Research reveals Stopfordians have higher than average savings - but one in five still feel anxious

Recent research suggests Stockport residents are better at saving compared to others in Greater Manchester, with the average savings at £16,163 versus £15,420 regionally. Despite this, 23% of Stopfordians feel anxious about their savings, and 8% say their funds would only last under a week for basic living costs. On average, Stockport folks’ savings could last around four months; however, over 40% reported they could last six months or more. A solid 73% are saving regularly, with an average of £375 saved monthly, focusing mainly on emergencies, retirement, and home improvements. Over half are optimistic about increasing their savings in the future. Deborah Walker from Manchester Building Society highlighted the importance of accessible financial support, noting their new branch in Manchester city centre aims to help locals save with confidence. The new Manchester Rainy Day Saver is designed to assist residents in long-term financial planning.

Read the full article at Stockport Nub News