Research published by Heartwood Wealth Management suggests half of City workers intend to spend their entire bonus this season, and most of that on residential property.
While not publishing an estimate for the total City bonus expected this year, its survey nonetheless suggests 46% of those expecting a bonus intend to spend all of it, with 35% intending to spend and save, and just 19% intending to save it all. The top single priority is a holiday (26%), but the combined figure of 38% for expected future spending on ‘new home’ (22%), ‘home improvements’ (9%) and ‘second home’(7%) suggests a massive focus on property. And since this is money in the form of bonuses rather than expected income for day-to-day living, it seems likely the impact of the latest...
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