Many adults in Plymouth say investing still feels out of reach after growing up in households where money and investing were rarely discussed, according to new research.

A study commissioned by NatWest found 84 per cent of Plymouth residents grew up in homes where investing was never talked about, while more than one in five people described themselves as “investment curious” but had yet to take their first step.

The research, based on a survey of 5,000 UK adults, found hesitation around investing was often linked to fears about making mistakes and concerns about lacking financial knowledge. Around 34 per cent of respondents cited fear of getting it wrong, while 27 per cent said they wanted a better understanding before investing.

Researchers also found one in four people in Plymouth said they would not consider investing until they had at least £10,000 in savings. Meanwhile, 65 per cent said they were not currently investing outside workplace pensions.

The study also suggested confidence and understanding remained major barriers, with 27 per cent saying better knowledge would have helped them feel more ready to invest. Around 26 per cent said they would be the first person in their family to invest if they took that step.

NatWest said the findings had prompted the launch of a new campaign aimed at helping people feel more confident about investing for the first time. The campaign has been developed in partnership with television presenter and consumer finance expert Angellica Bell.

Aroma Khan, NatWest investment expert, said: “At a time when many people are carefully managing their money and thinking hard about their financial priorities, we understand that investing may not feel like the right step for everyone.

“But for those who are in a position to save, investing can still feel out of reach, either because it was never talked about growing up or because it seems like you need a certain level of knowledge or money to get started.”

Aroma added: “We want to help more people feel confident enough to explore that first step, if and when they are ready.

“In reality, it is often about starting small, for example through something like a Stocks and Shares ISA, building understanding over time and recognising that you do not have to have everything figured out from day one.”

Angellica Bell said many people wrongly assume investing is only for those with large salaries or savings.

She said: “People often assume investing is something you need to have all figured out before you start, that you need the right salary, the right amount saved, or the right moment.

“But that is rarely how anything in life actually works.”

NatWest said more information about the campaign was available online.