WASHINGTON (1/7/14)--A record-breaking number of Americans (54%) vowed to make financial resolutions at the start of 2014, with many shifting toward short-term savings goals, according to Fidelity Investments' fifth annual "New Year Financial Resolutions Study" (U.S. News & World Report Dec. 26).
The most popular financial resolutions are saving more (54%), paying off debt (24%) and spending less (19%), followed by developing a long-term goal plan (13%), sticking to a budget (12%) and paying down credit card debt (8%).
The study also revealed that almost half (49%) feel that economic uncertainty--federal debt ceiling battles and potential changes in interest rates--may prevent them from keeping their financial resolutions in 2014.
Still searching for relatively simple yet solid financial resolutions that you won't abandon by February? Try these:
Once you set your financial resolutions, resolve to keep them. Schedule quarterly check-ins. By April 1, what progress have you made? By July 1, are you half-way there? Write progress check-ins on your calendar now, and reward yourself throughout the year. That way, you won't get to December having forgotten your financial resolutions for 2014.
For more information, read "Set 2014 Up for Financial Success" in the Home & Family Finance Resource Center.