Saving money can improve sleep, a new report suggests.
Putting aside a certain amount of money every month, no matter how small, helps people relax and be more optimistic about the future, according to a study by scientists from the University of Bristol.
People who earn less and save regularly are almost as satisfied as the rich who don't save, scientists say.
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A quarter of adults in the UK have less than £100 (about €120) in savings, surveys have shown.
Due to the sudden jump in the price of food and utilities, it has been difficult to save money in recent years, even though bank interest rates have risen.
It is estimated that six out of ten people have a savings habit, and charities say that putting money aside, even small amounts, improves financial resilience.
Saving helps people be less worried about money, less likely to have debt problems, and easier to cope with unexpected events, according to the report.
However, things are relatively complex and other factors also play a role, such as the amount of savings and life circumstances that change them.
The researchers took into account various studies, including one in which a thousand people were followed for ten years.
They stated that life satisfaction increases when saving and decreases when not saving.
However, other life events have a greater impact.
For example, moving and getting married improve mental well-being to a greater extent.
Losing a job or having children, in terms of costs, worsens mental well-being.
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What are the savings opportunities?
- If the money is termed for a longer period, higher interest rates may be available, but this option is not suitable for everyone
- Charities say it's important to have some money saved, however tight a budget, to cover unexpected expenses
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