More than a third (35%) of Scots have experienced a financial shock during the pandemic, seeing their average household income decrease by £430 per month on average.
Analysis from money management app Yolt revealed that 54% have not taken action to protect themselves from any future financial shocks.
Almost a third (28%) of adults in Edinburgh have reported financial trouble, with that figure almost doubling in Glasgow (43%).
The figures were calculated by dividing the number of people that have experienced a financial shock because of the pandemic by the total sample - using Office for National Statistics data - then multiplying this by the country's adult population.
Yolt also commissioned Opinium Research to survey 2,001 UK adults at the end of January, finding that 19% of people had seen their income decrease and 11% have been furloughed during the pandemic.
In responses to these shocks, 34% have dipped into their savings and 26% have turned to credit card spending.
Of those in Scotland that have taken steps to protect themselves against potential future financial shocks, nearly a quarter (22%) have reviewed all outgoings to see where they could make cutbacks, 14% have cancelled subscription services and 13% have begun putting money aside.
Pauline van Brakel, chief product officer at Yolt, said that the UK was experiencing a widening wealth gap, with some people able to save during this period, as the opportunity to spend has declined, while others have suffered a significant reduction in income.
“With the UK still experiencing great levels of uncertainty there could be further financial shocks on the horizon for many – especially with government support schemes such as furlough due to come to an end in the coming months.”
Don't miss the latest headlines with our twice-daily newsletter - sign up here for free.
