Nearly 70% of Americans Celebrated Financial Accomplishments in 2021 According to MagnifyMoney.com Survey
Americans made quite a few successful money moves in 2021, and have much to celebrate as they toast the holiday season.
Financial product advice site MagnifyMoney’s most recent survey found that although many Americans accomplished their goals of paying off debt in 2021, many still have financial regrets from the year.
Nearly 70% of Americans celebrated a financial achievement in 2021. Paying off credit card debt and growing savings topped the list, followed by buying a car.
Despite these celebrations, 78% still had financial regrets. This was led by not saving enough money, spending above means and racking up credit card debt.
Fewer Americans are making 2022 financial resolutions. Just over a third of consumers (36%) are setting a money resolution for the new year, compared with 51% last year and 47% in 2019.
As in previous years, getting out of debt is consumers’ top financial resolution for the new year. That’s followed by increasing their credit score and saving more money.
More consumers say they’re worse off financially than this time last year. Of the respondents, 35% say they were better off last year, while 24% say they’re better off now.
However, two exceptions are Gen Zers and those earning $75,000 or more, who say their finances are better now than they were this time last year.
View full report: https://www.magnifymoney.com/blog/news/financial-resolutions-survey/
MagnifyMoney was launched in 2014, was acquired by LendingTree in 2017, and is based in New York, NY.
Copyright Today’s Credit Unions