The research reveals a significant rise in the overall number of consumers who have realised that due to the economic challenges facing the UK, they may be at financial risk if they lost their main source of income, rising from a quarter (24%) in 20102 to a third (32%) in 2011.
Of those, Britain's middle generation felt most at risk overtaking the youngsters with 39% of 35-54 year olds (rising from 30% in 2010) admitting they would struggle to cope compared to 34% of 18-34 year olds in 2011 (rising from 28% in 2010).
The figures look at what consumers have learnt most about their finances from this year's economic challenges. Topping the table once again, 42% of consumers recognised that banks and bank advisers do not necessarily act on their behalf, while dropping into third position, 26% of people learnt that they should not put all their eggs into one basket.
Around 22% realised that property was no longer a 100% safe investment. More men (22%) felt that cash did not necessarily deliver the best returns compared to just 16% of women, while 22% of women admitted that they didn't know enough about how the financial markets work compared to just 17% of men admitting to this.
Commenting on the research Karen Barrett, chief executive of unbiased.co.uk, said: "The state of the UK's financial climate is really beginning to hit home and our research shows that a lot of people would struggle if they were to lose their jobs.
“The continued low interest rate and increasing inflation are having a severe impact on returns on savings while the housing market remains volatile. It's a critical and unpredictable time for consumers who do not know which way to turn for the best and this is why it's vital that they seek professional financial advice for their own personal situation, not just for now but for the long term."
