In addition, putting aside even a tiny amount each month made people feel more at ease and upbeat about the future, according to a Bristol University study.
They found that regular savers on modest salaries are just as satisfied with their lives as non-savers who are affluent.
According to polls, 25% of persons in the UK have savings of less than £100.
Despite improvements in the interest offered by banks and building societies, saving money has been more difficult in recent years due to dramatically rising expenses and food prices.
Six out of ten people are considered to have a savings habit, and charities contend that saving money, especially on a meagre salary, increases one’s capacity for financial resilience.
Now, a paper from the Personal Finance Research Center at Bristol University claims that regular saving increases life satisfaction, even with small savings amount.
According to the survey, this could be because they are better equipped to handle unforeseen circumstances, have less financial anxiety, or are less likely to accumulate problem debt.
