Money can't buy you happiness ...but saving it might
Saving money makes you happier than earning more, according to research by the Centre for Economics and Business Research. What’s more, the authors suggest that following a Nordic philosophy called ‘Lagom’, which promotes balanced living, shunning extravagance and focusing on things that really matter, can increase our sense of wellbeing and life satisfaction.
So how much saving can make us happier? Well the research suggests saving an extra 10% of your monthly pay increases life satisfaction more than being happily married, and the same as enjoying good health!
Why? It may be because saving can give you benefits beyond the money. These include peace of mind, the comfort of having funds for a rainy day and the positive feelings that come with moving towards your goals.
To find out more about Al Rayan Bank’s savings accounts, simply click here.