The 5th annual
According to a release, only 16 percent of respondents said they would include financial planning in their resolutions for 2014, less than half of the 33 percent who said they would make financial planning a high priority when making resolutions in 2009, the first year of the Allianz Life survey. Furthermore, nearly half (49 percent) of U.S. adults surveyed said they are unsure about seeking financial advice in 2014, up from 44 percent the previous year.
One reason people feel more financially stable is due to an expressed trend that they are shedding some of their bad financial habits. Fewer of the Americans surveyed said: l am "spending too much money on things not needed," (down from 30 percent in 2012 to 26 percent in 2013), I am "not saving any money," (down from 30 percent to 27 percent) and I am "spending more than I make," (down from 18 percent to 14 percent). Additionally, more people said they are guilty of "none of these bad habits" – up to 28 percent in 2013 from 24 percent in 2012.
"Though Americans say their financial habits are improving, which is good, being a little smarter with money is not the same as true financial planning," said
Although the top reason the Americans surveyed gave for why they are going to ignore financial planning was a belief that they "don't make enough to worry about it," (30 percent) this response was down from 34 percent in 2009 and is the lowest level in the survey's five year history. In a bright spot, more people than ever (27 percent) said they already "have a solid financial plan," up slightly from last year (26 percent) and a full 4 percent higher than the 2009 response.
In the grand tradition of
The same emphasis could be seen in the resolutions that Americans surveyed believe they are most likely to keep. Exercise and diet came in first at 43 percent, down slightly from 44 percent the year before but still average for the five years of the survey. Managing money better came in second with 40 percent, also on par with the five-year trend. As in earlier years, spending more time with family and friends, volunteering and stopping a bad habit followed in that order.
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