Hidden Stashes of Money That You’re Forgetting About February 1, 2017My MoneyOff

No, this article isn’t here to remind you about a treasure chest of gold that you hid on a beach when you were a toddler (although that would be great!). This is an article to remind you that when you’re in a sticky situation with money, there are a bunch of places to get money that you could be forgetting about. So without further ado, let’s explore some of these hidden stockpiles of money that you could be sitting on.

Your Savings Account
Most people start up and forget about their savings account for a couple of reasons. First, it’s savings and you don’t want to actually touch them unless you’re in an emergency. Secondly, because you might have completely forgotten about it because you don’t make regular payments. And lastly, because you might have just forgot about the account because you stopped using it once you grew into an adult. It might seem silly, but many people around the world forget about things like savings accounts and money banks because they only want to resort to them in a real emergency. Sadly, when an emergency strikes, they’ve completely forgotten about it because they trained themselves to not snatch money out of it.

Injury Claims and Compensation
Have you been in an accident recently? It sounds like the opening line to an advertisement or a cold caller, but it’s something that you should definitely consider. A personal injury law claim could net you a lot of money if it was a serious accident. You have three years to make a claim from when the incident occurred, so even if you make the claim about something that happened two years ago it’s still valid and you can still receive a lump sum if your claim is successful.

Collectibles
Did you use to have a collection of Pokemon cards or some other toys? If they’re in pristine condition then chances are you’re sitting on a goldmine of money. Many old toys, as long as they’re kept well, can go for up to ten times their original selling price. This means you could strike two birds with one stone. You can clear out useless clutter you don’t want anymore and make some money while you’re at it. You’ll need to find specialized communities to sell these items, however. A bit of research goes a long way!

Money You’re Owed
No one likes to be that person that goes around collecting money from friends and family members that borrowed from you, but you should always make sure people pay back the money you lend to them. However, there are times when this doesn’t count for actual people but companies and businesses. For example, if you run a business at home or you’re self-employed, you can mark a lot of your purchases and expenses as business expenses if they are being used for work. You can even write off a portion of your home bills as business expenses, but you’ll need to contact experts to determine how much you could claim back.

Photo by Docent | Shutterstock

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