Almost three quarters of consumers agree that Financial Planning is relevant for everyone, not just the wealthy.

According to a survey of over 2,000 people carried out by YouGov for the Institute of Financial Planning, 73 per cent of people feel Financial Planning is relevant.

The findings are the results of the first poll conducted for Financial Planning Week which runs all this week.

Some 77 per cent of people in the 18-24 category agreed most strongly with the statement, showing young people are catching onto the benefits of Financial Planning.

The fact many are struggling with increases in youth unemployment and student debt suggests more young people may be thinking about their finances than before.

Currently, over 1m young people under 25 are unemployed while the average student debt is set to increase to over £50,000 when the new tuitions fees are implemented next year.

Financial Planning does not have to mean seeing a professional adviser, it can also mean simply analysing spending habits and what to earn. The IFP wants to promote the benefits of Financial Planning of all kinds to consumers.

Marlene Shalton FIFP CFP^CM, President of the IFP and Financial Planner at Bluefin Wealth Management, said: “The result of this poll is quite surprising - in fact there are some financial advisers who think the opposite!

“The whole point about Financial Planning is that it’s not about what money you have now, but the mere fact that you actually plan what you will need and want to do with it in the future.”

John Prout, retail customer director at NS&I, a sponsor of Financial Planning Week, said: “It is good news that most people feel that Financial Planning Week is relevant to them, irrespective of their level of income, and shows how far this important aspect of financial wellbeing has entered the public’s mind.”