Asset Freeze: Hiding Money Around the House

While you might normally think of people keeping emergency cash under the mattress, that’s not the most popular spot, according to a survey by the Marist Institute for Public Opinion.

More than a quarter (27%) of Americans report hiding money in the freezer; 19% keep the money in a sock; 11% under the mattress; and 10% in a cookie jar.

Only 9% named another place to hide money, with 7% unsure which is the best. Only 17% said that there was no good place to hide money in their homes.

The preference for the freezer prevails no matter how the data is broken down: by region, income, education, age, race or gender.

College graduates are least likely to hide money under their mattresses (9%) and the group most likely to hide their money in the freezer (29%). However Americans 45 and older (21%) are more than two times as likely than those under the age of 45 (10%) to report there is no good place to hide money in the home.

Race also has little to do with the preference for the freezer as 27% of both whites and non-whites reported hiding their money in the freezer. Meanwhile the group mostly likely to put its money on ice is those ages of 30 and 44.

There’s little difference based on gender. Women prefer the freezer — 28% to men’s 25% — while men still prefer the mattress — 14% to women’s 9%.

Now that Tax Day is upon us, what are you going to do with the approximately $3,000 tax refund? Will you spend it immediately? Or will you hide it somewhere around your house?