Hidden Wealth Strategy: 6 Smart Ways to Find Unclaimed Money (With an Average Claim of $1,609, It’s Worth Checking)

When most people think about improving their finances, they focus on two levers: earn more and spend less. Those are powerful tools—but they’re not the only ones.

There’s a third, often overlooked lever: finding money you already own.

Every year, billions of dollars sit unclaimed in government agencies, financial institutions, corporate accounts, payment apps, forgotten retirement plans, and even inside digital wallets. According to the National Association of Unclaimed Property Administrators (NAUPA), roughly 1 in 7 Americans has unclaimed money or property owed to them. Between summer 2023 and summer 2024 alone, states returned nearly $4.5 billion to rightful owners.

The average claim? $1,609.
The median claim? $100.

Even if you only recover a few hundred dollars, that’s capital you can use to build emergency savings, invest, pay down debt, or offset inflation.

As a financial advisor, I encourage clients to treat this as a financial scavenger hunt—because it often pays.

Here are 6 practical ways to uncover unclaimed money and put it back to work for you.

1. Search for Unclaimed Property Through State and Federal Databases

This is the most powerful and most overlooked strategy.

Unclaimed property typically comes from:

• Forgotten bank accounts
• Dormant retirement accounts
• Uncashed paychecks
• Insurance payments
• Refunds
• Security deposits
• Certificates of deposit (CDs)
• Contents of abandoned safe deposit boxes

When companies lose contact with you (for example, due to an address change), funds may eventually be turned over to the state’s unclaimed property division.

Where to Search

Start with:

• MissingMoney.com – allows multi-state searches
• Unclaimed.org – directs you to official state databases

You should also check any state where:

• You previously lived
• You attended college
• You worked
• A deceased relative resided

Don’t Forget Federal Agencies

In addition to state databases, certain federal agencies may hold money that belongs to you:

• The Department of Labor for unpaid wages
• The U.S. Treasury for abandoned savings bonds
• The IRS for uncashed tax refund checks

A critical IRS rule to remember:
If you failed to file a tax return that would have generated a refund, you generally have three years from the original filing deadline to claim it. After that, it’s forfeited.

However, if you filed and your refund check was mailed but never cashed (for example, due to a move), your right to the funds generally does not expire.

Given the average claim is $1,609, this is not a trivial exercise.

2. Unlock Value from Unused Gift Cards

Most people have at least one unused gift card sitting in a wallet drawer or email inbox.

While it may not feel like “real money,” unused gift cards represent prepaid purchasing power. If you use them strategically, they effectively free up cash in your budget.

Here’s how to maximize them:

• Use them for items you were already planning to buy
• Resell them through reputable online marketplaces
• Trade them for cards from retailers you actually use
• Donate them and potentially claim a tax deduction
• Deposit the proceeds into an investment account

For example, if you have $200 in unused gift cards and you use them for groceries you were going to buy anyway, that’s $200 freed up for savings or investing.

Small adjustments compound over time.

3. Check Your Payment Apps for Forgotten Balances

In today’s digital economy, many people use multiple payment apps for transfers, freelance work, reimbursements, or splitting bills.

It’s surprisingly common to leave small balances sitting in:

• Peer-to-peer payment platforms
• Digital wallets
• Marketplace seller accounts

Two important reasons to sweep these balances into your checking or savings account:

1. Idle money isn’t earning interest.
2. Most payment apps do not offer FDIC insurance protections like traditional banks (which insure deposits up to $250,000).

Even if you only recover $75 here and $120 there, it’s still money that belongs in your broader financial plan.

From a portfolio perspective, liquidity should sit in secure, insured accounts—preferably high-yield savings or money market funds that generate passive income.

4. Earn and Redeem Credit Card Rewards Strategically

Credit card rewards can quietly accumulate into meaningful dollars—if used correctly.

Depending on your card, you may earn:

• 1% cash back on everyday purchases
• 3% or more on rotating quarterly categories (groceries, gas, travel, etc.)

If you strategically time purchases during bonus category months, you accelerate rewards accumulation without increasing spending.

The key mistake many people make?
They accumulate rewards and never redeem them.

Rewards can typically be redeemed as:

• Statement credits
• Gift cards
• Direct deposits
• Transfers into linked brokerage accounts

From a wealth-building perspective, I often recommend redeeming rewards directly into an investment account. Even modest rewards—say $800 per year—invested consistently over 20 years can compound significantly.

The strategy isn’t about spending more. It’s about optimizing spending you’re already doing.

5. Maximize Employer Benefits and Workplace Perks

This is one of the most underutilized sources of “found money.”

Employer-sponsored benefits can be worth thousands per year—but only if you take advantage of them.

Common Missed Opportunities:

• 401(k) employer matching contributions
• Health Savings Account (HSA) matching
• Emergency savings account contributions
• Tuition reimbursement
• Student loan repayment assistance
• Wellness reimbursements
• Phone or technology stipends
• Fertility and adoption support
• Pre-tax commuter benefits

If your employer matches 401(k) contributions up to 4%, and you’re not contributing enough to capture the full match, you’re effectively leaving free money on the table.

That’s not just lost cash—it’s lost compounding potential.

Additionally, certain employer reimbursements may require documentation before deadlines. Missing those submission windows can mean forfeiting benefits entirely.

Always review your benefits guide annually. Circumstances and offerings change.

Note: Some perks may be considered taxable income. Always verify reporting requirements.

6. Activate Passive Income Streams

Another overlooked category of found money is passive income.

Passive income includes:

• Interest from high-yield savings accounts
• Money market fund earnings
• Royalties from creative work
• Advertising revenue from blogs or YouTube
• E-book sales
• Stock photography licensing
• Affiliate commissions

If you have side projects or digital assets, check your dashboards. Many platforms accumulate earnings until you manually request payout.

Those balances often go unnoticed.

Even better—redirect that passive income toward investments instead of consumption.

A high-yield savings account or money market fund can provide steady, low-risk interest. In higher-rate environments, this can generate meaningful returns on idle cash.

Keep in mind that passive income is typically taxable. Expect a 1099 during tax season.

Why This Matters: The Compounding Effect

Let’s assume you recover:

• $1,609 from unclaimed property
• $300 from gift cards
• $250 from digital wallets
• $800 in annual credit card rewards
• $2,000 in employer match you weren’t fully capturing

That’s potentially over $4,000 in year one alone.

If invested at a 7% annual return over 20 years, $4,000 grows to more than $15,000.

And that’s from money you didn’t even realize you had.

Final Thoughts: Conduct an Annual “Financial Sweep”

As a financial advisor, I encourage clients to conduct a yearly “financial sweep”:

1. Search unclaimed property databases
2. Audit digital wallets and payment apps
3. Review employer benefits
4. Redeem accumulated rewards
5. Check passive income accounts
6. Evaluate idle cash placement

Generating more income and cutting expenses will always be foundational strategies.

But sometimes wealth isn’t about earning more—it’s about reclaiming what’s already yours.

With an average claim value of $1,609, it’s more than worth the time to check.

Hidden money isn’t rare.
It’s just overlooked.

And when you find it, treat it like any other asset: allocate it strategically, invest it wisely, and let it compound toward your long-term goals.