Prudential finds Brits putting potential savings in the bin

30 November 2004
5.3 million people throw money in the bin, rather than saving, the Prudential has found.

The firm points out that 14 per cent of people put spare coins, especially coppers, in the bin rather than saving them.

"You are unlikely to chuck away a £50 pound note but that's what some people are effectively doing," explained Prudential.

"It's amazing to think of the money we're just throwing away or letting lie idle,” noted Hugh McKee, director of savings & investments at the Prudential.

“Whilst the individual sums may be small, they can still be put to good use.

“As a nation, we're too apathetic about money. It's the same attitude that leaves us with £107 million sitting, doing nothing, in deposit accounts. If we thought more carefully about where our money is, we could try to make it work harder for us."

Prudential found that 25 per cent of consumers want to scrap 1p and 2p coins - rounding everything to the nearest 5p - rather than have the hassle of saving them.

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