Americans made quite a few successful money moves in 2021, and have much to celebrate as they toast the holiday season.
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.
Key findings:
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/
About MagnifyMoney
MagnifyMoney.com, a subsidiary of LendingTree, makes it easy for consumers to shop for the best financial products and get answers to their most important financial questions. MagnifyMoney’s unbiased advice and comprehensive product database helps millions of people compare credit cards, loans, checking accounts and savings accounts. MagnifyMoney’s newsroom of personal finance experts is dedicated to helping people save money and lead financially healthier lives through strategies and tips for avoiding fees, getting out of debt, paying off student loans, avoiding consumer scams and other financial topics. MagnifyMoney was launched in 2014, was acquired by LendingTree in 2017, and is based in New York, NY. For more information, please visit www.magnifymoney.com.
Media Contact:
Nadia Gonzalez
Nadia@LendingTreeNews.com
Source: https://www.prnewswire.com/news-releases/nearly-70-of-americans-celebrated-financial-accomplishments-in-2021-according-to-a-recent-magnifymoneycom-survey-301449256.html
