Consumer Behavior

Saving money top New Year’s resolution

Photo by istock.com

December 21, 2021

When it comes to New Year's resolutions the top goal is losing weight.

Not so this year, according to a Saint Leo University Polling Institute that revealed "saving more money" is the top goal for 2022.

The poll surveyed 1,000 Americans and one-third, 32.4%, also said they'll be making more resolutions this year than last with the list including exercising and traveling more, according to a press release on the survey.

Dr. Christopher Wolfe, associate professor of psychology at Saint Leo University, said age may make a difference in the choice of which resolutions to make.

"As saving more money is also the most popular option, I might guess that this age group suffered the most significant changes to their home, work and school lives over the course of the past two years [due to the COVID-19 pandemic]," Wolfe said in the release. "A humanist perspective would see this as a sign of hope — a core personality characteristic among successful and mentally healthy individuals.

"While the current struggles have been trying, a resolution to make a change, to try and better one's life in some measurable way demonstrates recognition of deficit and a willingness to create a plan or goal," he continued. "These are two key aspects of embracing a healthy view on self, stress and the world. It is; however, the third component — motivation — that often breaks the New Year's resolve and undermines even the best intentions for improvement."

Wolfe said money was "real tight" or simply disappeared these past two years for many Americans.

"Most particularly for those in low paying, service and gig-based jobs — those more common among the 18-44 crowd," he said. "Perhaps this represents a wake-up call and a larger push to start building a 'safety net' in case — or when — another pandemic rips the framework of our lives apart."