62% of Americans Have Already Abandoned Their New Year’s Resolutions

62% of Americans Have Already Abandoned Their New Year’s Resolutions

February 12, 2020         Written By Lynn Oldshue

Americans may have started the year with lofty goals, but most have already abandoned them. According to Quicken, 62% of Americans give up their New Year’s resolutions after six weeks. At the end of the first quarter, 86% will have put their goals behind them.

What causes Americans to lose site of their resolutions? Nearly half (44%) say they get too busy, and 41% say they attempted too many changes at once. For 40% of respondents, it’s simply a matter of losing interest.

At the start of 2020, 67% of Americans had some sort of financial resolution. The most popular goals were to save more money (53%) and pay down debt (51%). Quicken found that 61% of consumers struggle with spending too much and 43% struggle with saving money. Issues with spending were more popular among older generations, while issues with saving were more popular among younger generations.

Consumers say they are willing to make sacrifices to reach their financial goals, even if they lack the motivation to do so. Over half (54%) said they would give up takeout or meal delivery services to improve their finances, and 43% said they would give up online shopping.

The information contained within this article was accurate as of February 12, 2020. For up-to-date information on any of the terms, cards or offers mentioned above, visit the issuer's website. Many of the offers on this article are from our affiliate partners, and LowCards.com may be compensated if you take action with any of our affiliate partners.

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lynn-oldshue

About Lynn Oldshue

Lynn Oldshue has written personal finance stories for LowCards.com for twelve years. She majored in public relations at Mississippi State University.