The UK continues to experience financial pressure, with rising living costs and diminishing disposable income affecting many households. Recent search data indicates over 1.1 million monthly searches for ‘cost of living,’ signalling heightened financial anxiety across the country.

To understand where residents are coping best and where financial advice may be in higher demand, The Co-operative Bank analysed financial-related search volumes, employment rates, and median pay across 30 UK cities. This research highlights which cities demonstrate greater financial resilience and where demand for financial guidance is more pronounced.

Gloucester is the most financially resilient city, boasting the highest employment rate at 91%

Gloucester ranks first for financial resilience, driven by the highest employment rate of 90.8% among all cities studied. Residents in Gloucester conduct an average of 35 searches per 10,000 people each month for financial-worry-related terms, significantly lower than in cities where financial anxiety appears to be higher.

Other high-ranking cities for financial resilience include London and Oxford. London, ranking second, has a median weekly pay of £968, the highest in the UK, and a stable employment rate of 75.1%. Despite facing a higher cost of living, residents conduct 67 financial-worry-related searches per 10,000 people each month, reflecting moderate financial concern.

Oxford ranks third, reflecting relatively low financial concerns and positive economic indicators. Residents conducted 22 financial-worry-related searches per 10,000 people monthly, one of the lowest figures across the UK.

While these cities show signs of greater financial resilience, individuals and households across the UK continue to face financial challenges. This highlights the ongoing need for accessible financial support and guidance.

Newcastle residents are the most likely to seek financial advice, with 107 searches per 10k people monthly

Newcastle ranks first, with 107 financial-related searches per 10,000 people each month. Popular search topics include cost of living and interest rates, reflecting residents’ heightened financial concerns. With a weekly median pay of £600 and an employment rate of 69.4%, some residents may be seeking advice to help manage rising costs.

Birmingham follows closely, with 99 searches per 10,000 people each month. A notable search term is ‘food bank near me,’ indicating that residents may be actively seeking local support services. Birmingham’s median weekly pay is £629, slightly below the UK average, while its employment rate of 66.1% suggests challenges in job availability or stability.

Manchester, also with 99 monthly searches per 10,000 people, ranks third. Despite a weekly median pay of £679, above the UK average, the city’s employment rate of 65.9% may explain why financial concerns are prevalent. Many residents appear proactive in seeking financial advice.

Karen Davison, Head of Unsecured Arrears & Bereavement, shares key tips on how to cope with the cost of living rise:

“Effective financial management starts with planning. The 50/30/20 rule is a helpful guide: 50% of income goes to essentials, 30% to wants, and 20% to savings. For example, if you earn £2,000 per month, that’s £1,000 for essentials, £600 for wants, and £400 for savings, adjusting as needed to fit your situation.

To cut energy costs, review bills for better rates and practice energy-saving habits like turning off unused appliances or cooking in batches. If needed, contact your supplier about support options such as payment breaks.

Smart shopping can also reduce expenses. Use loyalty cards, seek discounts, plan meals, and pack lunches to save money while reducing waste.”