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Dead Money

Nutmeg

Details

Client: Nutmeg
Date: 16th March 2017

Project overview

British adults have £721BILLION of ‘dead money’ sitting in bank accounts and ISAs, according to new research.

The average person aged 18 and over has saved £14,049.30 – but has no plans on what to do with it.

In addition, a third have up to £250 in cash hidden at home, while one in 10 has over £1,000 tucked away.

And one in five has a personal pension containing more than £20,000 – which they no longer pay into.

Lisa Caplan, head of financial advice for Nutmeg, which conducted the study, said: “As this survey shows, people are literally sitting on their money, with no real plans on how to spend it, save it, or invest it.

“While saving money is obviously a sensible thing to do, there are ways of being even cleverer with cash.

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Coverage

Daily Mirror in print
Metro in print
The Sun in print
The Herald in print

Mirror
Yahoo – UK Finance
The Sun
The Scottish Sun
Professionaladviser.com
The London Economic
Scottish Financial
and many more!