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.
Varies - but anything significant is always in the safe.=20
--=20 Skipweasel - never knowingly understood.
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.
My change jar often exceeds that, I empty all coins from my pockets each night, and rarely take back anything other that the odd £1 or £2 coin.
has £297 in cash in the home.
another £10,000. Nevertheless as someone who can't
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.
Blimey - I am odd. Perhaps I need a sign on my door to deter burglars "Not much cash here - don't bother"
Ours says "May contain nuts".
F*** cash in the house. If you have got more than £300 on your person and you are searched by the police then you have to prove where the money has come from.
much cash here - don't bother"
Yeh right, like that's going to work ;-)
much cash here - don't bother"
I usually get £50 cash for small purchases and anything else is on the magic plastic.
A shade off topic but I was in the town centre today and there was a guy on his 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 raining.
has £297 in cash in the home.
another £10,000. Nevertheless as someone who can't
From what I have been hearing about money laundering on the news this last
48 hours if any violence did ensue, that guy is more likely to be the perpetrator than the victim.
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.
£20 is hardly worth a trip to the cash machine. A couple of small purchases and it's mostly gone.
I usually get £100-£200 from an ATM (and a bit more from a bank) and that would soon disappear if I didn't use cards for payments over £20 or so.
(I like getting five-pound notes too (which are only possible from a bank), which are convenient because it means change is always coins and never more notes. (And it's more reasonable to proffer a £5 note for a small purchase than a £20 one.) But they're bulky so I keep those down to about £100.)
What's the problem with getting £40 or £60, or even £100, out of the machine instead of £20? Presumably the withdrawal is free otherwise you're looking at a 5%-10% fee for taking out only £20.
And your source is?
Chris
Fallacious.
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 £20, while
4% said they had more than £1,000 and 1% said they had more than £10,000 in cash.If we exclude cash in wallets, the only cash I keep is any Euro left over from my last trip.
Colin Bignell
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.
Colin Bignell
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