AN estimated 27 million bills go unopened when they first arrive as Britons fail to make time for their personal finances, research claimed today.

Around 29 per cent of people admit they have bills sitting around at home which need their attention but which they have not yet sorted out, according to Visa UK.

At the same time, half of people said they have intended to give more attention to organising their money but have failed to do so.

Young people are the worst at failing to get on top of their finances with 56 per cent of 25 to 34-year-olds saying they let other things distract them from money management, while those aged over 65 are the best at getting on with things, with just 38 per cent admitting they are not on top of their money.

Benjamin Fry, the psychological coach from television programme Spendaholics, said: "Many wrongly think that ignorance is bliss but it is far better to face up to your responsibilities early on.

"By taking control of your finances you can avoid additional stress and leave more time to enjoy life instead."