The MoneySavingExpert website is a great place for advice on all things money related and one tip stood out on last week’s MoneySaving email.
Don't keep money under your mattress!
Although most people do keep their savings in banks these days, there are still some people that keep their money in their house and one common hiding place is under the mattress. Did you know though that any money stored under your foam mattress is only covered for £750?
One user of the site got in touch to tell them that when their Grandad passed away, they found an unbelievable £22,000 in his flat! Although none was found under the mattress, there was £3,000 in various jacket pockets and drawers and £19,000 in a suitcase.
Not only is having this amount of money in your house a risk if you get broken into, you are also missing out on interest and any money stashed under a mattress is actually an accelerant if there was a house fire.
So remember folks don’t keep your savings under the mattress!
