In modern Britain even high earners feel stuck on a financial treadmill

High earners, including multi-millionaires, are increasingly turning to unconventional ways to pull together extra cash. Moving beyond a few side hustles, some are leveraging their luxury assets like high-end watches for short-term lending.

We have seen an increase of up to 300% of high-network clients offering their high-end designer Patek Philippe, Audemars Piguet and Richard Mille watches at our stores.

While the cost-of-living crisis is often associated with energy prices and inflation, another force has been reshaping spending habits for years.

Lifestyle inflation has become almost invisible as disposable income has decreased. A recent report from Deloitte even concluded consumer confidence has seen its biggest drop in four years.

What once felt like treats are now often considered commonplace: multiple streaming subscriptions, fitness memberships, and travel. Add those costs together, and many people are committing hundreds of pounds a month before they’ve even begun discretionary spending.

Accessibility to flexible credit has further blurred the lines. Buy Now, Pay Later schemes and easy-access credit options have normalised spending beyond immediate bank balances.

They rarely feel like debt in the traditional sense, but they can accumulate quietly and quickly, turning everyday consumption into a long-term financial obligation.

For some, this creates a constant sense of playing catch-up – as if they are on a financial treadmill with the pace consistently quickening.

Pawnbroking, in comparison, can help individuals needing immediate emergency cash without impacting their credit score, as it is a secured loan based on collateral rather than creditworthiness.

Social media can also intensify the pressure. Platforms filled with curated lifestyles can distort perceptions of what’s normal or achievable. Holidays, designer goods and milestone purchases are presented as everyday occurrences, adding to a subtle but persistent sense of falling behind.

Even those who are financially stable can feel inadequate when comparing their reality to a carefully edited reel.

This helps explain why financial anxiety persists well beyond those in immediate hardship. It is not purely about income, but about perception. The gap between what people earn and what they believe they should be able to afford has widened.

When that gap feels unbridgeable, it leaves people feeling increasingly unsatisfied, regardless of actual financial stability.

The rise in asset-based lending among wealthy individuals can be an extreme example of this dynamic.

When even those with significant wealth experience liquidity pressures, it highlights how modern financial life is less about total wealth and more about cash flow, perception and flexibility.

As multimillionaires pawn their watches to stay agile, it reflects that financial strain is no longer confined to any single income bracket.

Until expectations realign with reality, or spending habits adjust accordingly, the feeling of being financially stretched is unlikely to disappear, no matter how much incomes rise.

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James Constantinou, owner of Prestige Pawnbrokers, shot to fame as the star of Channel 4's Posh Pawn and is a leading expert in pre-loved designer goods.

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