Oxford has been recognized as one of the most financially literate cities in the UK, according to a recent study.

The research, conducted by Shepherds Friendly, revealed that 75% of Oxford residents successfully passed a financial literacy test, placing the city second only to Wrexham and significantly above the national average, where more than half of the population failed the test.

The study involved surveying 2,000 people on their understanding of ISAs, life insurance, and general personal finance.

In addition to Oxford, Worcester, Portsmouth, and York also ranked among the top five most financially literate cities. On the other end of the spectrum, Aberystwyth, Belfast, and Swansea were found to have the lowest levels of financial literacy.

Aberystwyth, at the bottom of the list, had only a 20% pass rate, while London recorded a pass rate of 42%.