Americans Set Financial Resolutions For 2025, Survey Finds

(VOR News) – According to a survey that was conducted not so long ago, more than half of the Financial Resolutions people living in the United States are considering making financial resolutions for the new year.

When inflation is a large role, this is because holiday spending leaves little money in wallets. This is especially true during times when inflation is a significant factor.

All of us are familiar with the traditional resolutions that people make for the New Year, such as increasing the amount of time spent exercising and making improvements to one’s diet.

They are, however, reevaluating the significance of those resolutions in this day and age, when rising costs are at the forefront of the minds of a great number of people.

With regard to the outcomes of the 2025 Financial Resolutions Study that was carried out by Fidelity Investments, it was discovered that over sixty-five percent of the individuals who took part in the study said that they are considering making Financial Resolutions for the New Year.

The findings of the study show that the year 2025 is expected to be the year of “living practically.” This is one of the most significant discoveries.

When compared to the previous year, the majority of Americans who have taken the decision to save more money are more concerned with short-term savings goals in the future year (55% versus 45%). This figure represents a significant increase from the previous year.

In comparison to the prior year, this is a change. Unanticipated costs are at the top of the list of individuals who are anxious about their Financial Resolutions situation for the coming year, and a whopping 79% of those who participated in the poll revealed that they aim to raise the amount of money they have set aside for situations that require immediate attention.

Issues that are at the top of the list for the year 2025 include:

Expenses that weren’t expected to arise

The effect that inflation has on daily savings and expenditure levels

Uncertainty about the economy and the impending recession

Most people who create goals for themselves claim to have a plan in place that will help them achieve their objectives. They replied that it would benefit them in the long run to have a goal that is both attainable and easy to sustain, with small benchmarks to help them along the way. Those who had failed to meet their financial objectives in the past year brought this up.

According to the survey’s results, younger generations are more inclined to make financial decisions and think they are more likely to be in a better financial position than earlier generations.

The vast majority of Americans believe that their financial situation will improve during the next 12 months. They state that the two main factors they mention as being significant are living a life free of obligations and feeling more at ease.

The Ohio Department of Commerce’s Division of Financial Institutions (DFI) recommends the following financial resolutions be put into effect.

These financial resolutions are as follows:

Put some additional money aside for your retirement income.

The goal is to improve your credit score.

Establish a reserve fund to cover any unforeseen costs.

A debt management strategy that is successful

Making a budget with your own money is a good idea.

Some examples of the kinds of security measures that, according to DFI, are effective ways to secure the money that you have worked so hard to acquire include changing your passwords and enabling two-step verification. Both of these are instances of security measures

SOURCE: WKBN

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