The survey from Norwich Union has found that although 53 pence in every pound is spent on financial products - such as
It revealed that 67 per cent could not specify what their monthly
Commenting on the figures, spokesman Alvin Hall remarked: "Budgeting blindly or with your head buried in the sand is a high risk strategy."
People should ensure they are fully aware of such issues in these times of economic crisis, he advised.
Meanwhile, research from website IFA Life discovered that online media coverage of financial issues increased 70 per cent over the summer of this year.