With 30 days until the October 31 Brexit deadline, the number of Brits saying they have put off a big financial decision has risen to one in five (19 per cent) – equal to ten million people.

The major outgoings currently on ice for one in five people include booking a holiday (38 per cent of those who have put off making a big financial decision), buying a new home (34 per cent) and buying a new car (23 per cent), the latest quarterly ‘Brexit and personal finances’ survey by YouGov on behalf of Royal London, the mutual insurer, has found.

Overall, 36 per cent of Brits – around 18 million people (as calculated by Royal London using ONS figures) – think their personal finances will get worse once the UK leaves the EU at the end of this month, up from 32 per cent in November 2018.

As a result, more are choosing to try and do something about it, with the proportion of people saying they have made changes to their personal finances ahead of Brexit rising from 8 per cent six months’ ago to 11 per cent now. A reduction in spending, an increase in savings and a decision not to go on holiday this year are the most likely courses of action taken by those making preparations.

A rise in the cost of food, a fall in the value of the Pound and a rise in the cost of energy are the chief concerns among those who think their personal finances are set to worsen after the UK departs.

Becky O’Connor, personal finance specialist for Royal London, said “Millions of people are rejecting the old adage of ‘keeping calm and carrying on’ and instead opting for caution and waiting for the outcome before moving on with their lives.”

“With so much hanging in the balance, it is hard to blame those who choose not to commit a large amount of money to a new purchase. The research shows the lives of the Great British public are literally on hold, with new homes, cars and holidays all delayed. Some may perhaps be expecting a buying opportunity for their next house purchase in the coming months.”

“As the Government and business ‘Get Brexit Ready’, Royal London is urging people to do the same with their finances, as far as possible.”