UK’s most jealous metropolis revealed as almost half are ‘resentful’
New research has named Leicester the UK’s most financially resentful city, with 44% of residents in the study saying they feel envious at the wealth of other Brits
The UK’s most jealous city has been named(Image: Getty)
A city has claimed the unwelcome distinction of being “the UK’s most financially resentful” – with nearly half its inhabitants seething with jealousy over fellow Britons’ prosperity. The research revealed we dedicate 53 minutes each week brooding over others’ financial situations, with our greatest monetary frustrations directed at friends (53%), social media users (35%), workplace peers (23%) and even our own parents (18%).
However, whilst Norwich residents are most satisfied with their circumstances – those in the East Midlands city of Leicester are the most discontented, with 44% bubbling with resentment towards others’ wealth. Leicester was narrowly trailed by Brighton and Cardiff (both 43%), whilst Liverpool (42%) and the capital London (40%) rounded out the top five envious cities.
Almost half of Gen Z (49%) harboured economic grievances, marginally ahead of millennials (48%). Following were Gen X (aged 46-61) at 40%, with Baby Boomers (aged 62-80) trailing at 22%.
The survey of 2,000 Britons, commissioned by comprehensive banking app thinkmoney, discovered those earning between £50-75k (44%) – the so-called squeezed middle – displayed the greatest financial resentment, whilst those earning £100k and above showed the least (34%).
Consumer specialist at thinkmoney, Vix Leyton, commented: “Comparison has always been the thief of joy, and social media has given it a billboard.”, reports the Express.
She added: “It has never been easier to see who has bought a house, who is on holiday, who just upgraded their kitchen – and never harder not to measure yourself against it.
“In the middle of a cost-of-living crisis, that can make you feel both behind and powerless at the same time.”
She added: “The problem is comparing your full financial reality to someone else’s highlight reel.
“We see the keys to the new flat, not the parental loan, the long-haul holiday, not the credit card bill, the pile of presents without the buy-now-pay-later balance quietly ticking away in the background.
“According to the data, plenty of people are stretching themselves to maintain an image, and that illusion can come at a real financial cost.”
Alarmingly, more than a quarter admit they’ve slipped into debt trying to keep up with the Joneses, with the average debt amounting to a staggering £1,874.
Vix Leyton added: “No one is saying ambition is wrong, or that you should not want more. But you will never have the full picture of someone else’s finances, so using it as a benchmark is flawed from the start.
“But it is worth remembering that the data shows money alone does not guarantee happiness.
“Financial security brings stability and choice, which matter enormously, and working towards that – whether through clearing debt, building up savings or starting to invest – is never wasted.
“But keeping up with the Joneses rarely delivers the contentment people expect, particularly if the Joneses are sneakily putting it on credit as well.”
When questioned about how they covered the shortfall, the majority (37%) opted for a credit card, whilst a quarter (24%) relied on an overdraft.
Paradoxically, one in five (20%) turned to friends and family for help, 17% delved into their savings and 16% reduced spending on necessities or utilised BNPL schemes.
Additionally, more than one in ten (12%) even skipped a payment to stay financially afloat.
The top 10 most financially resentful cities:
Leicester – 44%.
Brighton – 43%.
Cardiff – 43%.
Liverpool – 42%.
London – 40%.
Birmingham – 39%.
Sheffield – 39%.
Oxford – 38%.
Cambridge 37%.
Edinburgh – 37%.
The top 5 happiest cities with their financial situation:
Norwich – 69%.
Glasgow – 68%.
Stoke – 68%.
Plymouth – 67%.
Newcastle – 65%.
