UK consumers are twice as likely to play the lottery than they are to speak to a financial adviser to try to improve their finances, according to a new study.

Seeking professional financial advice came low down on people's money priorities, a survey of more than 2,000 consumers found.

When asked what measures people would be likely to take to better their financial situation over the next 6 months, 12% of respondents to a YouGov survey commissioned by Paymentshield said that they would likely play the national lottery in order to better their finances.

In contrast just 5% of the survey’s 2,139 representative respondents said they would seek professional financial advice.

Playing the lottery was respondent's third most popular choice to improve their financial situation, behind reducing spending (42%) and increasing savings (28%).

Almost half (46%) of those polled said that protecting their financial future was more important to them now than before the Coronavirus pandemic with 40% saying their financial worries have increased since the pandemic began.

Rob Evans, CEO of Paymentshield, said that although the research may appear worrying at first glance, he sees it as a huge opportunity for advisers.

He said: “It’s clear to see that the global pandemic has made the UK consumer more worried about their financial future, so much so that they are prepared to gamble in an attempt to improve it.

“Financial advisers are in the unique position to help alleviate clients’ anxiety around their finances and help them to find financial stability.”

YouGov surveyed 2139 adults between 4-5 January.  The survey was carried out online. The figures have been weighted and are representative of all UK adults.