Here’s something rarely seen: a hopeful study about money.
Researchers at the University of Arizona found that practicing good financial habits has a positive impact on multiple areas of our lives, not just our bank accounts.
People who follow a budget, save money, and shop less report lower levels of stress and anxiety, better physical health, and a greater sense of overall well-being.
In particular (and not surprisingly), the study found these individuals are more likely to feel in control of their lives, with greater satisfaction with their financial situation.
Meanwhile, many other surveys find between 70 – 90% of Americans feel stressed or anxious about their money. This includes people with high incomes and net worth.
90% of Americans say money impacts their stress level; 40% report they are currently taking no notable steps to secure their financial future.
– CNBC,
An antidote to financial anxiety
Here at Tiller, we’ve talked with thousands of the 70,000+ people who have installed our service to pinpoint their expenses, improve their spending, and increase their savings.
And when we analyze this customer feedback, it’s amazing how people’s lives transform as soon as they begin to engage with their money.
Even before they reach their goals. Even when their goals seem far out of reach.
Their first win comes from knowing their actual spending. This builds confidence that can lead to even bigger wins, including paying off debt and increasing savings.
But to borrow a phrase from the University of Arizona survey, the ultimate benefits of feeling engaged with your money are “beyond the realm of personal finance.”
Or as we say at Tiller, money matters because life matters more.
