Since I'm running things in my campaign - yes and no...
There hasn't been a lot of treasure passed around, mostly because of the scope of the game were playing. However, the characters have access to services and favors that the average person doesn't (one of the characters is a crown prince and the partry is doing "dad" (the king) a favor by keeping his country from being overran by lizardpeople and other reptilian races. Dad is suitable happy and keeps the party well equipped as a result.
On the other hand, when the party has had to use the funds that they have, they in turn, like to ensure that the 'little people' are well taken care of, tips for information, services and goods, often paying higher than needed just so that the locals are happy. Even on personal pampering such as extravegant clothing and jewlery, the party wants to look the part so to speak as well as bashing in the bad guys skulls. A sorceress bought a dress that sparkles as if made of rubies (she was a farm girl) and the dwarven cleric just had the handle and shaft of his ornamental hammer studded with actualy ruby dust (the elven mage about passed out when he gave the rest to her for spell components (about 300gp worth)) /they have a somewhat stormy relationship[ - read, all but outright hostility/
Of course when it comes to campaigning, these guys are pros, they outfit for campaign better than Hillary on an Everst trek. They take wagons of extra gear, 'just in case', ammenities, miles of rope, extra provisions, rations for mounts, repair items (both tools and extra pieces), barrels of extra arrows, extra lamp oiol, Greek fire, alchemical supplies, even a portable shrine for the clerics and paladins.
So both; yeah I can live with that answer.