Saving money improves sleep and wellbeing, study finds

Saving money improves sleep and wellbeing, study finds
Photo credit: bristol.ac.uk

A recent study by Bristol University has revealed that saving money regularly can significantly improve sleep and overall wellbeing, reports Kazinform.

The research suggests that setting aside a small amount each month helps people relax and fosters a more optimistic outlook on the future.

The study, based on a comprehensive review of existing evidence and new analysis from the Understanding Society survey.

Interestingly, the report indicates that the improvement in wellbeing associated with saving remains significant even when compared to other major life events such as job loss or moving house. Additionally, regular saving has a more substantial impact on the wellbeing of individuals with lower incomes and working-age adults compared to older adults.

The mechanisms through which saving money enhances wellbeing include reducing the need to borrow, preventing financial hardship by having a reserve of funds, and building financial resilience to meet future financial goals.

The study underscores the importance of rewarding the habit of saving rather than the balance itself, suggesting that even small amounts saved regularly can lead to significant improvements in wellbeing.

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