Customers in the region save £434 each year – or around £36 per month, the financial services group said.

People living in Greater London came in second in the list of savviest savers, putting away an average of £424 each year.

Investors in Wales lagged behind, saving £323 per year or around £27 per month.

They were followed closely by people in the North East and Yorkshire, who save an average of just £311 a year, equal to £26 per month.

Neil Lovatt, product director at Scottish Friendly, said: “Even with an average saving of £376 a year being put away, the potential rewards, although not guaranteed, can be really impressive. Our friends in the South West have got the right idea; the key is to invest what you can, as often as you can.”

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