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Cash in your account: the key to higher life satisfaction

Categories : Cash is efficient
October 13, 2016
Tags : Availability, Banknote/Note, Store of value, Trust
An American Psychological Association study shows that people that have cash in their bank account are most positive about their financial well-being.
Communication Team / Equipo de Comunicación

A new study published by Ruberton, Gladstone and Lyubomirsky for the American Psychological Association found that people who have access to liquidity in their checking and savings accounts experience higher life satisfaction.

The study, which focused on 585 U.K. bank customers, found that those with higher liquid wealth had a more positive perception about their financial well-being than those that had less wealth or wealth that was invested elsewhere. The findings show that it’s not necessarily how much you earn or how much you invest that make you happy, but rather how much cash you have in your account.

The conclusion is that life satisfaction is not only tied to earnings, but to immediate access to money – something that policymakers should take into account.

To read the publication’s abstract [paywall], please click here.