Millions of Brits are more worried about having 'beer money' than saving for a pension, research revealed yesterday.
The 'live for today' attitude also extends to many of us placing a good social life, being slim and yearly holidays above saving for the future .
The worrying trend emerged in a 'Priority Report' published by Skipton Financial Services.
A large percentage of those polled also admitted placing greater importance on everyday events like having a full tank of petrol than saving for a house or planning for retirement.
Yesterday, Andrew Barker of Skipton Financial Services, the mutually-owned financial adviser, which commissioned the research among 2,000 Brits, said: ''Brits are under a massive financial strain and with inflation still remaining above pay and has been for the last few years, this is putting a real squeeze on people's take home money.
''Therefore it is not surprising to see many people only looking as far ahead as this week or this month.
''The danger of the 'short-term' approach though is that long-term financial goals get neglected which may hit families even harder in the future.
''We seem to have great intentions with a large chunk saying, if they were forced to make cutbacks, they would hypothetically cancel Sky TV compared to only 10 per cent stopping saving or investing money.
''However, when push comes to shove, people are ditching contributions into their pensions or investments and keeping Sky TV. A worrying number also said they had no long-term investments, savings or pension.''
The study quizzed adults on their attitudes and behaviour towards spending and saving in the current economic climate of higher inflation and pay squeezes
It found that once Brits pay for their essentials - like bills, rent and mortgage - the rest of their money is more likely to go on TV subscriptions, meals out and haircuts rather than putting it towards a pension
And having a new wardrobe is prioritised over putting spare cash into a savings account or investing it somewhere.
Treating yourself to meals out, takeaways and heading down the pub emerged higher up in the list of priorities than paying off overdrafts and credit card debts
The survey also looked at the main worries Brits face on a day-to-day basis.
Making sure there's enough food in the house (45 per cent), that there's enough petrol in the car (35 per cent) and figuring out how to pay the bills (34 per cent) emerged top.
But keeping on top of the washing and ironing (29 per cent) and making sure their other half is happy (a quarter) are also considered important.
The majority (29 per cent) blame their finances as the main cause of their worries, while work (17 per cent), family (13 per cent) and health (11 per cent) also get Brits worked up on a regular basis.
Yet when it comes to the targets British adults have set themselves for the coming year, just one in eight plan to climb out of their overdraft and one in five will clear their debt. One in ten will start saving for a house deposit.
Instead, four in ten will focus their efforts on getting their body into shape, a third look forward to their summer holiday and the same number are 'excited about their great social life'.
The study looked at how millions of adults are struggling to manage their money properly.
Three in ten have felt the squeeze and either cut down or completely ditched takeaways or meals out at restaurants. A quarter have reduced the number of clothes shops, trips to the pub and one in five don't go on as many city breaks.
One in eight Brits admit they 'struggle to make ends meet' and the majority (32 per cent) manage to keep up with their basic outgoings but have very little or nothing left over at the end of the month.
And when quizzed on thinking about the distant future, one in five said they worry more about what's happening next week than several years down the line.
More than half - 55 per cent - have no long term investments, saving schemes or pension plans in place and 27 per cent said they are all about 'living for the now'.
Andrew Barker, added: ''The average person surveyed had almost £5,500 in savings or investments which is good, as the well trusted advice is that you should always have between three and six months' salary saved for if the worst happened.
''Yet a third admitted that they go into their overdraft regularly, with the average person £388 overdrawn. With many banks making charge for going overdrawn, this is a slippery slope to debt and if are dipping into their overdrafts month-in month-out, then they really need to do a budget plan and see where they can cut down their expenditure.
"Things are tough at the moment and many people are in survival mode right now however, when the economy recovers and pay starts increasing over and above inflation, you need to make sure you have your long-term, as well as your short-term, financial goals covered.
''Pensions are a great example of something which is never too early to start doing, no matter how far you think you are from retirement.
''For example, if you started paying £200 a month into a pension from the age of 20, you could expect a retirement income of £14,330 a year, based on current annuity rates and assuming the fund grew by seven per cent.
''But if you delayed paying in for just five years, your retirement income would fall to £10,180. The longer you leave it, the worse it gets because contributions you make when you are younger are worth more as they have longer to grow. Waiting until you're 40 will mean just £5,450 a year in retirement.
''A considerable number also didn't know if their employer had a company pension scheme and, with many employers matching or making additional contributions, this is a great way to help you plan for the long-term.''
BRITS TOP PRIORITIES
1. Petrol
2. Clothes
3. Savings account or investment
4. TV subscriptions (eg Sky)
5. Meals out at restaurants
6. Takeaways
7. Pub
8. Summer holiday
9. Haircuts
10. Paying off overdrafts or credit card debt
11. Cinema
12. DVDs
13. City breaks or trips away
14. Giving the kids what they want
15. Tickets for live events (for example football, music etc.)
16. Videogames
17. Pension
18. House deposit
19. New car
20. Placing bets
