Families generally feel financially responsible for each other, according to findings from an NS&I survey.

It found that 54 per cent of people carry this belief, while 70 per cent admitted that families should support each other in times of economic turmoil.

"When we look at several demographic trends, like the rise of single-person households, the advance of technology and young people’s involvement in financial matters, we can expect the Financial Family to be a very important feature in the future," commented Barry Clark, associate director at the Future Foundation.

The report, entitled Finance and the Future, also found that 55 per cent of people feel comfortable discussing financial issues with their close friends and family and 60 per cent are sharing financial tips.

Another recent study from the NS&I found Britons have saved an average of £86.35 each month over the last year, reaching a high of £90.12 during the winter months ending in February.

Despite the current economic climate, the number of people who save money regularly each month remained constant throughout 2008, it also discovered.