New research has revealed that Stopfordians are finding it easier to save than others in Greater Manchester - but some are still feeling the pinch.

A study commissioned by Manchester Building Society (MBS) found that the average Stockport resident has £16,163 put aside - compared to an average of £15,420 across the whole Greater Manchester region.

However, 23 percent of Stopfordians who took part in the study said they felt 'anxious' about their savings, and eight percent said their savings would last less than a week if they needed them to cover basic living costs. 

MBS' investigation estimates that the average Stockport resident's savings would last four months - however, more than four in ten said their savings would last six months or more.

Almost three in four Stopfordians (73 pc) were found to be saving regularly, with an average of £375 being saved in the borough per month. 

People's top priorities in saving were emergency or unexpected costs, retirement, and home improvements.

Over half (56 pc) of Stockport residents feel hopeful that they will be able to save more in the future (Image - Andre Taissin / Unsplash)

Deborah Walker, development director at Manchester Building Society said: "Whilst it's great to see that plenty of Stockport residents are building up impressive amounts in their savings accounts, our research also shows that others have very little set aside for life's unplanned expenses. 

"Most people are optimistic they'll be able to save more in the future, but I know at times it can feel tough to find someone you trust to talk to about your savings and how to make your hard-earned money work harder.

"Our new branch on King Street in Manchester city centre proves our commitment to face-to-face financial services and saving with a building society means that whether you've got one pound or a thousand, you'll be earning interest for yourself and supporting the work we do with community groups and charities across the region. 

"Our new Manchester Rainy Day Saver is about making it easier for the people of Stockport and Greater Manchester to plan for the long term, whatever the weather." 

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