More than three-quarters (77%) of UK adults "proactively" stash cash at home, while one in 10 really do hide cash under the mattress, according to a study by pension advice specialist Portafina.
The study found the average sum kept at home was £110, but about a fifth hid more than £200. The findings came as it emerged Skipton Building Society was preparing to launch the first cash lifetime ISA (LISA) on 8 June. The cash LISA will offer an interest rate of 0.5% and investors will be able to open it with as little as £1. The LISA, which launched in April 2017, offers savers a 25% top-up on annual investments of up to £4,000. The government launched the wrapper to incentivise savings for first-time home buyers, as well as retirement. Emotional about cash Portafina polled...
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