As 2025 approaches, a majority of Americans are focusing on financial stability amidst ongoing inflation and economic uncertainty. Fidelity Investments’ 2025 Financial Resolutions Study shows that 65% of Americans plan to set financial resolutions for the new year, with a practical approach to managing money
Short-Term Savings Take Priority
The study reveals a significant shift towards short-term financial goals, with 55% of participants prioritizing immediate savings over long-term plans. Notably, 79% aim to build emergency savings, reflecting concerns about unexpected expenses, inflation’s impact, and potential economic instability.
Unexpected expenses
- Inflation affecting daily expenses and savings
- Economic uncertainty and fears of a recession
Many participants believe having realistic goals with manageable milestones can make financial resolutions easier to maintain.
Younger Generations Lead the Way
Younger individuals are more likely to commit to financial resolutions, expressing optimism about their financial outlook in 2025. Nearly two-thirds of respondents feel they will be better off financially, citing peace of mind and living debt-free as key motivators.
Here are the Expert Tips for Financial Planning
The Ohio Department of Commerce’s Division of Financial Institutions (DFI) encourages these resolutions:
- Build emergency savings
- Save more for retirement
- Improve credit scores
- Manage debt wisely
- Create and stick to a personal budget
DFI also advises enhancing security measures, such as updating passwords and enabling two-step verification, to protect finances.
2025 is shaping up to be the year of “living practically,” as Americans aim for realistic and manageable financial goals. With a focus on immediate needs and a cautious approach to spending, many hope to navigate economic challenges successfully in the year ahead.
