A third of people in this country are “very worried” about their finances.
More than half also have no pension, according to research commissioned by Bank of Ireland.
One in four would not last a month without having to borrow if they lost their main source of income.
The bank is spending €5m this year to roll out a financial literacy programme for customers and non-customers.
A survey of 2,770 people the bank commissioned from Red C found the country has a national financial wellbeing score of 61.
This means that as a nation we are managing financially, but not thriving.
A quarter of those struggling are classed as high earners, so-called ABC1s.
The research found that what people earn does not determine how they cope financially, but how they use the money. Half of consumers do not feel confident about managing their money.
Many people feel financial advice is relevant only to those with large amounts of money to invest, something that money experts would question.
Around one-in-five consumers admits to being regularly overdrawn. The majority of those surveyed said that they hold some form of loan, with one in four saying they have two loans.
“Financial wellbeing is about what you do with your pot of money, not the size of it,” said Gavin Kelly, chief executive of the retail division of Bank of Ireland.
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