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Mansfield people feel better off, says study

Posted onPosted on 15th Apr

Mansfield is one of the top 10 areas in the country where residents feel financially better off than they did 12 months ago, according to a savings study analysed by The Nottingham.

The mutual building society said it has retained an ethos of helping people to save and have a roof over their heads since it was founded by Quaker Samuel Fox exactly 170 years ago.

So it was keen to look into the YouGov data highlighting the UK areas that feel they are making the right strides forward financially.

London came out top of the list of the study of nearly 175,000 residents.

Mansfield, which was placed fifth, was the only East Midlands location to make the top 10, with 66% of people happier with their financial status than a year ago.

Julie Walker, assistant branch manager of The Nottingham’s branch on Stockwell Gate, Mansfield, (pictured) said: “It might surprise some to see Mansfield in the top 10, 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.”

The research revealed that 14% of people in the UK have less than £100 in savings and only 5% have between £1,000 and £1,999 saved. However, nearly a fifth (18%) of people revealed their accounts exceed £10,000, and 5% said they have over £100,000 put away.

With regards to what people are saving for, more than a third (34%) said travel or holidays, and 28% ‘a rainy day fund’.
Retirement was the third most popular life event to save for with a fifth (20%) preparing for their golden years and one in seven (14%) saving for a house deposit.