today’s TOPIC
Financial Resolutions for the New Year BY » Peter Eisenhauer
I
s financial planning on your list of New Years resolutions? Along with health and general well-being, money matters are among the most common areas for people to take a look at as they put up the new year’s calendar and start getting used to the new date as they are writing out checks. “I think that there is a fair amount of people out there that look at the New Year as a reset and if there are things that they’d like to do and/or improve and they missed the mark in the past year, they look at the New Year as somewhat of a catalyst or greenlight to make those changes or to just start heading in the right direction,” says David Hedges, of 14 LimitlessMagOnline.com | January 2022
Bookman Bright, Inc., in Davidson. A recent study bears this out — in fact, according to the Fidelity Investment’s most recent annual Financial Resolutions study, 68% of Americans say they are considering a financial resolution for the New Year. The number is up from last year. Fidelity’s survey finds people guardedly optimistic and more inclined to make plans for the future. Despite continued uncertainties around Covid-19, the study found that in 2021 that 71% of those surveyed who were able to stick with a financial resolution, as compared to just 58% in 2020. “The country has been through a seemingly unrelenting roller coaster over the past two years, so it’s encouraging
to see people feeling more hopeful about the coming year and placing a priority on themselves,” said Stacey Watson, senior vice president of Life Event Planning, Fidelity Investments. “This study confirms that actions taken at the start of the pandemic – such as budgeting better and replenishing that emergency savings fund – are becoming permanent habits for many. Americans are connecting their new perspective on well-being to the way they approach their finances, and as a result, becoming more thoughtful about saving and spending.” Part of the new perspective is that many people have absorbed the advice to make their goals actionable and realistic. “First and foremost, start small,” says
