I heard on the radio today that a survey revealed that the average household
has £297 in cash in the home.
I realise that an average doesn't tell the full story as some may have 5p
and another £10,000. Nevertheless as someone who can't recall having more
than £50 in the house I was a bit surprised.
I think that would be about right. Take an average household, 2 adults, 2
kids. Kids may have money boxes, and if teenagers may have rather more.
Then a lot of people have a jar to put change in...that can accumulate
quite a lot. Then you start on wallets, etc.
If one includes parking money in the car, that's a bit more.
Use the BIG mirror service in the UK:
When this was being discussed on the radio, they said it excluded cash
in wallets. It was a survey by the FSCS to discover, among other things,
why people were not putting money into banks.
Over one third of people questioned said they had less than Â£20, while
4% said they had more than Â£1,000 and 1% said they had more than Â£10,000
If we exclude cash in wallets, the only cash I keep is any Euro left
over from my last trip.
With the shift in currency rates, we've done rather well out of that
since our last holiday. We came home a few days early 'cos the weather
was foul and stuff the remaining dosh in the safe, where it has
appreciated rather faster than savings would have done.
I've still got a few thousand Euro in a French bank account that I
opened when the rate was about EUR 1.6 to the pound. When possible, I
use that bank's debit card to pay for things in Europe, although it does
not work everywhere.
I rarely have any cash at home, come to that, I rarely carry much cash on my
person , relying on plastic all the time, to such a
degree that when staying at a hotel on
business I often have to stop off at an ATM so I can tip the waitress.
I usually get £50 cash for small purchases and anything else is on the magic
A shade off topic but I was in the town centre today and there was a guy on
mobile doing the shouting down the phone thing. He said "I only have 70,500
euros on me" I did consider waiting to see if he got mugged but it was
It struck me from the radio story that (assuming the £7b national figure or
whatever was correct) that the distribution might be highly skewed by those
holding many £k in order to conceal it from the taxman. How big is our black
economy these days?
In the '60's my parents' neighbour sold a small bungalow in Ewell with an
acre of land to a gippo family for £25k in a suitcase. A decade or so later
the new residents moved to somewhere in the Henley area with a very
significant river frontage. The patriarch was (apparently) illiterate and
signed documents with an X. My mum had a lovely story of being asked by the
wife for the "polite" words for various female bits when the lady needed to
go to the doctor with a "woman's problem".
Seems a lot to me: I rarely get more that 20 from a cash machine/cashback
at any time.
On the other hand I do tend to carry more when travelling and have 70 euro
and 30 CHF in my wallet left from my last trip abroad.
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