Cutting down unnecessary spending is Moneywise users’ top resolution

1 January 2018

With 2018 starting many people will be looking at setting goals for the new year, and users have said cutting down unnecessary spending is their main financial resolution for the new year.

In our recent poll, nearly two in 10 (18%) voters selected this option from a list of 13 monetary goals.

Cutting down unnecessary spending was the most popular resolution when we ran the same poll in 2016, however then, nearly a three in ten (27%) of voters selected this option.

Starting or boosting cash savings remains the second most popular resolution as was the case in 2016, with over one in 10 (11%) setting this goal for 2018.  

This was closely followed by starting investing for the first time or boosting investments in a Stocks and Shares Isa (10%), paying off debts excluding mortgages (9%), starting or boosting pension savings (9%), and investigating ways to become more tax efficient (8%).

The least popular financial resolution for 2018 was to get on to the property ladder – with just 2% of people selecting this option. This was also the least popular resolution in 2017, when a larger 4% selected this goal.

See the full poll results in the pie chart below. 

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