{"id":91483,"date":"2024-07-09T23:18:15","date_gmt":"2024-07-09T23:18:15","guid":{"rendered":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/07\/09\/saving-money-regularly-helps-you-sleep-better-academics\/"},"modified":"2024-07-09T23:18:15","modified_gmt":"2024-07-09T23:18:15","slug":"saving-money-regularly-helps-you-sleep-better-academics","status":"publish","type":"post","link":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/07\/09\/saving-money-regularly-helps-you-sleep-better-academics\/","title":{"rendered":"Saving money regularly helps you sleep better – academics"},"content":{"rendered":"
\"Saving<\/div>


\n<\/p>\n

\n
\n
\n
\n

\n

By\u00a0Kevin Peachey,\u00a0<\/span>Cost of living correspondent<\/span><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

\n
\n
\"GettyGetty Images<\/span><\/div>\n<\/div>\n<\/figure>\n
\n

Saving money regularly can help improve sleep, a new report suggests.<\/p>\n

Putting a monthly amount aside, however small the sum, also helped people to relax and be more optimistic about the future, the study by academics at Bristol University found.<\/p>\n

Regular savers on low incomes have similar life satisfaction levels as richer non-savers, they said.<\/p>\n

A quarter of UK adults have savings of less than \u00a3100, surveys have suggested.<\/p>\n<\/div>\n

\n

Saving money has been tough in recent years, owing to sharply rising bills and food prices – even though the interest paid by banks and building societies has improved.<\/p>\n

An estimated six in 10 people have a savings habit, and charities argue that setting money aside – even when on a small income – improves financial resilience.<\/p>\n

Now the report by Bristol University’s Personal Finance Research Centre has suggested regular saving leads to improved life satisfaction, even if only a small amount is set aside.<\/p>\n

The report suggested this was the result of being less anxious about money, less likely to experience problem debt, or being better able to cope with unexpected events.<\/p>\n<\/div>\n

\n

The picture is relatively complex, with other factors at play including whether savings had already been built up, and changing circumstances for different age groups.<\/p>\n

Researchers considered various studies, including one tracking the savings of thousands of people over a 10-year period.<\/p>\n

They suggested an improvement in life satisfaction from saving, but also a detriment when not saving.<\/p>\n

However, other life events had a bigger impact. For example, moving home or getting married improved mental wellbeing to a greater extent. Losing a job or having children created a relatively larger mental wellbeing deficit. <\/p>\n<\/div>\n

Returns expected to fall<\/h2>\n<\/p>\n
\n

Interest rates paid by savings providers have improved during a period of higher interest rates. <\/p>\n

At present, the average easy-access account pays interest of 3.12%, according to the financial information service Moneyfacts. Locking money away for a year carries an average return of 4.65%.<\/p>\n

However, returns are expected to become less generous when the Bank of England reduces benchmark interest rates. A first drop could come in August.<\/p>\n

Andrew Gall, head of savings at the Building Societies Association, which funded the research, said: \u201cWhile we appreciate that some people simply won\u2019t be in a position to save right now, these report findings show why everyone should be encouraged to save a little, if they can, when they can.”<\/p>\n

The report said providers should make savings accounts simple, flexible and use incentives to get customers to save.<\/p>\n<\/div>\n

\n
\n
\"Tackling<\/div>\n<\/div>\n<\/figure>\n

What are my savings options?<\/h2>\n<\/p>\n
\n