2020 New Year’s Financial Resolutions Survey
WalletHub conducted a nationally representative poll of nearly 500 people in the U.S. to see what types of resolutions folks are making for 2020, especially in terms of personal finance. We also asked about people’s motivations for making resolutions, their expectations of success and much more. This survey took place from December 2 to December 6, 2019. You can find the complete results in the following infographic.
- The #1 financial resolution for men is to save more, while women are focused on paying off debt.
- WalletHub’s Top 10 New Year’s Financial Resolutions for 2020 start with 1) Repay 20% of your credit card debt and 2) Add one month’s pay to your emergency fund.
- 7 in 10 people admit they’ve cheated on a New Year’s resolution before.
- Conservatives are 2.5X more likely than Liberals to think it is NOT ok to adjust your New Year’s Resolution later in the year.
- Millennials are twice as likely as baby boomers to break a resolution due to laziness.
Full Details Overall
|What type of New Year’s resolution are you most likely to make? (select all that apply)|
|Habitual (biting nails, being late, etc.)||21%|
|What type of New Year’s resolution are you least likely to keep? (select all that apply)|
|Habitual (biting nails, being late, etc.)||34%|
|How likely are you to keep a New Year’s resolution?|
|If you are to make a financial resolution, what would it be?|
|Pay off debt||27%|
|Make more money||16%|
|Improve credit score||6%|
|Did you make a financial resolution last year?|
|How long do you expect to keep your New Year’s resolution?|
|Up to 6 months||18%|
|Up to 3 months||18%|
|Less than a month||12%|
|Up to 9 months||5%|
|Have you ever cheated on a New Year’s resolution?|
|Is it ok to adjust your New Year’s Resolution during the year?|
|If you make a financial resolution, what is most likely to prevent you from keeping it?|
|Not enough money||24%|
Note: Percentages may not total 100% due to rounding.
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