A third of households will fail to set a budget for 2013 to help with costs of rent, food and travel, according to the Money Advice Service.
The organisation estimated that this equated to over 16 million people who would not be planning their spending in the New Year.
Some 32 per cent of these people who did not keep a budget said they could afford to overspend, 17 per cent said they doubted they would stick to it and 16 per cent preferred to be spontaneous with their spending.
Those people who did keep a budget said it gave them peace of mind and helped them cope with any unexpected costs that might arise.
Almost 70 per cent of households in Scotland and Northern Ireland kept a budget but the worst area was the North East where less than half of people had a budget.
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More women than men said they kept a budget, 51 per cent compared to just 36 per cent of men but men said they found them easier to stick to.
Jane Seymonds, head of service delivery at the Money Advice Service, said: "I'm impressed by the number of budget keepers we have in the UK but surprised by the number of budget dodgers.
"These findings highlight interesting reasons why they choose not to budget. In these economic times, many people don't have much money left over after the bills have been paid so it's really worrying how many households intend to live off overdrafts and credit cards."