One in five `spend salary within a week`

Just under one in five Britons (19%) spend their earnings within a week of being paid, according to a survey by Vouchercodes.co.uk.

14% say they normally run out of money around half way through the month. And 14% say they have to rely on their overdraft to get them through to payday, with the 18-24 age group most likely to find themselves in these circumstances.

But the survey also found that 24% of men always have money left over at the end of the month, compared with 18% of women.

An expert at debt management company Gregory Pennington said: "A carefully planned budget should help people to make their money last through the month, but it seems that many are struggling to make it through even the first week.

"Some people may find that better financial planning helps them to make their money stretch further. On the other hand, there will be a lot of people who simply can`t afford their bills, debt repayments and other financial commitments. It`s important that those people get help as soon as they can.

"Once someone has run out of money, any unexpected cost that month is likely to send them into debt. This situation could be especially serious for people who are already struggling with their debts - but the right debt solution could help them to make all their essential outgoings affordable again."