Among the 45% of Luxembourgers who are comfortable with the amount of money they have saved (see “ING International Survey on Financial Competence” - www.ezonomics.com/iis), 40% of them rate their satisfaction with life as “high” on a zero-to-ten-point scale (rating it as 9 or 10). Of those Luxembourgers uncomfortable with their level of savings (16% of all respondents to the aforementioned survey), 11% gave the same ranking and also say they are very happy with their life nowadays.

ING senior economist Ian Bright, lead author of the survey, says the results suggest there is a relationship between savings and happiness. “We know regular saving boosts bank balances – now it appears that it might also boost happiness levels as well” says Bright.

This relationship between savings and happiness seems to be evident in all European countries where the ING International Survey was carried out. “Having a savings buffer of three-to-six months of earnings to use when an emergency strikes is a healthy financial habit – and it may also give peace of mind as well,” says Bright. “For people on low incomes who cannot save a lot each month, even putting aside a small amount may improve things for the future.”

On the European scale, this survey also clearly shows that Luxembourg, along with Austria, records the best happiness scores, all satisfaction levels taken into account.

For more about the first United Nations International Day of Happiness, please visit dayofhappiness.net.