Brits are guilty of spending too much too soon after payday - with the average adult splashing out over £600 within just three days of receiving their wages
The average employee spends more than a third of their wages – on payday, research has found. A poll of 2,000 employed adults found they are quick to splash out on treats such as clothes, tech, and home furnishings, as more than £600 leaves their banks within three days of arriving.
The study was carried out by the video game developer, PLAION, to mark the launch of its new heist video game, PAYDAY 3. As Londoners struggle the most with money management, the developer set up a challenge inspired by the game – with winners taking part in their own “heist” and securing a “month’s salary”, by stripping notes from a branded van.
The research also found those aged 18 to 24 spend the most on takeaways each month, compared to those aged 65 and over – £42 vs £13. And 37 per cent of adults admitted to being guilty of over-spending at the start of the month, meaning they have to keep their purse strings tight for the remaining days.
However, 41 per cent have a tendency to buy things that aren’t really necessary to their life – with an average of nearly £60 a month spent on these items. For 21 per cent, a TV package like Sky or Virgin is seen as an expense they could probably live without, while the same percentage could do without takeaways – and one in four believe they spend more than they really need to on clothing.
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