{"id":1324,"date":"2018-12-28T00:00:00","date_gmt":"2018-12-28T00:00:00","guid":{"rendered":"https:\/\/qa.simplifimoney.com\/blog\/quicken-resolution-round-up\/"},"modified":"2024-11-18T10:23:41","modified_gmt":"2024-11-18T18:23:41","slug":"quicken-resolution-round-up","status":"publish","type":"post","link":"https:\/\/www.quicken.com\/blog\/quicken-resolution-round-up\/","title":{"rendered":"Quicken Resolutions: This New Year, Try Investing in You"},"content":{"rendered":"\n<p>As the year comes to a close, we\u2019re starting to think about how to make the most of the new year and live our best lives.<\/p>\n\n\n\n<p>Quicken, maker of the best-selling personal finance software in the US, surveyed over 1,000 adults to gather insights into financial New Year\u2019s resolutions \u2014 and discovered some surprising secrets to success.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">The best things in life might be free, but it turns out resolutions aren\u2019t.<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The majority of people making resolutions are spending money on them. <strong>56% of people who make resolutions say they spend money in order to keep their resolutions.<\/strong> The good news? People who invest money in resolutions are <strong>25% more likely to report keeping them for a year or more.<\/strong><\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">People spend real money on their resolutions.<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Nearly 40% of people who spend on resolutions say they spend between $100 &#8211; $500<\/strong>, while 14% say they spend between $500 &#8211; $1000 and 12.5% say they spend a whopping $1000 &#8211; $5000.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">But not everyone is admitting to it.<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Forty percent of people who say they spend on their resolutions also say <strong>they\u2019ve hidden how much money they have spent on a resolution. Men are nearly 40% more likely than women to say they\u2019ve hidden<\/strong> the fact that they\u2019ve spent money on resolutions (47% of men vs. 34% of women).<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">New Year, New Spending Habits?<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Over 55% of people report making resolutions about their health or fitness, while financial resolutions came in second place.&nbsp; Each year, millions of Americans make financial resolutions. People who make financial resolutions are most likely to say they plan to pay down debt (38%) or save money (37%).<\/li>\n\n\n\n<li><strong>Men are more likely than women to make financial resolutions<\/strong> by about 16% (people who make financial resolutions are 52% men vs. 45% women)<\/li>\n\n\n\n<li>Millennials (age 23-38) are the most likely generation to report making financial resolutions \u2014 <strong>nearly a quarter (24%) of millennials who make resolutions report making financial resolutions<\/strong>, vs. just 9% of Gen X\u2019ers (age 38-55) and 14% of boomers (age 55+).<\/li>\n\n\n\n<li>People who make financial resolutions spend more overall on those resolutions \u2014 <strong>over half (51%) say they spend over $500 and 1 in 4 (27%) say they spend between $1,000 &#8211; $3,000<\/strong> on goals like spending less, saving money toward a specific goal, or investing.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">Resolutions are a young (wo)man\u2019s game.<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>While <strong>just over half of all people make resolutions (51%), women are about 10% more likely to make resolutions than men<\/strong> (53% of women vs. 48% of men make resolutions).<\/li>\n\n\n\n<li>While only <strong>30% of boomers bother to make resolutions<\/strong>, the younger generations\u2019 resolution game is strong. Millennials are <strong>twice as likely<\/strong> to make a resolution \u2014 <strong>60% of millennials make them<\/strong>. Gen X is close behind, 50% resolve to make changes in the new year, respectively.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">Long live the resolution!<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Millennials are most likely to say they keep resolutions for a year or more<\/strong>, with one in five saying that\u2019s how long they keep them.<\/li>\n\n\n\n<li>While Gen Z (age 22 or under) is most likely to say they make a resolution (65%), <strong>they\u2019re also most likely to say they abandon it in five weeks or less<\/strong> (68% of those who make resolutions).<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">Anything you resolve, I resolve better.<\/h2>\n\n\n\n<p>Married couples each say they\u2019re more likely to keep a resolution than their spouse is \u2014 clearly we\u2019re more confident in our own resolve than our partner\u2019s. <strong>65% percent of men and 70% of women say that they are more likely to keep their resolution than their spouse is.<\/strong> That said, married couples overwhelmingly report that their spouse is a positive influence \u2014 <strong>60% report that their spouse helps them keep their resolutions<\/strong>.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Want to Keep Your New Year\u2019s Resolution?&nbsp; Find a Tool to Track It.<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>The majority (62%) of people who report keeping their New Year\u2019s resolution for a year or more use software or trackers to do so<\/strong>, vs. less than half of people who do not keep their resolutions.<\/li>\n\n\n\n<li>If wanting to create a financial resolution, consider using a tracker or software such as <a href=\"https:\/\/www.quicken.com\">Quicken<\/a>. Softwares will help you stay updated and organized.<\/li>\n\n\n\n<li>Accountability is also key. 72% of people who report keeping their resolutions tell someone about it, vs. 60% of people who do not keep them.<\/li>\n<\/ul>\n\n\n\n<p>Accountability is a time-tested tool for success. Spending on tools that help you plan and track toward your long-term financial goals may be the key to sticking to those financial resolutions long past February. Sharing your goals with a loved one also helps. This new year, consider investing in yourself.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>As the year comes to a close, we\u2019re starting to think about how to make the most of the new year and live our best lives.<\/p>\n","protected":false},"author":59,"featured_media":1325,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_seopress_robots_primary_cat":"none","_seopress_titles_title":"Quicken Resolutions: This New Year, Try Investing in You","_seopress_titles_desc":"As the year comes to a close, we\u2019re starting to think about how to make the most of the new year and live our best lives. Quicken, maker of the best-selling personal finance software in the US, surveyed over 1,000 adults to gather insights into financial New Year\u2019s resolutions \u2014 and discovered some surprising secrets to success.","_seopress_robots_index":"","inline_featured_image":false,"footnotes":""},"categories":[108],"tags":[],"class_list":["post-1324","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-budgeting-savings"],"acf":[],"jetpack_featured_media_url":"https:\/\/www.quicken.com\/blog\/wp-content\/uploads\/2022\/08\/beautiful-christmas-fashion-284011.jpg","_links":{"self":[{"href":"https:\/\/www.quicken.com\/blog\/wp-json\/wp\/v2\/posts\/1324","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.quicken.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.quicken.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.quicken.com\/blog\/wp-json\/wp\/v2\/users\/59"}],"replies":[{"embeddable":true,"href":"https:\/\/www.quicken.com\/blog\/wp-json\/wp\/v2\/comments?post=1324"}],"version-history":[{"count":3,"href":"https:\/\/www.quicken.com\/blog\/wp-json\/wp\/v2\/posts\/1324\/revisions"}],"predecessor-version":[{"id":5711,"href":"https:\/\/www.quicken.com\/blog\/wp-json\/wp\/v2\/posts\/1324\/revisions\/5711"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.quicken.com\/blog\/wp-json\/wp\/v2\/media\/1325"}],"wp:attachment":[{"href":"https:\/\/www.quicken.com\/blog\/wp-json\/wp\/v2\/media?parent=1324"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.quicken.com\/blog\/wp-json\/wp\/v2\/categories?post=1324"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.quicken.com\/blog\/wp-json\/wp\/v2\/tags?post=1324"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}