Infographic: Can saving money make you happy?

At this time of the year, not a lot of people are saving money. Instead, most consumers are spending their free time with their disposable income (or credit cards) at the mall or online buying gifts for family, friends, colleagues and neighbors. Indeed, it is a very stressful and costly time for millions of people.

The important question to ask at this time of the year is: what makes you happy, saving or spending? At first, one would say spending money is a lot of fun and provides happiness. But does it? Perhaps, in the short-term purchasing goods and services provides a thrill, but saving offers long-term happiness and peace of mind.

An infographic from Ally Bank discovered that 85 percent of respondents say saving money makes them feel good, while 89 percent feel proud and 84 percent feel independent having money set aside for a rainy day.

The entire infographic can be found below.

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