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36% more Americans planning to make finance-related New Year’s resolutions

Happy New Year
the staff of the Ridgeood blog
Ridgewood NJ, with the holiday season in full swing and inflation weighing on people’s finances, 36% more Americans are planning to make finance-related New Year’s resolutions for 2024, compared to 2023, according to a new WalletHub survey released today. In order to provide a playbook for how to make financial resolutions a reality, WalletHub also released its list of the Top 14 Financial Resolutions for 2024.

Key Survey Findings

  • Surge in Financial Resolutions: 36% more Americans are planning to make finance-related New Year’s resolutions for 2024, compared to 2023.
  • Shared Financial Goals: Nearly 1 in 2 Americans are planning to make finance-related New Year’s resolutions.
  • New Year’s Spending Cut: Nearly 3 in 4 Americans plan to spend less money on New Year’s plans this year than last year.
  • Most Challenging Resolutions: More than 1 in 4 Americans say financial resolutions are the hardest resolutions to keep.
  • Price for Vice: People want an average of $176,550 to give up their top vice for a year.
  • Wallet Concerns for 2024: Nearly 1 in 4 people think 2024 will be worse for their wallet than 2023.
  • Financial Anxiety: Nearly 2 in 3 Americans are anxious about the future of their finances.

Whatever you choose to focus on in the new year, making a plan for turning it into reality is essential. You can’t simply wing it and expect success. But putting these tips into practice will certainly help your chances.

Tips for Keeping Your New Year’s Resolutions

  • Set Realistic Goals: Make sure your resolutions are achievable and specific. Setting a clear goal will make it easier to plan for success. Tell a friend or family member about your resolutions or find an accountability partner to help keep you on track. Sharing your goals with others can provide motivation and support.
  • Break It Down and Create a Plan: Divide your resolution into smaller, manageable steps or milestones for achievement. This can make the overall goal less daunting and help you track your progress. Develop a clear and actionable plan for achieving each milestone, as well as your overall goal. Write down the steps you need to take and set deadlines for each of them.
  • Stay Positive and Adaptable: Life can be unpredictable, and circumstances may change. A positive attitude is essential for maintaining your motivation. Focus on the progress you’ve made rather than dwelling on any setbacks, and don’t forget to celebrate your victories, no matter how small they seem. Also, be willing to adjust your resolutions or your plan as needed to stay on track.
  • Be Consistent and Patient: Consistency is key to achieving your resolutions. Make your new habits a part of your daily routine, and don’t forget that change takes time. Setbacks are a normal part of the process, too, so don’t get discouraged if you don’t see immediate results

One thought on “36% more Americans planning to make finance-related New Year’s resolutions

  1. Fun pic, James! You rock the bowtie

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