According to MoneySupermaket.com, 18% said their current financial situation caused them the most stress while 13% worried about their future.

In comparison, 13% said concerns about their health caused them the most stress.

To add to the strain, of those who are already stressed about their finances, a staggering 72% think their financial worries will only increase this year, with the rising cost of living being the primary reason for 51% of people.

Clare Francis, editor-in-chief at MoneySupermarket.com, said: “While we have recently narrowly avoided a triple dip recession, the impact of the last five years has hit people’s finances hard, and so it is not surprising that it is such a cause of anxiety and stress.”

The younger generation are feeling the financial strain the most, with two-thirds of 18 to 34 year olds saying they are frequently or occasionally worried about money.

However, it’s not just health that is affected. A third of people said financial stress was putting a strain on relationships with their partners or family.

A further nine per cent reported that their work is affected by money woes.

As a result, MoneySupermarket has partnered with mental health charity, Mind, in a bid to raise awareness of the link between finances and mental health issues in society.

People worried about their financial situation are being advised to seek help and advice which is available free of charge from debt charities such as Step Change and the Citizen’s Advice Bureau.

Paul Farmer, chief executive of Mind, said: “Over the last few years many families have had to tighten their belts as they face increased living costs, wage freezes, redundancy or fears about job security. These pressures can take their toll and for some it may have triggered mental health problems such as stress, anxiety or depression.

“At Mind, we believe no one should have to face mental health problems alone and that’s why we offer information and support to anyone who might be struggling with money matters.”