How many people cheat on their New Year’s resolutions?

Roughly 97 million Americans plan to make New Year’s resolutions for 2021, according to a new WalletHub survey. Despite the COVID-19 pandemic, or perhaps because of it, we are still filled with the seasonal spirit that led Benjamin Franklin to advise: “Be always at war with your vices, at peace with your neighbors, and let each New Year find you a better man.”

We all have our fair share of vices and room for improvement, especially when it comes to money. So it’s unsurprising that financially-themed resolutions are among the most popular made each new year. In fact, the top financial resolution for 2021 is to save more, with a third of Americans on board.

But fewer than 40% of resolution-makers expect to keep their vow for a full year, which is not a good sign for hopes of improved money management. Neither is the fact that more than 7 in 10 people admit to having cheated on a New Year’s resolution in the past.

Don’t be discouraged, though. WalletHub has your back. They put together a list of the top financial New Year’s resolutions to make for 2021, plus a playbook for making them a reality.

10 Financial New Year’s Resolutions for 2021:

  • Make a realistic budget & stick to it
  • Look for a better job
  • Focus on physical health, given its strong connection to financial health
  • Use different credit cards for everyday purchases & debt
  • Sign up for credit monitoring
  • Repay 20% of your credit card debt
  • Add one month’s pay to your emergency fund
  • Pay bills right after getting your paycheck
  • Get an A in Wallet Literacy
  • Make sure you have enough insurance for a catastrophe

Image Sources

  • New Year: Pixaby