SURVEY SAYS: 2020 Financial New Year’s Resolutions

Last week, I asked NewsDash readers, which, if any, financial resolutions they made for 2020.

The most common financial resolution selected by responding readers was to spend less (31.2%). One-quarter each selected “save more for retirement” and “give more to charity.” Nearly 19% said one of their financial resolutions is to reduce or get out of debt.

Other selections were as follows:

• Create a budget and stick to it – 6.2%;
• Spend more/stop being so frugal – 6.2%;
• Save for emergencies – 12.5%;
• Invest more in the stock market – 12.5%;
• Get better financially educated – 0%;
• Stop financially supporting family members – 12.5%;
• Establish my plan for retirement – 12.5%; and
• Engage with a financial adviser – 6.2%.

One-quarter of responding readers selected “None of the above.”

Those readers who chose to leave comments revealed other non-financial resolutions they’ve made. One said, “I am always successful with my resolutions. I always resolve to not smoke. I’ve never been a smoker, so it is quite easy! :)” Another reader wished everyone good luck with their resolutions. Editor’s Choice goes to the reader who said: “None of the above are New Year’s resolutions for me. They’re just things I know I need to tackle if retirement is going to be as enjoyable as I hope it will be.”

A big thank you to everyone who participated in our survey!

Verbatim

More chocolate!

Every January I increase my 401(k) Contributions by 1%. So much less painful this way. Once I max out my contribution, it’s like getting a raise!

I just retired so my resolution is to figure out how to enjoy life now that I do not have to go to work every day!

My resolution is to track my spending as I am within 3-5 years of retirement.

Good luck to everyone!

Since I consistently overspend at the holidays, I have established a good old fashioned Christmas Club for myself in 2020.

Mortgage payoff is number one on my list for this year!

None of the above are New Year’s resolutions for me. They’re just things I know I need to tackle if retirement is going to be as enjoyable as I hope it will be.

I try to set a goal each month of the year to accomplish something I’ve been “meaning to get to”. I’m a procrastinator by trade and this helps me accomplish more and feel better about myself.

I’m not likely to meet my resolution of spending less unless I delete my Amazon app. I think they’re going to start leaving random packages for me with a note saying they knew I probably meant to order it…and they’d be right.

I am always successful with my resolutions. I always resolve to not smoke. I’ve never been a smoker, so it is quite easy! 🙂