If you’ve got a stack of cash tucked behind your dresser or in a cereal box labeled “emergency fund,” you’re not alone.
According to a recent Piere survey, the average American has $544 in valuables hidden at home.
But here’s the problem with hiding cash at home: Inflation doesn’t care where you hide money. Every year your hidden dollars lose purchasing power — without you even noticing.
Here are three better homes for your short-term cash.
Our Picks for the Best High-Yield Savings Accounts of 2025
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American Express® High Yield Savings Account Member FDIC. APY 3.70%
Rate info
Member FDIC.
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3.70%
Rate info |
$0 |
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CIT Platinum Savings Member FDIC. APY 4.10% APY for balances of $5,000 or more
Rate info Min. to earn $100 to open account, $5,000+ for max APY
Member FDIC.
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4.10% APY for balances of $5,000 or more
Rate info |
$100 to open account, $5,000+ for max APY |
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Barclays Tiered Savings Member FDIC. APY 4.10%
Rate info
Member FDIC.
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4.10%
Rate info |
$0 |
1. Put it in a high-yield savings account
This one’s first for a reason.
High-yield savings accounts (HYSAs) are easy to open, federally insured, and earn 4.00% APY or more at many online banks right now.
That’s miles better than the 0% your cash earns sitting in a sock drawer or under the mattress.
To put this in dollars, let’s say you have a secret $2,000 cash stash at home right now. If you kept it in an online savings account with a 4.00% APY instead (it can still be secret!) you’d earn about $7 per month in interest.
Think of an online HYSA like a digital sock drawer — except this one grows more dollars every month and year.
2. Short-term certificates of deposit (CD)
If you like the idea of your cash quietly earning a little extra on the side, a short-term CD could be a smart move.
Many banks are offering 3- to 12-month CDs with rates around 4.00% APY. It’s a simple way to guarantee a return on your cash without taking any risk, as long as you’re cool with leaving it untouched until the term ends.
3. Try a money market account
A money market account is kind of a blend between a savings and checking account. You get good interest rates (around 3% to 4% right now), but still have easy access to your money.
Some money market accounts even come with check-writing privileges or a debit card. It’s a solid option to store and grow cash without locking it away.
Stop hiding cash at home
I know, I know, having a secret stack of cash in a place that only you know feels cool. But, that $500 hidden in a shoebox could be earning you $20 to $25 per year, completely passively, with no extra risk.
Small money moves like this add up. You can still keep your money a secret — just store it digitally, where it grows more.