In research carried out by Engage Mutual Assurance, about two out of three females (67 per cent) are reported to find it "relatively easy" to keep up a routine of saving money. Meanwhile, 70 per cent of ladies are able to budget well, in comparison to 68 per cent of males. The results come despite women being indicated to earn 30 per cent less money than men.

Commenting on the figures, Karl Elliott, marketing director for Engage Mutual Assurance, said: "The good news from these results is that many Britons actually find saving as part of their day-to-day lives relatively easy. When you compare saving for the future to other common lifestyle challenges, you realise that getting into the habit of saving can be easier than changing your diet, for example. By getting into the habit of saving more often Britons can help secure both their and their family's future".

Research from the financial services company also showed that consumers with young families have the greatest difficulties in setting up and sticking to a budget. Some 40 per cent of Britons between 35 and 44 years old - the age group most likely to have children - are said to find it hard to save money for the long-term, in comparison to a national average of 32 per cent.

And with the recent smoking ban coming into effect, giving up cigarettes was said to be easier for Britons to do than regularly saving money. According to the firm, one in five (20 per cent) claim that they would find it difficult to quit the habit for a six-month period. The study, which surveyed a total of some 2,000 people, also reported that 56 and 52 per cent of women respectively would find it hard to stick to going on a diet or exercising regularly for longer than six months.

However, in a study conducted by Investec Private Bank earlier this month, less than a third (29 per cent) of savers were reported to be unaware of how much interest they are generating on the money they put aside each month. Although 19.3 million Britons are reported to regularly save money, only one out of five respondents know the exact rate they receive. The findings also suggest that despite the Bank of England increasing the base rate of interest five times over the last 12 months - a move further pressurising consumer' ability to make secured loan repayments - an estimated 10.2 million people with savings accounts are not making full use of the rises to bolster the amount of money they are putting away.

As a result, this led to Linda McBain, head of banking for the financial company, to claim that millions of Britons are "potentially missing out on substantial returns over the course of a year" - which in turn could see them develop financial difficulties in later life. The study reported that those with savings of at least 25,000 pounds may be missing out on hundreds of pounds in interest by choosing uncompetitive schemes.