#discretionary-spending

#discretionary-spending

According to the latest High Street Sales Tracker from BDO, retail sales in discretionary sectors grew by only 1.9% in February compared to the same month last year, highlighting a sluggish recovery in categories such as fashion, homewares, and lifestyle products, which may signal deeper underlying issues.

Remember that moment when you check your bank account and wonder where all your money went? Last month, I had one of those wake-up calls. After getting laid off and freelancing for four months, I thought I'd gotten pretty good at budgeting. But there I was, staring at my statement, realizing I'd somehow spent $847 on things I couldn't even remember buying. That's when it hit me: The problem was all those "normal" expenses that everyone just accepts as part of life.

While disposable income has risen, many UK households are making deliberate choices to prioritise long-term financial health over short-term luxuries. The steep decline in discretionary spending reflects this new mindset.