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Work bonuses 'spent on a variety of things'
23/03/2007
Boosting savings and going on paid-for holidays are the most popular ways to spend a work bonus, new research states.
The extra money is also regularly used for gift purchases and meals out, according to a survey from Birmingham Midshires.
The building society group also reveals that 29 per cent of workers received bonuses during the last 12 months.
Employees received an average pay-cheque reward of £1,758, which adds up to £24 billion across the UK workforce, the study shows.
Jason Robinson, director of savings operations for Birmingham Midshires, remarked: "We all know that it can be extremely tempting to spend a large one-off payment but the research found that over a third of people are squirreling away their bonus and we think this is a good start.
"It is important to shop around for the best rate when deciding where to put your hard earned cash and choose a competitive savings account."
The extra money is also regularly used for gift purchases and meals out, according to a survey from Birmingham Midshires.
The building society group also reveals that 29 per cent of workers received bonuses during the last 12 months.
Employees received an average pay-cheque reward of £1,758, which adds up to £24 billion across the UK workforce, the study shows.
Jason Robinson, director of savings operations for Birmingham Midshires, remarked: "We all know that it can be extremely tempting to spend a large one-off payment but the research found that over a third of people are squirreling away their bonus and we think this is a good start.
"It is important to shop around for the best rate when deciding where to put your hard earned cash and choose a competitive savings account."