UK singletons could be fuelling the UK’s inability to save for the future as one in ten currently feel out of control financially.

Some 41% have already suffered a financial crisis at some point in their lives, compared to 28% of married people, said an IFA Promotion survey.

But taking a step onto the property ladder is an important trigger for getting a hold of your finances - three times as many renters feel out of control of their money as those with a mortgage – therefore if the home buying process is delayed the savings gap will only widen as a result.

The survey shows that just over half of the UK adult population (24 million people) are not prepared to cut back on spending to save more for retirement, and nearly three quarters (70%) claim they cannot save a penny more than they currently do. This is despite the widely reported UK savings gap and the possibility of a rising state retirement age.

As well as youngsters in financial disarray, ‘middle youth-ers’ are delaying being grown up about their money.

Our grown-up experiences are being delayed as the average age for a first marriage (28 for women and 30 for men) and buying a property (34) both steadily rise.

This naturally impacts on our attitude towards our money as people feel they can put off settling down and being grown up about their finances. One in four singletons (24%) simply don’t think about the impact of their current financial situation on their future lifestyle – compared to less than a fifth of the population as a whole.

The research also revealed:

• 72% of 25-34 year olds prefer to bury their heads in the sand and simply don’t know what their financial situation is.
• 16-34 year olds say they aren’t saving enough because they are simply enjoying spending their money (24%) or paying off debts (38%).
• A quarter of this group (25%) say they do plan to start saving in the next twelve months however.
• The number of people who believe they are saving enough has dropped from 40% last year to 28%.

David Elms, chief executive of IFA Promotion, said: "Retirement seems a long way off when you are in your late twenties or early thirties but if you don’t start planning for your pension in time it will have a serious effect on your future lifestyle."

"We are delaying important life events such as marriage and mortgages until later in life but this doesn’t necessarily mean we want to work into our dotage because we can’t afford to retire. The only sure-fire way to solve this dilemma is to take some responsibility for your long term finances now and get saving."