When it comes to making the most of loose change Brits are not looking after the pennies, as two thirds of Brits (65 per cent) regularly find loose change in a variety of places which could be put to better use, reveals New research from Halifax.
With the average Brit thinking they have £1.61 in loose change down the back of the sofa, the nation could literally be sitting on £42.9million, says Halifax.
Unsurprisingly, pockets top the loose change league table with two fifths (39 per cent) of Brits regularly finding loose change in them. This is closely followed by loose change lurking at the bottom of a bag (36 per cent), in the car (27 per cent) and down the back of the sofa (23 per cent).
The research revealed that the highest value of loose change is likely to be found in a desk drawer (£3.59), closely followed by pockets (£3.38) and in the car (£2.44).
Brits also estimate they have an average total of £17.69 floating around in these places. This amount falls to £15.43 for women but rises to £21.03 for men.
When it comes to picking up money in the street, the average minimum amount Brits would pick up is 50p. However, this rises to 61p for men, where as women will stop to pick up an average of 47p.
Younger generations will only stoop for higher amounts compared to older generations. For example, those aged 25-34 years would bend down for a minimum of 87p compared to those over 65 years who would stop to pick up an average minimum of 24p.
Out in the regions, stooping snobbery comes in to play with residents in Yorkshire and the Humber bending for an average minimum of 94p compared to their neighbours in the North East, who will pick up a minimum average of 24p.
However, 66 per cent of Brits said if they saw a penny lying in the street, they would pick it up for good luck. This rises to three quarters of women (73 per cent) but falls to three fifths of men (58 per cent).
Residents in Wales are most likely to pick up a penny (78 per cent) with those in London most likely to leave it lying in the street (53 per cent).
Halifax says it still appears that Brits like to save their coins, with three quarters (74 per cent) keeping their loose change in a set place, such as a jar. For half (47 per cent) of hoarders, the coins are mainly coppers, with a fifth (17 per cent) storing mainly silver coins and just five per cent reserving it for £1 or £2 coins. A third (30 per cent) said they save coins of any denomination.
"These figures prove that we should no longer ignore our loose change but manage these small sums more wisely,” said Flavia Palacios Umana, Head of Products, Halifax Savings.
“The old saying 'take care of the pennies and the pounds will take care of themselves' continues to be firmly the case. We need to recognise this, instead of leaving our loose change languishing down the back of the sofa."
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