New figures from GoCompare have found that 49% of people in the UK are either worried or seriously worried about debt and their financial year ahead.
The group also reported that 60% of consumers say that 'reducing their outgoings' is their number one priority as the cost of living continues to soar.
Younger people and in particular students were the most concerned with their finances, with over 64% of 16-24 year-olds saying they were worried.