UK's most and least financially resilient areas revealed

Financial resilience is a term that often gets thrown around, but what does it really mean?

In simple terms, it refers to how well households handle their money and how they’re able to deal with unexpected costs and plan for what's ahead.

A recent study by Hargreaves Lansdown has uncovered some surprising insights about financial resilience in the UK.

Let's take a closer look.

The findings

The study highlighted that Wokingham, Elmbridge and St Albans are leading the pack as the most financially resilient areas in the UK.

In contrast, Hull, Nottingham and Liverpool found themselves at the bottom of the list.

This research paints a stark picture of financial wellbeing across the country.

According to the report, 79% of households in the top 10 most resilient areas have enough cash left at the end of the month.

But only 54% of households in the bottom 10 can say the same.

Understanding the research

While income is important, housing affordability plays a massive role in financial resilience.

Areas with affordable homes means people can buy a house which increases their financial security.

Sarah Coles, head of personal finance at Hargreaves Lansdown, said: “There’s a vast gulf between the capitals of resilience and the tougher areas where money is stretched and the future looks much harder.”

Most financially resilient areas

The top 20 most financially resilient areas typically benefit from high income levels and homeownership rates:

1. Wokingham, south-east
2. Elmbridge, south-east
3. St Albans, east England
4. Hart, south-east
5. Epsom and Ewell, south-east
6. Waverley, south-east
7. South Oxfordshire, south-east
8. Mole Valley, south-east
9. Surrey Heath, south-east
10. South Cambridgeshire, east England
11. Tandridge, south-east
12. Guildford, south-east
13. Windsor and Maidenhead, south-east
14. Horsham, south-east
15. East Hampshire, south-east
16. Winchester, south-east
17. Wealden, south-east
18. Sevenoaks, south-east
19. Fareham, south-east
20. Three Rivers, east England

Least financially resilient areas

In these areas, households often struggle with low levels of leftover money each month, emergency savings and pension savings.

1. Kingston upon Hull, Yorkshire and the Humber
2. Nottingham, East Midlands
3. Liverpool, north-west
4. Blaenau Gwent, Wales
5. Glasgow City, Scotland
6. Blackpool, north-west
7. Knowsley, north-west
8. Stoke-on-Trent, West Midlands
9. Tower Hamlets, London
10. Leicester, East Midlands
11. Hackney, London
12. West Dunbartonshire, Scotland
13. Sandwell, West Midlands
14. Burnley, north-west
15. Manchester, north-west
16. Newham, London
17. Merthyr Tydfil, Wales
18. Dundee City, Scotland
19. Barking and Dagenham, London
20. Wolverhampton, West Midlands

Support is available

If you’re struggling to make ends meet and have very little cash left over at the end of the month, it might be time to ask for support.

Get in touch with us for free debt advice – we can check you’re getting all the benefits you’re entitled to, create a realistic budget or suggest debt solutions (some are free and there are fees for others) to help you back onto your feet.