UK’s most financially assured cities named – how does yours evaluate?

Edinburgh locals are the most financially savvy in the UK, leading the pack in areas such as saving, investing, retirement planning and overall money management, with Cambridge hot on their heels.

Despite boasting the highest percentage of confident investors (43%), London only ranks third in overall financial confidence, with Brighton & Hove and Norwich rounding out the top five.

Southampton, Sheffield, Bristol, Leeds, and Leicester aren’t far behind, showing high levels of financial confidence among their residents. Liverpool, however, has been dubbed the least financially confident city in the UK, ranking just below Belfast, Newcastle, Glasgow and Plymouth.

The study, commissioned by Moneybox, the savvy saving and investing app,involved 4,000 UK adults and revealed that those who consider themselves financially confident have nearly double the net worth of those with low financial confidence, regardless of income.

These financially astute individuals have, on average, accumulated a net worth of £145,000 (excluding properties) – including savings, investments, and pension contributions – compared to a mere £78,000 among their less financially confident peers.

Interestingly, the research also highlighted that spending time learning about money matters is the most significant contributing factor to higher levels of financial confidence.

Brian Byrnes, Head of Personal Finance at Moneybox, dished out some advice: “When it comes to making the most of your money, building financial confidence can be a real game changer to ensure you are equipped to make the most of all your financial opportunities in life.”

“Our research has shown that one of the most important things a person can do to improve their financial situation is simply spending time getting to grips with personal finance topics.”

“This simple step, which we can all choose to take, can have a notable positive impact on so many aspects of our financial lives.”

“Whether you spend 30 minutes a week reviewing your budget, researching the best financial products for your needs, or making a plan to help you achieve an important financial goal – time spent on your finances is critical in boosting your financial confidence, and therefore, your financial position over time.”

A study by OnePoll revealed that a mere 20% of Brits across the UK regularly get stuck into learning about personal finance topics. Meanwhile, four in ten Brits only occasionally brush up on their financial know-how.

Worryingly, just three in ten are on the ball with consistently making and sticking to a budget. Out of everyone quizzed, a paltry 14% had ever shelled out for professional financial advice.

Edinburgh, Cambridge, and London have been named as the UK’s most financially confident cities, according to a study.
Edinburgh, Cambridge, and London have been named as the UK’s most financially confident cities, according to a study.

On the savings front, Cambridge and Brighton & Hove are smashing it, showing top-notch confidence, while Belfast and Liverpool are lagging behind, finding it tough in this area.

Despite coming in 16th on the financial confidence index, Belfast matches London with the highest number of residents feeling confident about investing (43%). In contrast, only a quarter of Glaswegians and Geordies feel the same way.

Mancunians are the most self-assured when it comes to planning for a comfortable retirement, with 57% of the population feeling confident. They’re closely followed by Brummies, Leeds folk and Edinburgh residents.

Scousers (42%), Southampton residents (44%) and Plymouth dwellers (44%) are the least confident in their preparations for retirement.

Brian Byrnes, goes on the say: “Financial education, both in school and throughout adulthood, has been severely lacking in the UK, which has meant that many are left to figure out how to manage their money and plan for the future through trial and error.”

“The financial services industry has evolved a lot in recent years and providers have a host of information and tools available to help guide and support people as they learn how to achieve their financial goals and build wealth for the future.”

“However, without a doubt, more needs to be done, by the government, regulators, and the industry as a whole, to close the advice gap and help boost the nation’s financial confidence and long-term financial resilience.”


  1. Edinburgh.
  2. Cambridge.
  3. London.
  4. Brighton & Hove.
  5. Norwich.
  6. Southampton.
  7. Sheffield.
  8. Bristol.
  9. Leeds.
  10. Leicester.
  11. Manchester.
  12. Birmingham.
  13. Plymouth.
  14. Glasgow.
  15. Newcastle.
  16. Belfast.
  17. Liverpool.