A&L: Cheery Brits best savers

24 November 2005
Happy Brits are four times more likely to save than their less cheerful counterparts, says Alliance & Leicester.

In a survey, the bank found that three-quarters of Brits who described themselves as "very happy" saved, while half of people who said they were unhappy had no savings at all.

Conversely, those who saved more became happier, proving that money really can buy you happiness, says Alliance & Leicester.

"It makes sense that being prepared and having some money put aside tends to give people a sense of security and well-being; and our research reveals that not having any savings put by can cause unhappiness and concern," said Mike Woodward, savings manager at Alliance & Leicester.

"Although people often feel that there is something better to do with that little bit of spare cash, rather than putting a small amount aside into a savings account, the research shows that this could make us feel significantly happier," he added.

Those who saved regularly were found to be happier than those who saved on a more sporadic basis, while reasons for savings ranged from desiring financial security to wanting peace of mind.

A recent survey by Bradford & Bingley found 64 per cent of Britons do not save regularly, while one in five never put any money away for the future.

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