Insurance provider Axa claims over half of Britons (53 per cent) feel financial problems are the single greatest issue facing the nation today, up by a quarter (from 21 per cent) in just 12 months.

A year ago, a quarter of Britons thought terrorism was the main issue facing Britain but this has now dropped to just three per cent.

There is more concern about gun and knife crime – with 16 per cent of Britons citing this as their biggest fear, up from 13 per cent in 2007.

Immigration has dropped down the agenda with only 15 per cent registering their concern, compared with 26 per cent a year ago, while climate change concerns only four per cent of us against nine per cent last year.

Steve Folkard of AXA said: “Financial concerns can easily monopolise every waking thought, at home and at work, causing serious psychological problems.

“Money worries have a big impact on personal and professional relationships and in extreme cases they could even result in divorce and slower career progression, as people take out these frustrations on those around them.”

Axa recommends spending an hour a month reviewing finances, rather than adopting an ‘ostrich’ head-in-the-sand position.

“Taking a simple step, such as identifying regular incoming and outgoings can give someone a much greater sense of financial control,” Mr Folkard added.