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Brits resolve to sort out their finances

Nia Williams

December 29, 2010

The survey of 3,000 UK adults, now in its third year, reveals that 64% of Brits plan to make resolutions for 2011. Health matters top the list this year with 55% resolving to lose weight while 49% want to get fitter. Financial matters still feature prominently in the behaviours people wish to change with 44% of those surveyed resolving to sort out their finances and pay off debts.

Two fifths of people make resolutions because they genuinely hope to change their behaviour, however, the survey also revealed that over half (54%) of New Year’s resolutions will be broken by the end of January with only 14% of people expecting to maintain their pledges between six to 12 months.

The 2011 Gocompare.com New Year’s resolutions survey also found that the most popular financial resolutions concerned saving money. Reducing outgoings topped the list (49%) while 30% of people wanted to get out of debt or reduce loan and credit card costs. Saving money for a deposit on a home was the third most popular financial resolution (28%).

Just over 10% of respondents say they have ‘buy a house or move home’ on their 2011 to do list while only eight% of people are resolving to put more into their pension.

John Miles, business development director at Gocompare.com commented, “Money worries are clearly very much front of mind still – the fact that more people are resolving to sort out their finances than ‘spend more time with their family’, ‘quit smoking’ and ‘reduce alcohol consumption’ put together tells us a lot about the economic outlook for 2011.”


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