Cornwall’s economic outlook is bright, according to a new survey carried out in seven towns across the county.
In the poll, carried out for a group of Independent Financial Advisers known as ‘BetterOffCornwall’, 40% of people said they expected to be “a little” or “a lot” better off in the next year. Only 16% said they expected to be worse off.
The survey found that people in St Austell were most optimistic with almost half expecting to be better off. The least hopeful were those in Penzance; almost a third of those questioned said they expected to be a little worse off in the next year.
More than 200 people were quizzed in the survey which was carried out Penzance, Camborne, Truro, St Austell, Newquay, Bodmin and Liskeard.
Spokesperson for BetterOffCornwall, Tim Bowcock, commented: “This is a unique snapshot of Cornwall’s financial habits and opinions. We’ve been surprised by how optimistic Cornwall is, but also how lazy people can be in their financial habits, preferring to stick with their existing financial situation, rather seeking advice on what improvements can be made.”
The poll also showed startling differences between age groups; optimism among people of pension age was twice as high as people aged 16-24.
While 10% of pensioners expect to be worse off in the next year, that figure was around 22% for 16-24 year olds.
BetterOffCornwall is part-funded by the Partner to Succeed element of the Convergence Programme and is designed as a “buy local” campaign for financial advice.
It brings together five Independent Financial Advisers across Cornwall; Kelsall Steele in Truro, Rhodri Evans 2Plan in St Austell, JLT iimia Wealth Management in Falmouth, 1st 4 Mortgages in Redruth and Jacksons Financial Services in Penzance.
The survey shows that optimism is markedly higher among people who look after their financial affairs. Of those people who described themselves as “very good” at managing their finances, more than three-quarters said they expected to be a lot better off in the next year.
Meanwhile, almost half those who described themselves as “very bad” at managing their finances expected to be worse off.