35% of Brits spend most of their disposable income on self-care

New data has revealed that many Brits are choosing to spend most of their disposable income on self-care and personal wellbeing.

A new survey by Moneyboat suggests that a significant portion (35%) of the population is dedicating their extra funds to areas like beauty products, exercise, and other self-care activities.

It highlights the growing trends among various demographics, with notable differences in spending habits based on age and location.

The data shows that 20% of Brits are choosing to spend most of their disposable income on beauty products, highlighting the growing passion for self-care and pampering in the UK.

As part of this, it found that Londoners allocate a significant portion of their disposable income to self-care. In fact, 26% spend the majority of their discretionary funds on beauty products.

Meanwhile, 50% of millennials are prioritising self-care more than any other generation, with 30% of this age group choosing to spend most of their discretionary funds on beauty products.

These findings suggest that millennials place a high value on both looking good and feeling good, investing heavily in activities and products that enhance their overall health and self-confidence.

It comes as Gen Z consumers are favouring simple skincare routines, according to a recent survey by Tropic Skincare that explores the biggest skincare mistakes being made by this demographic.

The data also suggests that not only do 38% of Gen Z feel overwhelmed when buying skincare but 1.9 million Gen Z in the UK are spending between £200-£249 on products each year.