New YouGov research reveals that nearly three in ten members of the British public (28%) say they are not planning ahead financially.

Of the rest, a fifth plan less than one year ahead (21%) and the same proportion plan 1-3 years ahead (21%). Some 12% plan 3-5 years ahead, but only a quarter (25%) plan more than five years ahead.

YouGov’s data shows that nearly three in five (57%) say they lack the funds needed to plan for their financial futures, while a quarter (24%) say they do not have the knowledge or understanding needed to plan effectively.

In any case, those who have started planning are more likely to feel they left it too late rather than too early (45% vs. 3%), with half (52%) saying they started at about the right time. A third (35%) would go as far as saying they are off-track from achieving their financial goals, while three in ten say they feel confused about how to plan for them (30%).

The most commonly selected financial goal was building an emergency fund, which was chosen by 35% of respondents. Nearly as many cited retirement planning (33%), with investing/growing wealth coming in third (27%).

Another 25% want to support their families, and 21% say they want to pay off debt. Major purchases (16%) and buying a home (16%) follow, with 15% saying they want to pass on wealth or inheritance. Some 16% say they have no financial goals whatsoever.