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2020 New Year's Financial Resolutions

By NAIFA on 12/18/19 11:14 AM

Resolution Season is almost upon us, and not surprisingly, nearly 99 million Americans are planning to make a financial resolution for 2020, according to a new WalletHub survey.,

Here are a few highlights from the survey:

  • The top financial resolution is to save more, cited by a third of all Americans surveyed.
  • The #1 financial resolution for men is to save more, while women are focused on paying off debt.
  • Fewer than 50 percent of Americans expect to keep their resolutions for a full year.
    The average U.S. household has $8,813 in savings, while the average U.S. household has $8,701 in credit card debt.
  • 7 in 10 people admit they’ve cheated on a New Year’s resolution before.
  • Conservatives are 2.5 times more likely than Liberals to think it is NOT ok to adjust your New Year’s Resolution later in the year.

WalletHub conducted a nationally representative poll of nearly 500 people in the U.S. to see the types of resolutions people are making for 2020, especially in terms of personal finance. The company also asked about people’s motivations for making resolutions, their expectations of success and much more. The survey took place from December 2 to December 6, 2019.

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