Is your sofa hiding a goldmine?

The average Briton has £500 of loose change lying around the house, a study by supermarket chain ASDA has revealed.

The figures suggest that the pennies and pounds down the back of the sofa, in the kitchen drawer, and the floor of your car, really add up.

But some financial commentators are sceptical of the new findings. Consumer affairs journalist Felicity Hannah says; “I don’t honestly think that anyone has £500 in loose change lying around their home.”

“However, while ASDA may have got slightly carried away with their analysis, they do raise an important point,” she says. “Pennies add up to pounds, and if you’re living on a tight budget then it makes real sense to keep them somewhere safe and pay them into your bank account.”

The study also exposed that four percent of us throw this loose change away, which Felicity suggests is because we don’t see loose change as real money. “We very rarely use them in shops and a lot of people just chuck them out with their receipts when they empty their wallets,” she says.

So are we all sitting on goldmines? I think not. But this doesn’t mean we should throw out our loose change. Keep a penny jar and throw in your coppers rather than chucking them out, you never know how much you might save!

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