A new survey reveals that saving even a small amount each month can improve a person’s mood and financial outlook. In the survey by UK-based National Savings and Insurance, the average amount respondents said they need to save to feel happier is £50 a month — which is about $79 Canadian or just $2.74 a day.
Could you save $2.74 a day? I know I could. That’s less than the cost of a latte or the amount you’d save if you turned your heat off for a few hours a day. And the payoff seems worth it — less worry and anxiety about finances, improved well-being and being in more control of your savings.
Here’s a list of what some people are doing to save just a little bit more each month:
Cutting out meat from meals a few times a week
Planning ahead before shopping and using discount cards or vouchers
Buying items that are on sale
Collecting loose change
Buying in bulk
Putting aside a portion of earnings in a savings account every month
Finding ways to save money on transit, such as with carpooling
Growing their own vegetables and fruit
Giving homemade gifts and cards
Do you agree with these findings? Do you think saving $80 a month can increase your happiness?