We have come at an age where a majority our population has one thing on their mind: making money, and the easier, the better. Makes sense because who relishes the thought of their efforts going to waste? Finding lost money is one of the fastest ways of getting extra cash in our pockets (aside from winning the lottery). Sadly, loose dollar bills and coins on the street or on the floor of a taxi-cab isn’t an everyday occurrence. So we earn extra cash through the normal channels like working overtime or taking-on double jobs.
Believe it or not, there actually is a way to find lost money without stalking the parks or beaches with a metal-detector. I’m talking about lost money assets in the individual State Treasuries across the U.S.- over $30 BILLION worth of it.
Escheat laws require banks, businesses and financial establishments to turn-over financial assets whose owners can’t be located after being dormant for a number of years. Money from abandoned bank accounts, unused gift cards, that lost money order you somehow misplaced- these somehow find their way to the State Treasury.
The State Controllers put lost money in an unclaimed money fund which is utilized by the government until their owners step-forward and file a claim. Only a small portion of the population knows about the presence of unclaimed property, so relatively few people try to claim lost money.
It’s basically the same in all the states- the unclaimed money piles get bigger each year due to lack of awareness. Citizens’ lost money in Indiana for example currently amounts to $320 million and the California lost money owed to residents is at a whopping $6 billion!