It’s That Time of Year Again: Resolutions

Can achievable New Year’s resolutions work with financial matters? Could they help allay financial stress, anxiety or insecurity?  

Column distributed by Hearst Connecticut Media Group.

Links to resources referenced:

• Good Housekeeping: “65 Achievable New Year’s Resolutions You’ll Actually Keep”
  • https://www.goodhousekeeping.com/health/wellness/advice/g985/achievable-new-year-resolutions/
  • Related column excerpt:
    • “Preparing for the new year, I came across an interesting twist on resolutions: ‘65 Achievable New Year’s Resolutions You’ll Actually Keep,’ a great article on the Good Housekeeping website. Sixty-five is a bit much, but I love the idea of resolutions ‘you’ll actually keep.’”

• Insideout Mastery: “19 Surprising New Year’s Resolution Statistics”
  • https://insideoutmastery.com/new-years-resolution-statistics/#:~:text=How%20long%20do%20New%20Year's,high%20quitting%20rate%20in%20January.   
  • Related column excerpt:
    • “Those should be easy, yes? But why is it that only 9% of people successfully keep their New Year’s resolutions, according to Insideout Mastery?”   

• Motley Fool Money’s 2024 Financial Stress, Anxiety, and Mental Health Survey
  • https://www.fool.com/money/research/2024-financial-stress-anxiety-and-mental-health-survey/?irclickid=VG10%3AeTFyxyKT1ZSfmUXcQViUkCSSsVtRxpvzA0&utm_campaign=mpid&utm_medium=affiliate&irgwc= 
  • Related column excerpt:
    • “Motley Fool Money’s 2024 Financial Stress, Anxiety, and Mental Health Survey of 2,000 American adults found that 54% of respondents had financial anxiety or stress three or more days a week.”
• Northwestern Mutual’s 2024 Planning & Progress Study
  • https://news.northwesternmutual.com/planning-and-progress-study-2024   
  • Related column excerpt:
    • “Northwestern Mutual’s 2024 Planning & Progress Study, released earlier this year, surveyed more than 4,500 adults ages 18 and older and reported that 33% of adults said they did not feel financially secure -- the highest level of insecurity in the study’s history, which began in 2009.” 
• Debt.com: Financial Regrets Survey
  • https://www.debt.com/research/financial-regret-survey/
  • Related column excerpt:
    • “Or what about those living with financial regret (78% of more than 1,000 adult Americans surveyed by Debt.com, with 21% saying the regret is ‘charging up too much credit card debt’)?”
• Fidelity Investment’s 16th annual New year’s Financial Resolutions study
  • https://newsroom.fidelity.com/pressreleases/fidelity-s-16th-annual-resolutions-study--americans-gearing-up-for-unexpected-financial-events-in-20/s/5613c543-fa52-4539-a690-a9d833773754
  • Related column excerpt:
    • “Fidelity Investments’ 16th annual New Year’s Financial Resolutions study indicated that 2025 would be the year of “living practically.” Among the top concerns listed by the 3,008 U.S. adults ages 18 and older were unexpected expenses (38%), the effects of inflation (37%) and economic uncertainty or recession (32%).”