Finding Hidden Cash For Your Household or Business

Before you start lamenting your empty wallet, take a moment to consider this: you might be sitting on hidden cash without even realizing it. That’s right—your household or business could be a treasure trove of untapped resources just waiting to be discovered.

Check the Couch Cushions—Literally and Figuratively

Okay, maybe not the literal couch cushions (although that’s not a bad place to start), but think about all the forgotten places where money can hide. Ever open an old wallet and find a stray $20? That’s the vibe we’re going for, but on a bigger scale.

Start by revisiting old bank accounts, gift cards, or unused accounts with balances. You might have forgotten about a savings account you opened in college or a prepaid card tucked into a drawer. Pro tip: many states have unclaimed property websites where you can search for lost funds. Go ahead, Google “[your state] unclaimed property.” It’s like free money, minus the pirate ship.

Sell Assets Gathering Dust

If you’ve ever looked at your garage or storage closet and thought, Why do I still have this?, you’re not alone. From the treadmill-turned-clothes-rack to the vintage stereo that’s more “dusty” than “vintage,” these items could be turned into cold, hard cash.

For households, this might mean selling old furniture, electronics, or clothing. Platforms like eBay, Facebook Marketplace, and even neighborhood garage sales can help you declutter and make money at the same time. Businesses can take a similar approach. Do you have equipment, office furniture, or inventory that’s not pulling its weight? List it for sale and free up space—and cash.

Raid Your Home or Office for Loose Change

This one might sound basic, but you’d be surprised how often we overlook loose change and small bills scattered around. Check coat pockets, old handbags, desk drawers, or that “junk” drawer everyone has.

For businesses, this could mean auditing petty cash or tracking down uncashed checks. It’s all about finding those little bits of money that add up.

Tap Into Home Equity

For homeowners, one of the biggest untapped resources could be the equity in your home. If you’ve been paying your mortgage faithfully, you’ve likely built up some equity that can be accessed through a home equity loan or line of credit.

Use this resource wisely, though. While it’s a great way to fund necessary repairs or investments, it’s not an excuse to splurge. Remember, this is borrowed money that has to be paid back or you could lose your home.

Dig Into Forgotten Investments

Ever buy stocks, bonds, or a mutual fund and then forget about them? It’s time to dig up those dusty investment accounts. Check old statements, or log into any financial platforms you’ve used in the past. That forgotten stock purchase you made in 2010? It might have grown into something worth cashing out.

If you’re not sure where to start, a CPA can help track down your investment history and identify accounts that might be sitting idle.

Revisit Tax Refunds and Credits

Who doesn’t love finding extra money during tax season? If you’ve ever missed filing a return or overlooked a credit, you could be leaving cash on the table. Businesses can also benefit from revisiting old tax returns to claim overlooked deductions or credits.

For households, credits like the Earned Income Tax Credit (EITC) could mean money in your pocket. For businesses, it might be worth exploring options like the Employee Retention Credit or other pandemic-related programs that you might still qualify for retroactively.

Rethink Subscriptions and Expenses

Subscription services are sneaky little drains on your budget. Whether it’s a magazine you don’t read, a streaming service you don’t use, or software your business no longer needs, those recurring charges add up. Canceling unused subscriptions won’t exactly “find” you cash, but it will stop money from leaking out of your accounts every month.

Pro tip: go through your bank statements line by line and highlight anything you don’t recognize. It’s amazing how quickly small changes can add up to big savings.

Cash In On Loyalty Programs and Rewards

Ever sign up for a credit card rewards program, only to forget it exists? Now’s the time to cash in those points. Whether it’s airline miles, hotel stays, or cashback rewards, these perks can often be turned into real value for your household or business.

Businesses can also look into loyalty rewards from suppliers or vendors. If you’ve been racking up points or discounts, put them to good use.

Look for Hidden Value in Your Skills

Sometimes the hidden cash isn’t in your wallet—it’s in your abilities. Do you have a skill you could monetize? Maybe you’re great at baking, graphic design, or fixing computers. Turning a hobby into a side hustle could help generate extra income.

For businesses, this could mean offering a new service or diversifying your offerings. Think about ways to leverage your existing resources for maximum value.

Beware of Hidden Costs

While finding hidden cash is great, don’t let the excitement blind you to potential downsides. Selling old assets or accessing equity can have tax implications or other costs, so be sure to do your homework. It’s like finding a golden egg but realizing you’ll have to pay for the chicken.

Don’t Forget the Emotional Boost

Finding hidden cash isn’t just good for your finances—it feels fantastic. There’s something empowering about uncovering resources you didn’t realize you had, whether it’s an extra $50 in your coat pocket or a few thousand dollars from selling unused assets.

For businesses, the boost can be even bigger. Freeing up cash allows you to invest in growth, reduce debt, or simply breathe a little easier knowing you’ve got a cushion.

Hidden cash is everywhere—you just have to know where to look. Whether you’re cleaning out your attic or rethinking your business operations, there are countless ways to uncover money that’s already yours. So grab a cup of coffee, put on your metaphorical treasure-hunting hat, and start digging. Who knows? You might just strike gold.

by Kate Supino