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MailTribune.com
  • A Penny Earned:

  • As the economy crumbles and fiscal safety nets disappear, cash stashing is crossing generational and psychological divides, the behavioral pattern expanding beyond what had long been the domain of seniors and paranoiacs.
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  • As the economy crumbles and fiscal safety nets disappear, cash stashing is crossing generational and psychological divides, the behavioral pattern expanding beyond what had long been the domain of seniors and paranoiacs.
    Until recently, the typical cash stasher had been an "older person who lived through the Depression or children of parents who lived through the Depression," said Lynnette Khalfani-Cox, an author and financial adviser who runs TheMoneyCoach.net.
    But an increasing number of stashers are members of generations X and Y "who've experienced downsizing among their peer group or among their parents," she said.
    "So many people are saying, 'If I'm not looking out for myself, who's going to?' Financial realities have come crashing down on people and created a much larger pool of stashers in this country than we've ever experienced in recent years."
    Mattresses are so obvious. If you really want to keep cash in the house, stash it in a child's toy or a cereal box or a curtain rod. Don't hide it anywhere you've seen in a movie. And don't put it in a sock.
    Online retailer Keeping Women Safe has seen a 15 percent jump in sales of its "diversion safes" — money hideaways that are disguised to look like everyday household products, such as carpet cleanser, deodorant sticks and cans of potato chips.
    Paint buckets and soda cans are the site's best-selling diversion safes, said owner Ted Kollins.
    Just be sure to remember where you hid the money. In October, a woman nearly lost $10,000 when she accidentally returned a box of crackers — with an envelope stuffed full of $100 bills.
    — Los Angeles Times
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