Only 10% of people say they would invest if they were given £1,000 tomorrow, new research shows.
Consumers continue to be reluctant to invest their cash, with around 40% of people not holding any financial investments such as shares, bonds or Isas.
The Moneyfarm survey suggests that many lack the confidence to do so, with 17% of people saying this is the main reason they do not invest.
Some 14% of people say they do not understand how they would go about investing while 7% believe the costs of investment are too high.
Of those people who do invest, many choose to set aside a small amount each month to do so. The survey found 18% of people who invest contribute between £50 and £100 at a time.
Moneyfarm chief investment officer Richard Flax says: "There can be a whole range of factors holding Brits back from investing for their future, including growing credit card debt and an unwillingness to risk losses. But, as inflation continues to race ahead of wage growth, keeping your cash in a high-street savings account with negligible returns might not be as safe as you think.
"Many will say they’re too nervous to start investing. If you’re nervous, start small. It’s better than not starting at all. The most important thing is that you start the habits that will lead to a financially healthier you - much like eating your five a day. And the longer you invest, the more likely it is you will benefit from compounding - when your returns earn a return.
"You don’t need a large amount of money to get started; investing little and often helps manage risk and is a great way to properly understand your personal comfort levels, by dipping your toe in the market.”
For investment ideas, check out Moneywise’s First 50 Funds for beginners.