us like keeping an emergency stash at home to be prepared for hard times.

However, burglars and sticky-fingered guests know that most people have a hidden wad of bills somewhere. Here are some of the more obvious hiding spots you should avoid to protect your financial fitness in your own home.

Dresser drawers

No matter how well-organized, top dresser drawers can often become a catch-all place for lots of small goods and knickknacks: underwear, hair ties, cufflinks, and rolls of cash. 

People like to sock money away there because it’s out of sight but still in an easy-to-remember location. It’s easy for crooks to remember, too.

Freezer or fridge

Opinions on fridges and freezers are mixed. While some home safety experts think they’re a smart option, many caution against it. Why? If you “think up” this tactic, it’s because you've seen it before in a movie or TV show — just like the bad guys.

Also, during economic downturns, thieves are known to steal food out of fridges and freezers. 

During the Great Recession, I know many people who had crooks break in during the daytime (sometimes while the homeowners were upstairs) and help themselves to milk and meats along with wallets and laptops.

Children’s bedrooms

Sadly, yes. Kids’ rooms are a target ‌for home burglars. The bad guys know kids often have tablets, game consoles, TVs, and iPads. They will rummage through your kids' room looking for cash in addition to pocketing any high-value goods.

Under the mattress or bed

It’s a cliche, but yes, people still tuck money away under their mattresses. Many naive homeowners think the bed is so obvious that no one hides their money there anymore, and that must make it a safe spot. It’s not; it’s one of the first places thieves look.

Toilet tanks

Using your toilet tank is about as cliche and obvious as your mattress. One TV show after another has crooks and good guys using the tank as a place to stash drugs, cash, and other valuables, and it’s one of the most common places thieves search.

TO READ MORE:  https://financebuzz.com/worst-places-hide-cash-at-home