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New Year, new finances

27th January 2015 Print

Financial resolutions are a priority for 2015, with nearly a quarter (23%) planning to save more money, pay off debts or sort out their finances, according to research from AA Loans.

Improving finances is most important for under 35s with 61% saying they were making a finance-related New Year’s resolution. It’s a goal for more women than men, too (27% compared to 20% of men).

Last January, the AA found that one of the most common reasons for taking out a loan was to consolidate outgoings. Mark Huggins, Director of AA Financial Services suggests that the start of a new year prompts many people to focus on their finances for the year ahead.

He said: “Treating the New Year as a fresh start can be a great way to boost your financial situation. After the expensive Christmas period it can be the perfect time to be brave and look closely at bank and credit card statements, and start to plan outgoings for the rest of the year.”

Besides finances, improved health is the main goal for many with nearly a third saying their waist line would be the focus in 2015. The same number says they’re working to improve their fitness. Other resolutions include travelling more (15%) and carrying out home improvements (14%).

Top resolutions for 2015:

27% Lose weight

27% Improve fitness

23% Save money, pay off debts or sort out finances

15% Travel

14% Carry out home improvements

8% Learn a new skill

4% Buy a new car

4% Stop smoking

4% Find a partner

2% Buy a house

2% Overcome a fear

5% Other