Where to store cash, the most profitable and convenient options
The situation in the world is rapidly changing and the question of where to store cash arises with renewed vigor for those people who have this money.
Moreover, we are talking specifically about cash, since in this case everything is much more complicated than if you kept money in your bank account.
The reasons why people choose cash vary from person to person, but let’s talk about what is the best way to store cash today to avoid possible problems in the future.
First of all, you should pay attention to the availability of options, that is, what currency can be bought and sold today, since this is the main indicator of liquidity .
The most liquid currencies in 2024-2025
If we talk about Ukraine, today the most liquid currencies are the US dollar, euro, Polish zloty and British pound.
In other countries, the leadership also remains with the euro and dollar, but the next most popular currencies may change depending on the country.
Therefore, it seems that the choice here is obvious, buy euros and dollars and put them at home under your pillow for a rainy day, but everything is not quite so if you want to save money for a long time.
Exchange of old banknotes
Following the Swiss franc, other countries are beginning to think about exchanging old banknotes for new ones, while removing previously issued banknotes from circulation. This approach is very beneficial to the economies of these countries, since the amount of money supply in circulation is reduced, because not everyone manages to make an exchange on time.
It would seem that there is nothing wrong with this, you just need to go and exchange the dollars or euros withdrawn from circulation for new ones and hide them again under the pillow. But if you miss the established exchange deadline, you will have to pay a huge commission to the bank in order for it to accept old banknotes, in some cases such a commission can exceed 20% or you have to go to the country of the currency issuer.
Where should you store cash today?
The most convenient option is the same US dollars and euros, but you just need to exchange old banknotes in advance for banknotes of the latest issue.
For 2024, these will be 2017 US dollars
And the euro is the currency of 2019
By storing the latest banknotes, you will eliminate the need for exchange for the next 5 years.
The best option for storing money for the long term
If we talk about my personal preferences and the buy and forget option, then I would still choose small denomination gold bars.
Such savings can be kept for at least 100 years without worrying that they will depreciate or go out of circulation. This is more of an investment than simple storage of funds, since gold is constantly rising in price.
The most liquid will be gold bars weighing 10-20 grams; both pawnshops and banks take them quite willingly.
And the cost of a 10 gram bar today is not so high and is around 900 US dollars. An alternative option would be to buy gold online on an exchange .