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A recent survey done by Ally Bank claims that saving money can indeed have a significant positive impact on your well-being. The study which surveyed 1,025 American adults found that 38 percent who owned a savings account reported feeling extremely or very happy, compared to just 29 percent of those without a savings account.

Not surprisingly, having more money made people more happy. About 57 percent who said they were extremely or very happy had $100,000 or more in savings; 42 percent have $20,000 to $100,000 in savings; and 34 percent have less than $20,000 in savings.

And best of all, 84 percent said that having money saved up boosted their sense of well-being more than eating healthy foods, having an enjoyable job, or getting regular exercise. The reasons provided was that it helped them to face the unknown, provided peace of mind, makes them feel proud, and gives them independence.

[Business Insider]