Regional Saving Hotspots Revealed
Richmond upon Thames and Aberdeen are the two top postal areas where Britain’s biggest savers live, latest figures reveal.
The research by Halifax shows residents in the TW10 6 area of Richmond Upon Thames have the highest average balance in the UK, even above the London average by 380 percent.
These residents have an average savings balance of £29,765 while residents in the Aberdeen AB15 4 area have an average savings balance of £26,130, which is 350 percent above the average balance in Scotland.
Putney’s SW15 6 postal area, Edinburgh’s EH12 6 and Stanmore’s HA7 4 also all have average savings balances over £20,000.
“The postal areas with the largest savings balances are in London, the South East and Scotland, with the neighbourhoods of Richmond upon Thames and Aberdeen streets ahead of the rest of the UK,” said Flavia Palacios Umana, Halifax Savings Products head.
“However the research also points to postal areas in Harrogate building their savings pots to rival those in the south.”
The research also reveals 31 of the top 50 postal areas with the highest savings balances are in Greater London – 19, and the South East – 12.
Prepaid Credit Cards to Aid Saving
If you would like to top up your savings balance but are struggling to keep money aside at the end of the month to be able to afford this, then a prepaid credit card could be the tool for you.
Prepaid credit cards work by helping the card user to budget more efficiently. Unlike a debit card there is no overdraft, and unlike a credit card, a prepaid credit card means users only spend the money they load onto it, so they do not borrow money and pay off a bill.
Users can also access their account online to monitor their spending with a prepaid credit card.