The major outgoings currently on ice include booking a holiday, buying a new home and buying a new car, according to the latest quarterly ‘Brexit and personal finances’ survey by Royal London, the mutual insurer.

Overall, 36 per cent of Brits – around 18 million people – think their personal finances will get worse once the UK leaves the EU at the end of this month, up from 32 per cent in November 2018.

As a result, more are trying to do something about it, with the proportion of people saying they have made changes to their personal finances ahead of Brexit rising from 8 per cent six months’ ago to 11 per cent now.

The biggest concerns for people are higher food prices, a fall in the value of the pound and more expensive energy costs.

Becky O’Connor, personal finance specialist for Royal London, said: “Millions of people are rejecting the old adage of ‘keeping calm and carrying on’ and instead opting for caution and waiting for the outcome before moving on with their lives.

“With so much hanging in the balance, it is hard to blame those who choose not to commit a large amount of money to a new purchase. The research shows the lives of the Great British public are literally on hold, with new homes, cars and holidays all delayed.”

Royal London is urging people to get their finances “Brexit ready” in the next four weeks, with its six-point action plan:

B – Balance your saving and spending needs

The amount most of us should aim to have in emergency savings is three to six months’ worth of current income.

R – Regularly review outgoings

Save money each month by switching to a cheaper mortgage deal if you are already at or coming to the end of an existing deal. Try an automatic energy switching service to ensure you are always on the cheapest energy deal. Check the cheapest petrol and diesel near you on petrol comparison websites to make sure you aren’t overpaying on fuel.

E – Explore savings options

While interest rates still aren’t particularly alluring, it’s still going to be better for you to be on a best buy easy access account than the average rate. Check the best buy tables.

X – Exchange your currency

If you need to buy foreign currency for a future trip or to send money abroad, then you might want to exchange in advance to mitigate volatility, perhaps holding the money in a borderless multi-currency account in the meantime.

I – Invest wisely

The usual guidance to spread your investments is particularly worth heeding at times of uncertainty. Investors with a low appetite for risk should ensure most of their assets are held in sterling bonds and cash to protect their investments from swings in the exchange rate. If you are a growth-oriented investor you should consider opting for a multi-asset approach to help you ride out any ups and downs in the market with money spread across a variety of asset types including bonds and commercial property as well as stocks and shares, both at home and abroad.

T – Take action on retirement pot worries

For anyone about to retire, the big worry will be that stock market volatility will affect the value of their pension pots just at the point they want to draw on them. If this is you, it could be time to contact an adviser.