While there are plenty of people who will head to the nearest mall, or online store, when they feel down to engage in a little retail therapy, it turns out not spending that money may make them feel a whole lot better.
A new poll finds:
- Two-thirds of Americans say saving money makes them happier than spending it.
- Cutting discretional spending like shopping is the thing most people are willing to do in order to save $100 a month (43%).
- Other ways to save money include adding another source of income (27%) and reducing saving priorities (17%).
- 39% of consumers say they are prioritizing savings this year compared to 23% last year.
And it seems money in general is causing folks a lot of stress. According to the poll:
- 45% of the population is constantly worrying about money.
- More people lose sleep over money (32%), than relationships (20%), work (15%), and fear of missing out socially (4%).
Source:CIT Bank