It's a good idea to have a small amount of cash at home in case of emergency. However, most of your savings are better off in a savings account because of the deposit protections and interest-earning opportunities offered by financial institutions. A good rule of thumb is to keep as little as you deem necessary; although it may seem strange, cash loses value over time. A secure financial institution is the only way to ensure the safety of your money, Dailly said.
Millions of people keep cash at home instead of a savings account. For most, it's a normal part of their financial lifestyle.