Mansfield residents are feeling financially better off than 12 months ago, says study

Mansfield is one of the top ten areas of the country where residents feel financially better off than they did twelve months ago, a study analysed by The Nottingham has found.

Whilst London came out top of the pile in the study of nearly 175,000 residents, Mansfield, was the only East Midlands location to make the top ten, with 66 percent of people happier

Julie Walker, assistant branch manager of The Nottinghams branch on Stockwell Gate in Mansfield.

Julie Walker, assistant branch manager of The Nottinghams branch on Stockwell Gate in Mansfield.

with their financial status than a year ago.

Julie Walker, assistant branch manager of The Nottingham’s branch on Stockwell Gate in Mansfield, said: “It might surprise some to see Mansfield in the top ten, however our view is

that it is a real positive to build on.

“We know from conversations with our members how important it is to them to save wisely so they are in the best financial position possible. More and more people are coming to us every day to talk about how they can better protect themselves and their families financially in the future.

“There’s been a lot of interest in our range of ISAs over the last few weeks as people look to maximise tax-free savings options.”

The study by YouGov asked thousands of UK residents over 18 how much they have saved.

The study revealed:

1. London (93%)

2. Hyndburn (76%)

3. Rugby (70%)

4. North Hertfordshire (68%)

5. Westminster (66%)

= Brentwood

= Mansfield

8. South Bucks (63%)

= Burnley

10. Waverley (62%)

The research also revealed that 14 per cent of people in the UK have less than £100 in savings and only five per cent have between £1,000 and £1,999 saved.

However, nearly a fifth of people revealed their accounts exceed £10,000, and five per cent said they have over £100,000 put away.

With regards to what people are saving for, over a third said travel or holidays, with 28 per cent as a rainy day fund.

Retirement was the third most popular life event to save for with a fifth preparing for their golden years and one in seven saving for a house deposit.