Managing finances can be stressful, with money woes a common cause of sleep disruption. But the secret of a good night’s sleep could lie within your savings account and how often you save money.
It’s easy to think that you’ll sleep better if you have the best mattress or the right sleeping environment but, according to a new study, saving money can help to improve the quality of the sleep that you get. Researchers at the University of Bristol, UK, found that putting a monthly amount aside each month, no matter how small the sum, helped people feel more relaxed, be more optimistic about the future and subsequently sleep better at night.
The study also found that those on low incomes who save on a regular basis have similar life satisfaction levels as richer, non-savers. It’s suggested that the improvement in well-being and benefits such as sleeping better come about because regular savers feel less anxious about money, feel better equipped to cope with unexpected events and are less likely to experience debt.
Key takeaways from the study:
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Saving money improves sleep: The study was taken over a period of 10-years and during that time they found a clear link between regular saving habits and improved sleep quality.
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Reduced financial anxiety: Researchers suggest that saving money reduces money anxiety by ensuring a savings pot for unexpected events such as a job loss or medical emergency, this reduced anxiety then leads to better sleep quality and a positive outlook.
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More savings better sleep: Although the study found that it didn’t matter how much you saved, those who saved a larger amount each month were more likely to say they experienced better sleep quality, a higher state of relaxation and were more optimistic about the future.
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Greater impact on lower incomes: The link between saving and sleep was found to be strongest among lower-income and working age individuals, highlighting the potential benefits for those most vulnerable to financial stress.
- Research cites the importance of rewarding behaviour: The evidence suggests that the habit and action of saving may be a key part of how it improves wellbeing.
The University of Bristol's Understanding Society study was commissioned by the Building Societies Association and found that the majority of evidence points towards a positive relationship between savings and wellbeing – most evidence found that those with savings, and those who save on a regular basis, are generally less anxious about money, and have greater life satisfaction overall.
How saving money can help you sleep
Bristol University has collected data over the last 10 years and have discovered that seeing your savings account grow, regardless by how much, is rewarding.
When asked, 72% of non-savers surveyed described their sleep quality as “very” or “fairly” good. This figure rose to 78% amongst those who save something on a regular basis, regardless of the amount that was saved.
The study also showed that regular saving may have a bigger impact on wellbeing for working-age adults and those on lower incomes. This is down to removing the need to borrow and therefore eliminating debt, having pot of money to draw on in case of emergencies and being able to build positive money management behaviors to meet a variety of financial goals.
However, when asked, a larger proportion of participants who were able to save at least $650 (£500) per month reported experiencing good sleep, feeling more relaxed, and having a positive outlook for the future.
Kevin Shahnazar founder and chief executive office of FinlyWealth explained "Financial security acts as a powerful sleep aid. When we save money, we're not just growing our bank balance – we're investing in our peace of mind and physical health. It's a simple yet effective way to improve our overall quality of life.”
Regardless of your financial situation, being able to save money is beneficial all around and it can take a huge amount of pressure off knowing there is a savings pot set aside in case you need it. For example, if you’re just starting your career then being able to save a couple of months worth of wages to cope with an emergency like losing your job will help you naturally feel more secure. And like wise, if you’re just starting out, saving money can help you on the path to a major purchase such as your first home.
How to sleep when you’re feeling anxious
When anxiety rears its ugly head then it can feel almost impossible to get a good night's sleep. However, there are several techniques and strategies you can use to try and calm your mind and body even when you’re feeling anxious, whether it's financial woes or something else that's keeping you awake.
1. Set a consistent sleep schedule
Having a regular bedtime routine can make all the difference to how well you sleep. Setting a consistent sleep schedule will activate your natural internal clock get your body used to when it’s time to sleep and time to wake up. It’s this consistency that will help to reduce feelings of anxiety and stress related to disturbed sleep.
2. Practice relaxation techniques
If you’re looking for the best way to sleep when you’re feeling anxious then incorporating relaxation techniques into your nightly routine should be top of your list. Deep breathing practices activate the parasympathetic nervous system which slows down your heart rate, lowers your blood pressure and allows your body to enter a deep state of relaxation. You can also engage in mindfulness exercises where you focus your attention on the present moment and learn how to let go of anxious thoughts and feelings.
3. Create a relaxing bedtime routine
A nighttime routine can help you fall asleep faster. Try to establish a calming routine before you go to bed, which could include taking a warm bath, reading a book or listening to a meditation podcast. Try to avoid any screen time at least an hour before you sleep and also extend this to an hour when you wake up in the morning so that you stave off those anxious feelings throughout the day. If you’re still struggling to fall asleep then follow the 15 minute sleep rule which means you get out of bed, undertake a task for 15 minutes and then go back to bed when you feel tired again.
4. Make lifestyle adjustments
Getting a good night's sleep doesn’t just start the moment you crawl under the duvet. If you want to sleep well at night and banish anxiety from your life then you need to make some serious lifestyle adjustments. Engage in a healthy eating plan and try to avoid alcohol and caffeine, especially before bed as they can interfere with your sleep. Also, take up an exercise routine, as regular physical activity will help you feel good and promote a sense of wellbeing. Although, do avoid vigorous exercise at least an hour before bed.
5. Progressive Muscle Relaxation
Progressive Muscle Relaxation is a tried and tested technique for anyone struggling to sleep. Progressive Muscle Relaxation is a technique designed in the 1920’s that involves tensing then relaxing different muscle groups one by one. By doing this you focus on the sensations that the tension and release brings about which in turns helps to calm your mind and put you in a mindset where you’ll fall asleep easier.
6. Try a weighted blanket
Weighted blankets can help to soothe and calm feelings of anxiety. They do this by deep pressure stimulation which mimics the feeling of being hugged or swaddled. This sensation activates the parasympathetic nervous system which is responsible for rest and relaxation. The best weighted blankets also helps to increase serotonin and dopamine production which promotes relaxation, happiness and wellbeing. And because you’re feeling relaxed when sleeping under a weighted blanket, your feelings of anxiety should reduce.
7. Start journaling
Journaling can help with anxiety and promote better sleep in several ways. Anxiety often stems from built-up emotions and worries so journaling is a way of releasing those thoughts and feelings in a safe, private space giving you a chance to process them. Also journaling is incredibly calming and therapeutic. It shifts your focus away from your worries and focuses your attention on the present moment. By journaling before bed you get everything out which makes it easier to relax and drift off to sleep
