New Data Reveals That People Would Rather Give Up Social Media Than Commit to a Financial New Year's Goal
We’re a week into the New Year, which means you’re a week into your New Year’s resolutions. From losing weight to spending more time with family, there are plenty of popular resolutions out there -- and plenty of opportunities not to stick to them.
Among the most challenging, apparently, is the resolution to meet financial goals.
For a LearnVest survey titled Money Habits and Confessions conducted by Wakefield Research, 1,000 respondents 18 years and older weighed in regarding their money habits and goals for 2017. Fifty-six percent said they planned to set financial goals, yet only 34 percent (and 42 percent of millennials) predicted they would actually stick to them. In fact, more than half of all respondents said it would be easier to give up social media for a year than stick to a financial goal.
Although more men than women consider themselves “financially savvy” compared to the average American, the survey revealed that women (64 percent) are more likely than men (46 percent) to actually make a financial resolution.
In general, people seem to have other priorities. More than half of Americans surveyed believe that kicking their bad lifestyle habits, such as not exercising enough, would be more beneficial to them than cutting back on spending. That said, 68 percent reported they’d rather share their weight than their credit score.
Cities can be very expensive places to live, so it’s no wonder that Americans living in urban areas put financial goals at the top of their lists. That goes for people with kids, too -- 72 percent of parents plan to set financial goals, while only 47 percent without kids plan to put their finances first.