(WKBN) — With holiday spending leaving wallets light in times when inflation weighs heavy, a recent survey shows more than half of Americans are considering financial resolutions for the new year.
We’re all familiar with the common New Year’s resolutions like exercising more and eating better, but in a time where rising costs are at the forefront of many minds, people are reexamining those priorities.
According to the 2025 Financial Resolutions Study from Fidelity Investments, approximately 65% of survey respondents stated they are considering a financial resolution for the New Year.
Key study findings show 2025 is expected to be the year of “living practically.”
Americans resolving to save more money are more focused on short-term savings goals in the coming year than long-term goals (55% versus 45%) — a shift from last year. A whopping 79% of survey respondents said they plan to build up their emergency savings, with unexpected expenses topping the list of financial concerns for the year ahead.
Top financial concerns for 2025:
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Inflation’s impact on day-to-day expenses and saving
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Economic uncertainty/recession
A majority of people setting goals say they have a plan in place to reach them. Those who weren’t able to hit financial goals last year said having a realistic and easy-to-maintain goal would help them long-term, with smaller milestones to help along the way.
The study shows younger generations are more likely to make a financial resolution, also believing they’re more likely to be financially better off.
Two-thirds of Americans believe they’ll be better off in the new year, listing top motivators as having greater peace of mind and living a debt-free life.
The Ohio Department of Commerce’s Division of Financial Institutions (DFI) suggests setting the following financial resolutions:
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Establish an emergency fund
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Develop a personal budget
DFI says prioritizing security, like changing passwords and enabling two-step verification, is a good way to protect your hard-earned money.
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