Some 45 per cent of UK adults are unable to say how much money they have in their bank account.
This is according to a survey by Barclays, which also discovered that 36 per cent of people either put off or refuse to open their statements because they do not want to look at them.
While 18 per cent admitted they are too scared to look at the documents, seven per cent do not like finding out where all of their money has gone and this highlights how many people in the UK have their heads buried in the sand when it comes to their finances.
Dan Wass, Barclays Managing Director of Current Accounts, said: "No-one really wants to know they don't have enough money for something they've spotted in the shops do they?"
However, he added people have to keep on top of their financial situation and they can use services such as mobile phone apps or SMS balance alerts to do so.