Brits spend just 8% of their earnings on things they want

The British public struggle to spend their earnings on enjoying themselves, according to new reports. A study commissioned by airport transfers provider Hoppa revealed that most of our money ends up going straight into the bare necessities rather than the finer things in life, and when it comes to treating ourselves we find it hard to part with the hard-earned cash.

Around two thirds of workers spend most of their monthly earnings on outgoing expenditure and barely anything on just having fun. With Brits already admitting they don’t get enough fun in their lives, workers are likely to over-spend when they let loose. When on holiday, Brits are expected to spend five times more on themselves compared to a typical month at home.

Women were half as likely to use their bank cards abroad, which incurs additional charges, while 30% felt that the expectation of souvenirs and gifts for friends back home is leaving an unexpected dent in their wallets, which could be why many are opting to stay local this summer. Brits in their mid-30s to 40s were most likely to save the most for their holidays, yet they were still 40% more likely than any other age group to get caught by hidden fees.

UK workers are expected to save for their holidays five months in advance, yet within a week most will go over budget. Often down to exchange rates and surprise inflation, holidaymakers abroad will find themselves spending 30% more than expected on everything from car rental to entry fees to attractions. Around a quarter of respondents admitted they return from their trip feeling ripped off, and Hoppa believes it’s down to the small expenses that go under the radar.

“It’s interesting to see that we become so lenient with our spending when we’re abroad, considering how strict we are the rest of the time,” explained the team at Hoppa. “Just goes to show that even with a budget break, it’s the little things that add up.”