Around nine million more adults are struggling with money compared to seven years ago, a report into the health of the nation's finances has found.
More than half (52%) of those surveyed are living on the edge, equating to 26 million people across the UK, Government-backed body the Money Advice Service (MAS) said.
This is a sharp increase from 35% of people who were having difficulty keeping up with bills the last time similar research was carried out in 2006.
The service found that many people are suffering from poor financial skills and the squeeze on families following the economic downturn has encouraged a "live for now" culture which is dragging down people's ability to save enough for their future.
Income per hour has dropped by 6% in real terms since the previous research was carried out, making it harder for people to make ends meet.
More than 5,000 people took part in the latest financial capability survey and more than 70 families were followed over the course of a year for the Financial Capability Of The UK report, which found "a general feeling that people worry about their ability to make it to the next pay day".
It continued: "And because of this, people are focusing more on the here and now than on planning for the future, including for unforeseen emergencies."
One in five people surveyed said they would rather have £200 now than £400 in four months' time. Two-fifths also said they would have to think about how they could cover an unexpected £300 bill and one quarter said they prefer to live for today rather than plan for tomorrow.
Caroline Rookes, chief executive of the service, said: "In theory, money management is easy - spend less than you earn and consider your future - but the difficulty comes when applying this to the real world."
A Treasury spokesman said: "We recognise that times are still tough for families, but Britain is holding its nerve, we are sticking to our plan, and the British economy is on the mend.
"The Government has taken continued action to help households with the cost of living, including cutting tax for 25 million people by raising the personal allowance and freezing fuel duty."
MAS, an independent body set up by Government, has a statutory objective to raise public understanding and awareness about financial matters. It is due to publish a strategy on how people can be helped to improve their finances next year.
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