Britons stash £3.5 billion at home
It has been revealed that people in Britain keep a combined total of £3.5 billion in cash at home.
Research from Virgin Money shows that the people in the UK have stashed away the equivalent of 1,000 police officers' salaries or five Wembley stadiums.
However, if Britons were to keep the amount in banks, they would make around £174 million in interest each year - enough to keep 5,400 nurses in full-time employment.
"Keeping cash at home is not wise: the British are throwing away the opportunity to easily earn several hundreds of millions of pounds of interest over a few years," said Dr Alexander Koch, who carried out the research at Royal Holloway University.
Despite the large amount being kept at home by people in Britain, they are still more in debt than ever.
Money charity Credit Action has estimated the total amount of personal debt in the UK to stand at £1.3 trillion.
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