americans focus on financial stability: 65% of Americans Embrace Financial Resolutions for 2025: Saving Smarter, Tackling Debt, and Preparing for the Unexpected

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.

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Unexpected expenses

• Inflation affecting daily expenses and savings

• Economic uncertainty and fears of a recession

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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:

• 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.

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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.

FAQs:

How are Americans planning to achieve these financial goals?
Most people are focusing on realistic and manageable goals, using smaller milestones and having clear plans to stay on track.

How does the Ohio Department of Commerce help in financial planning?
The DFI provides practical advice, such as managing debt, improving credit scores, and establishing emergency funds, to help individuals achieve their financial goals.