Jasmine Birtles
Your money-making expert. Financial journalist, TV and radio personality.
You’re happier saving than spending
Jasmine Birtles
20th Mar 2020
Three times as many people are happier when saving money (11%) than spending it (4%) according to a survey we’ve just received from the people at Freeview.
It’s nice to hear it, because it’s something I’ve been saying for years. Yes, of course, spending on some things here and there is fun. There are also lots of things we have to spend on, and it would be miserable if we could not afford them.
However, psychologists keep telling us that actually, once we switch our thinking over to the benefits of saving, we’re genuinely happier not spending than when we’re spending.
Having to cut back is not the terrible, life-threatening problem that so many would make it seem.
Other findings of the Freeview survey are:
- Brits plan cutbacks of nearly £200 each on average over next six months
- Almost half the population (46%) will make budget cutbacks in next six months
- Nearly three quarters of Brits (71%) are preparing a lifestyle change during age of austerity
- 6 out of 10 respondents (61%) are planning to cut back on Christmas costs with 40 per cent set to slash spending on presents
- Nearly half the nation still believes that the best things in life are free (45%)
It’s true too. The best things are free. Check out our freebies section to find out!
Considering the recent impact of coronavirus on the nation, many people are becoming more aware of their finances than before. I think that it’s easier to save if you know that your neighbours are doing it too!
I don’t think this tricky time will be as miserable as everyone says.
In fact, I bet you a homemade jam doughnut it’s going to be happier than the last decade. Seriously!
ALSO READ:
HELP TO SAVE: £1200 TAX-FREE CASH FROM THE GOVERNMENT!
HOW TO STOP CORONAVIRUS RUINING YOUR HOLIDAY
Saving is a good habit to have but the reward of saving in terms of generating more income in the form interest is gone. so savings are unable to give big bonus or generate more income.
I’m so much happier now than I was when I constantly overspent and was dipping in and out of my overdraft the whole time. So I think this research makes total sense!
That’s so good Annie. Well done for getting to that stage. I know what you mean – it’s a really good feeling to be ‘in control’ and only spending what you have! Keep at it 🙂
If this is true then it must be best if you can spend money and save at the same time? I saved and spent at Partyman. I saved 20% by using the discount code ENTERTAINER but I bought my children a little treat as well.