Amid the cost-of-living crisis, over eight in 10 Brits (82%) have reduced spending on fun activities or treats for themselves, otherwise known as their “Fun Fund”, despite 27% agreeing it’s good for their mental health, according to new research.
The data by the UK’s most-trusted savings site, VoucherCodes.co.uk, looks at the nation’s spending habits following increased living costs, gloomily revealing one in five Brits are unable to afford spending on self-care and having fun, with over half (51%) unable to put any money aside for themselves.
Breaking this down by generation, Gen X, those aged 45-54 years old, are feeling the impact on their self-care funds the most, with 26% unable to spend any money on themselves by way of beauty treatments, meals out or theatre tickets.
Contrastingly, Boomers (aged 55+) are least impacted with just 17% stating they are no longer able to spend any money on themselves, and a quarter (24%) saying that the cost-of-living crisis has had no impact on such spending.
With this in mind, on average Brits are now spending 33% less (£75.72) on fun activities or treats compared to the £122.26 spent each month in late 2021 when the cost-of-living crisis started.
When further examining current spending habits, Gen Z’s (18-24-year-olds) are seen to be treating themselves the most, spending £92.86 each month – 23% above the British average. Furthermore, there is a clear difference between genders when it comes to spending on such activities, with British males spending 34% more than their female counterparts.
A regional breakdown showcases that residents in Edinburgh are treating themselves the most, spending an average of £96.64 each month. In contrast, those in Plymouth are spending just £37.67 – 50% less than the national average.
Top three highest spending cities on fun activities or treats for themselves
| Rank | City | Average Monthly Spend (£) |
| 1st | Edinburgh | £96.64 |
| 2nd | London | £96.44 |
| 3rd | Bristol | £90.25 |
Bottom three lowest spending cities on fun activities or treats for themselves
| Rank | City | Average Monthly Spend (£) |
| 20th | Plymouth | £37.67 |
| 19th | Cambridge | £43.33 |
| 18th | Aberdeen | £47.65 |
When exploring exactly what treats and activities Brits have had to reduce, over half of respondents mentioned takeaways (54%) and meals out (53%), with a third (36%) selecting weekend getaways/spa breaks.
Anita Naik, Savings Expert at VoucherCodes.co.uk, commented: “The ongoing cost-of-living crisis is continuing to shape and impact our daily lives. It’s becoming increasingly difficult to manage our budgets and spending on self-care and treats for ourselves is often the first thing to be cut when money is tight. However, it’s important that we continue to treat ourselves every now and again, whether that’s cooking yourself your favourite meal, or enjoying a pamper night after a long day’s work. This way you can look after both your bank balance and your mental health.
“If you’re looking for ways to treat yourself without breaking the bank,VoucherCodes.co.uk has a range of offers available on fun activities, meals, beauty and wellbeing essentials. As the UK’s most trusted discount site, all offers are hand tested daily to make sure you’re getting the deal you’ve been promised.”
