An accountancy firm has given its backing to a campaign to improve people's money management across the UK.

Lamont Pridmore is urging people to take the necessary action to organise their financial affairs as part of Talk Money Talk Pensions Week.

Formerly known as Financial Capability Week, the annual campaign aims to get more people talking about money and seeking help from organisations and professionals.

The latest data for the UK shows only 38 per cent of seven to 17-year olds say they learned about how to manage money at school, with 11.5 million adults having less than £100 in savings and investments.

The study by the Money and Pensions Service, which is behind the national campaign, also found 22 million working-age adults do not feel they understand enough about pensions to make decisions about saving for retirement.

Graham Lamont, chief executive at Lamont Pridmore, which has branches across Cumbria, said: “It is of great concern to us that so few people seem informed about day-to-day financial issues.

"The fact that more than half of UK adults have hidden financial concerns from their family and friends indicates just how taboo a subject personal finance is.

“We are proud to be supporting the Talk Money Talk Pensions Week and would encourage people to reach out to professionals, such as ourselves and our financial advisors at Lamont Pridmore Asset and Wealth Management to seek help and assistance to create robust life wealth plans.”

Partner Chris Lamont added: “The lack of financial education in the UK is a real problem and it is preventing many people from making informed decisions about their future.

"There is a lot of support out there and people must reach out to find it and speak with their families so that they can move ahead with their lives.”

Karl Burrell, managing director at Lamont Pridmore’s Kendal office, said: “Personal finance can be complicated and many people don’t know where to turn to next.

"Failing to plan for the future can lead to a lot of issues and so it can pay to seek out help earlier in life.”