People with low self esteem are less likely to make long-term investments, new research suggests.

A survey conducted by Aviva established a link between financial behaviour and self esteem, with those who have viable financial plans in place found to be happier, irrespective of how much they earn.

Of the two-thirds of Britons who said they had high self esteem, 85 per cent said they felt in control of their finances .

By way of contrast, 70 per cent of those with low self esteem acknowledged they are not on top of their monetary affairs and 76 per cent of the people in this group said they fail make long-term investment decisions.

This study shows a strong link between financial behaviour, self esteem and happiness, and proves that those with sensible financial plans in place are happier overall, commented Aviva marketing director Gary Price.

By understanding the psychological impact of money and by helping people to face their financial fears, we can hopefully pave the way to happiness - whatever their bank balance says.

Meanwhile, a separate Aviva investigation shows that 63 per cent of Britons feel happier now than they did five years ago.