Amount of money people need in order to feel financially secure

When it comes to finances, we all have a number we feel would make us financially secure.

But a recent study by the money management app Banktivity says the magic number to feeling secure is just over $80 thousand dollars.

Frivolous spending is something we are all guilty of. In fact, according to the survey, almost a third of Americans polled would run out of cash in less than a week if they were to lose their main source of income.

RELATED: 5 financial myths that just aren't true

The average person spends $140 dollars a month on things they don't really need. Which to some may not sound like a lot but actually comes to over $100 thousand dollars over an average adult lifetime.

The most unnecessary purchases are eating out and ordering takeout, needless groceries, online shopping, and alcohol.

Only 5 percent of respondents thought they were "financially savvy" but married couples gave themselves a significantly higher rating than single people.

A Banktivity spokesperson says: "Setting a clear budget and getting the right assistance in making smart investment choices will make all the difference."