Can we use double to store monetary fields and use BigDecimal for arithmetic

I know the problem with double/float, and it's recommended to use BigDecimal instead of double/float to represent monetary fields. But double/float is more effective and space-saving. Then my question is: It's acceptable to use double/float to represent monetary fields in Java class, but use BigDecimal to take care of the arithmetic (i.e. convert double/float to BigDecimal before any arithmetic) and equal-checking? The reason is to save some space. And I really see lots of projects are using double/float to represent the monetary fields. Is there any pitfall for this? Thanks in advance.
Don't store monetary values in floats/doubles unless you like to have money disappear.

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