A survey of 4,000 consumers from provider LV= said that 31% of consumers were worried about their finances, but only 3% have talked to a Financial Planner to share their concerns.
The report said those with assets (excluding property) of between £100,000 and £500,000 had the least concerns. They were less likely to have seen a decrease in income from employment, were less likely to have been furloughed and were more likely to have seen a fall in their monthly outgoings.
However, one in four in this group expected their finances to worsen over the next three months.
Part-time workers were the most likely to have financial concerns. Four out of ten had seen their incomes fall compared to a quarter (26%) of those full-time employed.
According to the survey, the Coronavirus pandemic prompted 18% of respondents to review their finances, and nearly one in four (21%) had been saving more money in the past three months.
More than a quarter (28%) of respondents had seen the value of their pensions fall. However, 6% of over-55s were considering taking early retirement while 4% were thinking of delaying retirement due to the pandemic.
Fewer than one in ten (8%) increased payments into a pension, while one in ten cut their pension contributions.
Clive Bolton, managing director of savings and retirement at LV=, said: “Coronavirus has been a huge shock and the lives and finances of millions of people have been disrupted. Our survey of the UK population’s financial confidence, health and attitudes to spending and saving reveals just how worried people are about the future.
“With the stock market volatility of the last few months and fears about impending job losses, it’s understandable that people are taking a safety-first approach and saving more into current accounts."