Financial Resolutions on Top for the New Year - Other News

Advertising Disclosure

Credit-Land.com is an independent, advertising-supported web site. Credit-Land.com receives compensation from many credit card issuers whose offers appear on our site. Compensation from our advertising partners impacts how and where their products appear on our site, including, for example, the order in which they may appear within review lists. Credit-Land.com has not reviewed all available credit card offers in the marketplace.

Credit Card Applications » News » Other » Financial Resolutions on Top for the New Year

Financial Resolutions on Top for the New Year

Add to Favorites:
Financial Resolutions on Top for the New Year
January
8

Are you sticking to your New Year’s resolutions to eat better and get to the gym more often? While health and fitness are top resolutions, finances were also on people’s minds when they rang in 2014, according to a recent survey.

People were feeling better economically–26% said they were doing better financially, up from 19% last year, according to the Fidelity Investments New Year Financial Resolutions Study.

Getting finances in shape

More than half of the 2,027 respondents (54%) were looking to carry less debt in 2014. Top resolutions also included paying down debt (24%) and putting a cap on spending (19%).

While all three resolutions have held top spots for the last few years, more people were focused on paying down debt this year, a trend that has been building since 2010 when just 8% of respondents had an eye on reducing the money they owed.

 “These findings suggest individuals are taking more control over financial matters, leading them to feel better about their personal situations,” said Fidelity vice president Ken Hevert.

Save, save, save

Thirty-nine percent of those planning to save prioritized short-term savings this year over putting money away for retirement or college funds. This is up 10% from last year when only 29% said looking to save for the short term was their savings priority. Short-term goals include paying down credit cards, splurging on big-ticket items, and dealing with emergencies.

Investing for the long haul is a priority for 53%, down from 65% last year, suggesting that people are looking to find a balance between managing their short- and long-term goals.

Financial resolutions can be hard to keep, with 29% of participants saying that while they have made money-related resolutions in the past, they’ve had a hard time keeping them.

Certain tricks may help folks stay on track, including treating themselves when they make their goal, being able to see the value of the resolution, and making smaller goals that may be easier to keep.

All credit cards terms, fees and rates mentioned in this article/post are actual on the posting date. See the current products’ Terms & Conditions on the issuing banks' websites.
Add to Favorites:

Related News:

Parents Pass on Bad Financial Habits to Kids
Parents Pass on Bad Financial Habits to Kids

Posted: April 03, 2014

Learning how to manage money effectively is an essential life skill—but one that many parents struggle to teach their children. A survey by T. Rowe Price found that although a majority of parents strive to set a good example for their... Continue reading
Consumer Confidence Slides to Two-Year Low
Consumer Confidence Slides to Two-Year Low

Posted: November 08, 2013

Consumer confidence is at a two-year low, according to Discover’s  Spending Monitor.  There was a decline in planned spending by respondents in almost every category last month. People with kids and married couples tended to be the most... Continue reading
“Bah, Humbug” to the Holidays?
Bah, Humbug to the Holidays?

Posted: December 13, 2013

According to a new study, 43% of Americans would rather skip the holidays this year because of the financial strain it puts on their bank account and credit card statements. Continue reading
Get the latest news, articles and expert advice delivered to your inbox. It's FREE.
Match Mile For Mile: We’ll match all the Miles you’ve earned at the end of your first year. For example, if you earn 30,000 Miles, you get 60,000 Miles.
For Excellent, Good Credit
You could turn $150 into $300 with Cashback Match™. Get a dollar-for-dollar match of all the cash back you’ve earned at the end of your first year, automatically.
For Excellent, Good Credit
No Annual Fee. See WebBank/Fingerhut Credit Account Terms.
For Bad Credit