The economic downturn has made many people re-evaluate their money matters, but young people continue to take financial risks.
Research from AXA shows there has been a shift towards a more cavalier attitude to finances in the second quarter of the year, with those in their twenties and thirties taking the biggest risks.
Of real concern is a relaxed attitude to funding their lifestyles on borrowing.
More than eight in 10 (84%) have a credit card, and while just 11% borrowed on their overdraft and 9% more borrowed on their credit cards or loans, the level of borrowing was higher than in other age groups.
And as well as increasing borrowing levels, young professionals are making less of an effort to put money into savings and paying down debts.
The number of young people paying more off their overdraft fell from 10% in the first three months of the year to just 6% in the second quarter of the year.
In addition, the proportion of young people paying more off their credit card and loan repayments fell from 30% to just 17% over the second quarter of the year.
"Caution must be urged against borrowing to make life more comfortable," AXA UK 's director of customer partnerships, Nick Turner, said.
At the other end of the spectrum, seniors are finding it increasingly hard to cover their costs in retirement and are being forced to dip into their savings to cover their day-to-day costs.
"We're seeing an enormous drop in confidence from those in retirement, for whom life seems to have become ever harsher as the country continues to face the task of tackling the enormous deficit," added Mr Turner.
"The result is that savings are being depleted or ignored, debts are mounting, and risks are being taken with assets as financial products are being scrimped on."
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