The telephone survey of more than 1,000 Americans ages 18
and older indicated that 35% typically consider New Year’s resolutions
regarding their finances, but 43% of individuals said they are more likely to
consider financial resolutions for the coming year. This number increases to 55%
among those ages 35 to 44, Fidelity said in a press release.
Additionally, more women (48%) than men (39%) said they
are likely to consider financial resolutions for 2010.
Saving more and spending less topped the list of
financial resolutions respondents are considering. More than half (51%) said
that saving more money was their primary focus, followed by spending less money
(30%), and making or sticking to a budget (14%).
More than eight in 10 (83%) said they are likely to learn
more about financial topics in the new year, with the two most mentioned
subjects being setting financial goals (47%) and saving for retirement (43%).
The study also found that more than seven in 10 respondents
(71%) hope to increase their confidence level in their finances with their
Although nearly one-third (30%) of respondents said it is
harder to keep a financial resolution over other popular resolutions, 60% said
they had stuck with their past financial resolutions versus 51% who kept non-financial
resolutions. Of the 31% who broke their financial resolution in past years, the
average length of time they managed to stay with their resolution was a little
more than three months (3.2 months).
However, the vast majority (88%) of those considering a
financial resolution said they believe the economic events of the past year
will give them impetus to stick with them in 2010.
TD AMERITRADE also recently announced that its annual New Year’s Resolution poll found 75% of respondents said at least one of their 2010 resolutions will be related to being a better saver/investor (see Americans Vowing Better Financial Planning for 2010).