Saving small amounts improves sleep, study suggests

It’s pretty common knowledge that money is a cause of stress for many people, and that stress can impact sleep. However, a study from the University of Bristol has suggested that saving just a small amount can lead to better sleep.

Reasons behind the findings

Some of the reasons touted in the report include savers becoming less anxious about money, less likely to experience problem debt and better able to cope with unexpected events.

The report suggested that among non-savers, 72% reported their sleep quality to be “very” or “fairly” good. This rose to 78% for those who regularly save, no matter how much they were putting away.

In the UK it’s estimated that a quarter of adults have less than £100 worth of savings. Interestingly, the report claimed that regular savers on low incomes have similar life satisfaction levels as richer non-savers.

It has been a very challenging time to save for many in recent years, with rising bills and prices across a range of products and services. On the bright side, if you can put money aside to save there have been good opportunities in terms of interest rates on savings accounts.

How to save

Loyalty often isn’t rewarded when it comes to savings accounts; they often have the worst interest rates.

It’s not a one-size-fits-all, and the best savings account for you is dictated by your individual circumstances.

You can get more interest on your savings if you lock your money away for longer, but again whether or not that works for you will depend on your circumstances.

We’ve published a number of blogs on money-saving tips, including our May post.

Closing thoughts

Most people know the importance of saving, but it’s becoming increasingly clear that putting money away can improve your health.

Get in touch if you’re looking for the best ways to save and move towards your financial goals.