
As the calendar flips to a new year, it's a customary tradition for many of us to reflect on the past and set our sights on a brighter future. While New Year's resolutions often revolve around physical and mental health, it's essential not to overlook your financial well-being in 2024.
The Forbes Health/OnePoll survey has identified some of the most common resolutions for the year, and financial health is among the top priorities, with 38% of respondents aiming to improve their finances. The most popular goals for 2024 include:
- Improved fitness (48%)
- Improved finances (38%)
- Improved mental health (36%)
- Losing weight (34%)
- Improved diet (32%)
Less popular resolutions include traveling more (6%), meditating regularly (5%), drinking less alcohol (3%), and performing better at work (3%).

How Long Does the Average New Year's Resolution Last?
If you've experienced the frustration of setting ambitious New Year's resolutions only to abandon them shortly after, you're not alone. According to the Forbes Health/One Poll survey, the average resolution lasts just 3.74 months. Some sources cite “Ditch New Year’s Resolutions Day” as January 17 while others denote the second Friday in January as “Quitter’s Day.”
The survey found that the average resolution lasts just 3.74 months:
- 8% of respondents tend to stick with their goals for one month
- 22% last two months
- 22% last three months
- 13% last four months

Are you ready to commit to financial goals for 2024?
Here are some inspiring resolutions to get you started:
- Pay off personal debt: Prioritize paying off high-interest debt, such as credit card balances, to avoid accruing more interest over time.
- Kick a costly habit: Identify and replace expensive habits with frugal ones to save money over the long term e.g. daily gourmet coffee, a premium movie channel package or that afternoon sweet treat
- Build an emergency fund: Cars deteriorate, basements flood and arms break. In other words, life is full of surprises. Expect the unexpected and create an emergency fund in order to avoid debt and cover those unforeseen expenses.
- Talk with a financial advisor: Seek professional guidance to clarify your financial goals, explore options, and create a personalized plan to steer your finances in the right direction.
- Improve your financial literacy: Dedicate time to educate yourself about personal finance through podcasts, books, or articles to become more financially savvy.
- Calculate your net worth: Monitor your overall financial health by regularly calculating your net worth, helping you track progress toward your financial goals and identify areas for improvement.
- Make a financial plan: Whether you're at the beginning of your career or nearing retirement, outline both short-term and long-term financial goals to work towards your envisioned future.

Now that you've thought about your financial resolutions it's time to think practically about how to achieve them. It's important to set goals so you have something to measure your successes against.
To ensure success throughout the year, follow these principles when setting financial goals:
Specific: Define precise objectives, such as saving a specific percentage of your income. Determine an exact value like 10%.
Achievable: Set realistic goals that align with your income and financial situation. Socking away 1 million € in 2024 may sound amazing, but it may not be a realistic target for everyone.
Durable: Expect setbacks and challenges but remain committed to your resolutions, adapting as needed to stay on track.
Remember, while New Year's resolutions offer a fresh start, financial health should be a year-round priority. Regularly review your progress and make necessary adjustments to ensure you're on the path to financial success in 2024 and beyond.
Source:
New Year’s Resolutions Statistics (2024) – Forbes Health
Ten financial resolutions for the New Year | Empower
Disclaimer: The information provided in this article is intended for general informational purposes only. It is not intended to be, and should not be taken as, professional or financial advice.