Homeowners sitting on £1.6 bn

1st August, 2005

Homeowners are literally sitting on £1.65 billion that could be put towards other home-related expenditure such as house insurance.

Hidden around the average home in Britain is around £69.50 finds a new survey. Down the back of the sofa, in ashtrays, jars and piggybanks lurks all of that forgotten change, and instead of sitting on this cash, Brits could utilise it for home insurance payments.

Some homeowners have considerable amounts of change, sometimes adding up to hundreds of pounds, says the study by children’s charity Woolworths Kids First.

The store gave 250 volunteers a coin counting machine and asked them to search their homes, and the experiment found that women unearthed an average of £94 compared to men who averaged about £48, writes the Mirror.

Even those on lower incomes found about £14, said the Sun, suggesting that people in all income groups have this extra cash supply.

"It’s a shame so much cash goes to waste," said the charity's spokesperson. Consumers could consider using this money for home insurance premiums instead of keeping it hidden.

 

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