A call for firms to cut the financial jargon has been made as the public feels bamboozled by what is on offer.

Simon Howard, chief executive of the UK Sustainable Investment and Finance Association (UKSIF), believes that the failure by financial institutions to communicate clearly, as reported by 81% of the public, may make it more difficult to reach good money choices.

A YouGov poll of 2,155 adults - commissioned by UKSIF - also found that 77% of the British public think the Government should do more to report financial information clearly.

There were 45% of people who felt confused when receiving financial information while 27% said they would not be able to explain how an Isa works, 55% said they could not explain how a Credit Union works and 77% said they would have the same problem with a description for Sustainable Investments.

A total of 19% said they could not explain what a bank was.

In total 53% said they wanted more transparency about Government spending on energy infrastructure along with 46% who wanted the same in relation to climate change initiatives.

The poll also showed that financial options fall far behind sectors such as food, clothing and transport when it comes to making choices about sustainable and ethical living.

A total of 65% of people said that ethical food options were easy to find, and 38% found it easy to find ethical clothing options - compared to only 22% who said the same of financial services.

Speaking at the start of Good Money Week (19-25 October 2014), an annual campaign to raise awareness of sustainable, responsible and ethical finance to help people make good money choices, Mr Howard said: "If, as our research indicates, people don't feel completely comfortable with everyday financial terms and don't feel that the financial information they receive is easily understood, making informed decisions is virtually impossible."