The survey of 1,965 UK adults over the age of 25, undertaken by YouGov for CISI, also showed 33% of 35-54-year-olds and 27% of women were not confident about their finances post COVID-19.

In Scotland, just 23% of respondents said they were confident about their financial situation following the impact of COVID-19.

Consumers were also asked whether they were confident that they had the knowledge to make the right financial choices in their lives. Of those who responded overall 15% disagreed.

In Northern Ireland, 23% disagreed with this statement compared to 11% in the East Midlands. Of 25-34-year-olds, 20% said they were not confident.

In addition, respondents were asked whether they were confident that they knew enough about money management to support their family long-term. Overall, 16% disagreed with this statement, with 22% of 25-34-year-olds and 21% in Northern Ireland disagreeing.

Jacqueline Lockie, CFP Chartered FCSI, CISI head of financial planning, said: “It’s clear that many families across the nation will have had their lives turned upside down by the impact of this pandemic, perhaps through ill health, bereavement, furlough or business losses. The findings of this survey show the real impact on people’s confidence in managing their future finances.”