Finance is one of the problems that often occurs during the quarter life crisis phase. A recent research shows that millennials can be happier if they reduce their shopping. However, the habit must be accompanied by saving more.
A recent study
Reporting from CNBC, a recent study conducted by experts at the University of Arizona said, be obedient to the budget, save money, and reduce shopping has benefits not only for personal financial conditions.
The research also revealed that millennials who apply financial strategies proactively tend to be happier and more satisfied with their lives.
For the study, researchers collected data from 968 millennials (born between 1981 and 1996), ranging from new students to third years at university (ages 18-21 years).
The researchers then updated data from the same people when they were in their fourth year of university and two years later (aged 23-26 years).
Respondents answered questions about the lifestyle of materialism, as well as their personal financial tactics, such as developing a budget and environmentally friendly habits that they did.
The researchers chose to observe eco-friendly habits because they provide an overview of how students behave towards limited resources.
Mental health and saving
In addition, respondents were also surveyed about their mental health, including how they are satisfied with life and how they rank their personal well-being.
People who save report better overall welfare, including
low psychological pressure. In addition, people who are slightly gobbledy and consumed show low symptoms of depression. Thus, there is a positive mental health impact.
Besides, saving strategies also improve one’s financial satisfaction.
It provides inner peace. If you live not wasteful, obviously a positive impact on your mental health.
A number of ongoing efforts also have a similar impact on one’s health and happiness.
Many people associate environmentally friendly products as a solution. However, reducing the amount of goods used or purchased is a good solution for mental health.
It’s normal to have products that can help us in everything in life, but they all contribute to climate chang.
Thus, you can record spending on a weekly basis and compile a shopping list to avoid impulsivity.
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