Two-thirds of people in the UK have made no effort to save in the past two years, according to independent research commissioned by Allied Dunbar.
The research shows Isas are the most popular savings product, with 40 per cent of savers having money in an Isa.
Twenty-four per cent did not know what investment vehicle they would use if they wanted to save for the future.
The research shows nearly a fifth of people did not take any form of advice on what savings and investment products to use. Of those who did take advice, only 17 per cent said they use a professional adviser.
Gallup conducted the research between last Aug ust and September using phone interviews from a randomly selected sample.
Allied Dunbar investment marketing director Paul Wright says: “Des pite Government encouragement, an alarming majority of people just have not saved a bean in the past two years.
“Worryingly, almost half of those who did not save said they could not afford to. The fact that almost a quarter of people said they did not know what investment products to use shows there is a continuing need for financial advice.”