A study from Top Cashback said that 61% of people said they did not feel financially independent until they owned their own home and are no longer relying on their parents.

Almost a third (30%) said having a child signalled financial independence. Other popular answers included renting a flat (27%), paying for a wedding (24%) and buying a car (24%).

Living at home with parents was seen as a major barrier to financial adulthood by more men than women. However, more women are concerned about student debts holding their finances back.

Londoners felt less like they’ve reached financial adulthood compared to other regions, the report said.

Natasha Rachel Smith, consumer affairs editor for Top Cashback, said: “Our research shows Brits are being held back from financially feeling like an adult until they’ve reached key milestones such as buying a house, having children and paying for their wedding.

“To fast track to financial adulthood, everyone should think about implementing an early savings plan and take advantage of new schemes such as the Help to Buy ISA. There are also a host of new money-saving tools shoppers can use for one-off purchases and everyday spending.”