Research from the Post Office showed the “flush” pay day feeling left 15% out of cash on a monthly basis and forced to rely on credit, while 17% stop checking their account at some point in the month.
John Willcock, head of financial services at the Post Office, said: "It is a concern that we are becoming “pay day” Britain just counting down to the next pay cheque.
“However the bigger worry is that so many workers are struggling to balance their income versus their outgoings every month.”
The report highlighted the financial tight-rope that many people face.
Of those surveyed 15% said they found themselves running out of money on a monthly basis, relying on credit cards, overdrafts and savings.
This happens yearly for over four in 10 people and across the country it is Londoners who feel the most comfortable about relying on other sources of credit at the end of the month compared to those in the West and East Midlands.
Overall one in four workers admitted their financial situation had a negative effect on their health. Just over a quarter stated that lack of money in the lead up to pay day causes them all types of stress while another quarter said that they have had sleepless nights worrying about how they are going to cover costs in the weeks before pay day.
Many are now adopting a “head in the sand” attitude; 17% stop checking their current account at some point during the month.
And the closer to pay day the more likely people are to stop looking at their balance with one in ten workers no longer checking their balance in the third and fourth week from pay day.
The report also revealed that having a payday buffer meant that just under one in ten of us go on a spending spree every month.
This splurge, usually at the beginning the month, often resulted in people struggling to pay for day-to-day expenses by the end of the month.
Of those based in London, 13% were most likely to go on a spree every month and subsequently struggle in the lead up to pay day.
