You are here: Home - Investing -

The price of happiness rises

Written by:
The amount in savings we now need to feel secure has increased.

The amount of savings needed to be happy has increased, according to the latest research by investment specialist Skandia.

Just over two out of three (64%) people surveyed in April said savings of up to £5,000 would make them happy, compared to four out of five (82%) in 2010, a drop of 18%. The results show that between £10,000 and £20,000 in savings is now required to give as many people peace of mind.

While people are keen to increase their savings, the amount of income they say they need to be happy is relatively modest. Over a quarter (26%) would be really happy with less than £25,000 a year and almost two thirds (62%) would be really happy with an annual income of £50,000 or less.

Graham Bentley, Skandia UK’s head of investment proposition, said: “The rise in the cost of living, uncertainty with the economic climate and talk of recession is clearly making people wish they had a larger nest egg than they might have considered necessary before. However, the amount of annual income they need to make them happy is surprisingly modest, possibly because rising unemployment is making them put more value in having a job that provides predictable income.”


Tag Box




Financial fitness

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Are you a first-time buyer looking for a mortgage?

Look no further, get the help you need by searching for your perfect mortgage

Which ISA is right for you? A round up of the six products available in 2017

From cash to innovative finance to lifetime, here's our guide to the ISA products available to savers this yea...

Guide to buy-to-let tax changes

In late 2015, former Chancellor George Osborne announced a range of  tax measures aimed at landlords, which t...

A guide to switching energy provider

All you need to know about switching from one energy supplier to another.

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Five fund tips for a 0.25% interest rate environment

With interest rates stuck at a record low 0.25% and expectations rates could fall to close to zero, here are ...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Investing your money

Alliance Trust Plc gives you smart insight into how to invest your money

Money Tips of the Week

Read previous post:
Cost preventing Brits from visiting the dentist

More than a fifth of the nation claim they cannot afford trips to the dentist.