Bedding is 'safe cash haven for over 3m people'
Published: 12 August 2009
Over three million people in the UK are using bedding for financial safety, with one poll finding that mattresses and bed linen around the country are concealing cash.
Desperate economic times are resulting in desperate bedding measures for a number of people in the UK.That's because More Than found that confidence issues due to the recession have resulted in eight per cent of respondents - 3.2 million British citizens - admitting to stashing their cash somewhere in their bed.
Low interest rates and the reputation of banks are causing many of those interviewed to think about their bedding as the perfect safety net for their money, according to Pete Markey, the spokesperson for the organisation.
"Keeping cash under the bed might make savers feel better in the short-term but risks leaving them high and dry should the unthinkable happen," he said.
"Whilst we can understand why people might want to stay cautious, there's no better place for savings than the bank, particularly for large sums."
A Swinton survey revealed earlier this month that emergency money is being kept safe in the UK, with the poll of 1,200 people discovering that 43 per cent of people have up to £100 in cash in their house should it be needed.
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