Saving for peace of mind: The simple habit that improves your wellbeing

It’s official: Saving money = better wellbeing

We’ve always believed it, and the University of Bristol has the data to back it up

At Loqbox, we think financial wellbeing starts with the small stuff. Tiny positive actions, repeated often, pave your path to a richer life. 

Helping people build great financial habits and feel more confident about money is what we’re all about. So we were excited to learn that the clever folks at University of Bristol have proven the importance of saving (Evans, J & Davies, S, 2024). According to their study, people who save regularly: 

• Have higher mental wellbeing scores 
• Are more optimistic about the future 
• Sleep better at night 

Why? Because saving creates a mental buffer. A sense of control. A bit of breathing space. It’s not just about the numbers, it’s about building peace of mind.

Peace of mind > income

Here’s something that might surprise you: a regular savings habit could have a bigger impact on your wellbeing than a higher salary.

The study shows that low-income savers reported similar levels of life satisfaction to non-savers with much higher incomes. In other words, how you manage your money matters more than how much you earn.

Let that sink in: even if money feels tight, putting away a little bit regularly can help you feel calmer, more in control, and more able to handle whatever life throws at you.

It’s not about perfection, it’s about progress, and it starts with a single step.

How saving benefits your wellbeing

So, why does saving money make us feel good? Let’s dive in.

What the research says (and how it applies to you)

Having a savings pot doesn’t just help you financially — it supports your health and wellbeing too. 

Here’s what the data tells us: 

• You’re less likely to need to borrow money — reducing debt stress and costly interest payments. 
• You’re more likely to stay on top of your bills — helping you maintain a strong credit score and avoid late fees. 
• You’re less vulnerable to financial surprises — because life happens. 

As the study puts it:

“While 12% of people who hadn’t saved in the past ten years were behind on their bills, that number dropped to just 2% for people who managed to save every other year.”

Even saving now and then made a difference — because it’s the habit that matters, not the number. When you begin to save, you make a commitment to your future self: “I’m planning for my future — and I’ve got my own back. My money, my moves.”

How saving helps you achieve your goals

Saving regularly doesn’t just mean creating peace of mind today — it gives you the freedom to plan for the future you actually want. 

According to the University of Bristol study, saving builds financial resilience and helps you shift your mindset from “just getting by” to “planning ahead” — and that’s powerful. Looking at it another way, saving becomes budgeting in action. 

Take this stat for example: 82% of young adults who saved regularly over 10 years went on to buy a home, compared to just 15% of people who didn’t save. Even saving a little, some of the time, made a real difference — those who saved during one or two years of the decade-long study were three times more likely to become homeowners. 

The takeaway? Small, consistent habits now can lead to big life milestones later.

Build your financial wellbeing with Loqbox

Saving should support your wellbeing, not stress you out

We get it. Saving doesn’t always feel easy — especially when life feels busy, bills keep coming, and the cost of literally everything feels like it’s going up. We built Loqbox to help everyone enjoy a happier, healthier relationship with money: by strengthening your credit history, your financial know-how and your savings. 

We believe great new financial habits should make life feel easier, not more complicated. That’s why we offer our members simple, straightforward ways to build their credit and make moves towards a brighter financial future. 

Improvements to your credit score are not guaranteed.

Grow your savings, your credit and your confidence all in one place

Since 2017, we’ve helped more than 1,000,000 people start their journey to a richer life. 

When you join Loqbox, you’re not just building your credit and saving, you’re building your financial fitness: we’re proud to say that 80% of our members feel more knowledgeable, motivated, or confident about money. (You don’t have to take our word for it, hear it from our members on our reviews page). 

Ready to get started? Great habits start with a simple step. Find out how to achieve your savings goals with Loqbox today. 

Improvements to your credit score are not guaranteed. 

Reference list

​​Evans, J. and S Davies. “Understanding the role of savings in promoting positive wellbeing.” Personal Finance Research Centre, University of Bristol, 2024. https://www.bristol.ac.uk/media-library/sites/geography/pfrc/documents/Understanding%20the%20role%20of%20savings%20in%20promoting%20positive%20wellbeing.pdf (accessed May 2, 2025).