More Consumers Made Financial Resolutions for 2016

January 21, 2016, Written By Natalie Rutledge
2016 New Year Resolutions Concept with Pencil and Notebook for Writing Goals and Aspiration in Following Year

There has been a substantial increase in the number of Americans making financial resolutions for 2016, according to the latest survey from American Consumer Credit Counseling.

More than 75% of consumers have made financial resolutions for this year, a significant jump from 53% in 2015. 95% of this year’s respondents who have financial resolutions said they have a specific plan in place to help them achieve their goals.

More than half of those surveyed said paying off debt is their top financial goal. 22% of consumers want to save more money this year, compared to 13% last year.

Nearly one-third (32%) of this year’s participants said debt was their biggest source of financial stress. Last year, 22% of respondents felt their biggest regret was relying too heavily on credit cards, and 13% said they regretted spending money frivolously.

ACCC only surveyed 146 people this year through an online poll, so the numbers may not be fully reflective of the American population. In December, Allianz Life Insurance Company polled slightly over 1,000 people and found only 29% of respondents had New Year’s resolutions related to financial stability. 44% of those participants had resolutions related to health and wellness, not their savings or debt.



The information contained within this article was accurate as of January 21, 2016. For up-to-date
information on any of the terms, cards or offers mentioned above, visit the issuer's website.


About Natalie Rutledge

Natalie Rutledge majored in Communications at Mississippi State University. She was in sales for a number of businesses and spent nine years working as a communications advisor to various entities. Natalie can be contacted directly at [email protected]
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