Britons would spend more money on holidays above other luxuries if they had additional discretionary spending, according to research by wealth adviser Towry.
An estimated 53% of Britons chose holidays as their top 'lifestyle choice' to spend more on if additional money was available. Home improvements and buying new electrical goods were the next highest to spend more on, while 16% would spend more on socialising
In contrast, buying new electrical goods is the top 'lifestyle choice' that British adults would give up if they felt they needed to reduce their spending. Holidays and socializing are the next highest choices that adults would cut back on, while 17 per cent would cancel their gym membership.
Over half of Britons would be most prepared to spend more on holidays if they had additional finances available, according to Towry. Some 53 per cent of UK adults said that they would put any extra money towards going away, with a third (34%) saying that they would spend more on home improvements. See table below.

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Yet with many still feeling the pinch, nearly a third (30%) cited buying electrical goods as the main 'lifestyle' choice they would give up or cut back on, should they feel the need to reduce their current outgoings.
Andy James, advice policy manager, Towry, said: "For many, the financial downturn has led them to adapt their lifestyle choices, especially given the effects of inflation on non-essential items such as electrical goods and holidays, versus little or no rises in wages.
"Yet people may find that having a long-term financial plan in place gives them the confidence to know what they can afford to spend now and in the future. With cashflow forecasting, their finances are all mapped out for them; they don't need to guess."
Opinium Research carried out 2,010 online surveys between 30 January and 5 February 2013, amongst a nationally representative sample of UK adults aged 18 and over. Results have been weighted to a nationally representative criteria.
Towry is a wealth advice business employing approximately 650 people in 18 offices across the United Kingdom, managing £4.8 billion of discretionary client assets (as at 30 December 2012).