More savers keep their spare cash in a bottle or jar rather than a stocks and shares ISA or a pension, according to new research.
And one in four people cannot afford to save anything.
The top place for Brits to keep their money is in the bank or building society (40%), despite the poor returns of ultra-low interest rates.
Next comes a cash ISA (38%), says financial web site GoCompare.
Then come premium bonds and national savings accounts (15%).
Men take more risks
But before slightly more risky investments in stocks and shares either directly or with ISAs or pensions comes the trusty coin jar crammed with small change (10%).
While banks and building societies pay a return that is around zero when inflation is considered, savers spurn the healthy returns from stock markets that have steadily increased over recent months.
Only one in 10 feels confident enough to invest in stock markets – the same number who keep money at home.
The research also reveals men are more likely to invest in equities, while twice as many men (14%) are likely than women (7%) to buy stocks and shares.
And 13% of men compared to 5% of women plan to invest in an equity ISA this year.
Analyst Matt Sanders, of GoCompare, said: “Many people have seen their income squeezed by higher inflation and lower pay rises. The increased cost of daily essentials has undoubtedly put pressure on household budgets, leaving many feeling financially stretched and unable to put any money aside in 2018.
“Our survey revealed that many households are expecting a financially bleak year with 40% of adults anticipating that 2018 will be a very difficult year for them.
“However, we would urge that, wherever possible, people put money aside for an emergency fund to cover unexpected expenses such as repairs to a car, boiler or other household costs. Ideally, households should aim to have at least three months’ living expenses set aside in a cash savings account as an emergency fund.
“Even if you can only manage to put a few pounds each week into an emergency fund, small amounts soon add-up and could be a financial lifesaver when things unexpectedly go wrong.”