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We’re spending more of our earnings on doing things rather than buying things, a new survey reveals

Today’s workers are more likely to spend their wages on experiences rather than material things, according to new research

When asked what they spent their earnings on, almost two-fifths* (38%) of the people surveyed listed activities such as holidays, socialising and concerts.  Meanwhile, fewer than three in 10 (29%) splashed their cash on items such as clothes and make-up. Respondents also listed essentials such as household bills, food and petrol.

The findings also found that more than three in five (62%) workers spend their wages, while fewer than two in five (38%) save.

Short-term recruitment specialist RedWigWam carried out the research to learn more about the spending habits of its workers and whether they were ‘spenders’ or ‘savers’.

Lorna Davidson, CEO of RedWigWam, said: “The findings provide an insight into the spending and saving habits of today’s workers. They show that many prefer to use their earnings to pay for experiences rather than buying things.

“From holidays to trips to the cinema, we love ‘doing things’, and there’s even a name for this trend: the ‘experience economy’.

“Perhaps this is a sign we’re becoming less materialist because we get a greater sense of fulfilment from activities like watching our favourite band perform live than buying the latest designer handbag.”

RedWigWam surveyed around 100 of its workers across the UK, aged from 16 to 73-plus.

When asked what they last saved up for, again holidays proved a popular choice, with 46% listing this activity. And one of the respondents revealed they had saved up for concert tickets for a whole UK tour.

Experiences also featured heavily when it came to how the workers chose to treat themselves. Activities listed included spa treatments, trips, parties and nights out.

Lorna said:  “We help people earn the money they need to keep their finances on track or pay for their favourite experiences, whether that’s a weekend away, tickets to a sporting event or a spa day.

“It can be hard for people to find jobs that fit in with their families, university studies or other commitments. But at RedWigWam we specialise in matching short-term, flexible and ad-hoc positions to workers from a variety of backgrounds, from parents with young children to students and the recently-retired.

“People simply register on our online platform and let us know what they’re good at. Jobs are then matched on a first come, first served basis, based on location, time available and skills.

“And the best bit is they’ll receive what they’ve earned 24 hours after their timesheet has been approved.”

To join RedWigWam, visit our website: www.redwigwam.com