It seems that the recession may not have taught people a lesson in how to save effectively, if the results of a new survey are anything to go by.

Scottish Widows found that 56 per cent of people have either failed to meet or exceed their savings targets which they had set themselves over the past year.

Furthermore, there has been a rise in the number of Britons failing to put anything away at all, increasing from 20 per cent in 2009 to 37 per cent in the present day.

Iain McGowan, savings expert at Scottish Widows, said: "The downturn of the last two years has adversely affected the finances of many households whether through reduced earnings, increased everyday expenses or debt repayment."

He highlighted that as a result of this, people have needed to work harder in order to obtain their money.

Of those questioned, 40 per cent identified that they had not been saving enough for the long-term, showing that people are aware that their finances need to be sorted out.

"While it is encouraging that many people have met or exceeded their savings goals, the proportion of people saving nothing has doubled from the previous year, highlighting how much still needs to be done to get the nation saving," Mr McGowan emphasised.

More than two-thirds (67 per cent) of the survey's respondents said a lack of funds was the reason behind them not saving, with day to day living costs the main strain on their personal finances.

This follows a recent study from HSBC and Personal Finance Education Group, which found that children are more aware of money as a result of the recession.

Conducted by YouGov, the poll found that 34% of children have overheard adults saying they cannot afford to purchase something due to the economic climate.