Moneyboat recently conducted a survey to find out how Brits are spending their disposable income, with a clear focus on self-care and personal well-being. The findings show that a significant portion of the population is allocating their extra funds to beauty products, exercise, and other self-care activities, marking a growing trend in prioritising health and appearance.
The results also point to differences in spending habits based on age and location. Millennials, in particular, are leading the charge, while Londoners stand out with the highest levels of self-care spending.
Millennials are leading in self-care spending
The survey revealed that half of millennials are prioritising self-care more than any other generation. Among those aged 25 to 34, 22% are spending the majority of their disposable income on exercise, demonstrating a strong commitment to physical fitness. Meanwhile, 30% of this age group is directing the bulk of their discretionary funds towards beauty products, reflecting an emphasis on personal grooming and appearance.
These figures suggest that millennials place significant value on both looking and feeling good. They are investing heavily in activities and products that enhance their health, self-confidence, and overall well-being. Explaining this shift, Kristy Lomas, founder of The Ki Retreat, noted: “More people are choosing to spend their disposable income on self-care as they see it as an investment. Health is wealth, as they say.”
Beauty products capture the attention of 1 in 5 Brits
According to the survey, 20% of Brits are spending most of their disposable income on beauty products, underscoring a growing passion for self-care and personal pampering. This surge in spending on cosmetics and skincare products highlights the importance of appearance and the desire to feel fabulous among many UK residents.
According to Lomas, “things like the pandemic, watching parents age, and experiencing burnout in the working life are all reasons I have received from clients,” larger societal factors have influenced this trend. This reflects a broader movement towards prioritising well-being over material possessions.
Exercise remains a top priority
The survey also found that 15% of Brits are focusing their spending on exercise, highlighting a strong national commitment to health and fitness. Many are investing in gym memberships, fitness classes, and sports equipment, reinforcing the idea that staying active is more than just a routine for this segment of the population. For those prioritising exercise, it represents a crucial part of their self-care regime, offering physical benefits while boosting mental health and overall well-being.
Kristy Lomas sees this shift as part of a larger transformation: “People value time and experience more now, and there has been a shift away from material possessions. Slow living and meaningful experiences are what seem to drive people.” She also shared a personal experience from her Reiki practice: “One of my clients started coming to see me as they had a family history of strokes. They view Reiki and self-care as investments. They are looking after themselves so that they don’t have elevated stress levels, which could lead to a stroke in the future.”
Londoners top the self-care spending charts
Londoners emerged as leaders in self-care spending, with 19% of the city’s residents investing most of their disposable income in exercise, and 26% focusing on beauty products. This pattern suggests that Londoners prioritise their personal health and appearance highly, perhaps as a result of the city’s vibrant social scene and the pressure to present themselves well in both personal and professional settings.
Kristy Lomas pointed out that the effects of the Covid pandemic have played a role in this trend. “Covid taught us to value time together more and certainly increased the slow-living shift,” she explained, illustrating how the pandemic has reshaped spending priorities across the UK.
Brits still love dining out and holidays
While self-care spending is on the rise, the survey also highlighted other key spending habits. Dining out remains the most popular choice for Brits, with 50% of respondents using their disposable income to enjoy meals at restaurants. Following closely are holidays, with 47% of people directing their funds towards travel, showing that leisure activities remain a priority for many across the UK.
Hobbies are also a significant focus, with 36% of respondents choosing to spend on their personal interests. Clothing purchases came next, as 33% of Brits are directing a large portion of their disposable income towards updating their wardrobes. Home maintenance and drinking followed, with 30% of the population spending their extra cash on these categories. Additionally, 24% are spending on gifts, reflecting the importance of social connections and celebrations.
Beauty products came in eighth place, with 20% of the population focusing their spending on cosmetics and skincare. Following this were pet expenses, with 18% of Brits allocating a portion of their disposable income to their furry friends. Lastly, 16% of the population are choosing to spend their funds on subscriptions, illustrating the growing appeal of on-demand services and entertainment.
Lomas summarised the essence of the current self-care trend: “People realise they are happier and more successful when they fill their own cup. Success can come in the shape of work, relationships, and their own happiness.”
