Doubtful on the latter: most employed people spend more than 80% of their income and most employers would not be willing to increase their rate of pay by 25% (especially now, with salaries increasing below inflation).
Although it's often claimed that trade unions were instrumental in reducing the work week to 5 days, I'm curious to know what their stance would be on this now.
Weirdly I've ended up spending a lot less money during the times of my life I've been in situations that allowed me to work 3-4 days a week.
Partly in that I didn't have to pay other folk to do stuff I'm happy to do myself when I have the time... the other factor is that the absence of free time brings out an annoying tendency in me to try and make up for it by spending money on stuff I really don't need!