I heard on the radio today that a survey revealed that the average household
has Ł297 in cash in the home.
I realise that an average doesn't tell the full story as some may have 5p
and another Ł10,000. Nevertheless as someone who can't recall having more
than Ł50 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 ÂŁ20, while
4% said they had more than ÂŁ1,000 and 1% said they had more than ÂŁ10,000
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 Ł50 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 Ł7b national figure or
whatever was correct) that the distribution might be highly skewed by those
holding many Łk 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 Ł25k 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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