Top financial resolutions for 2012

Spend less, eat less and drink less are just a few of the staple resolutions which appear on many lists for Brits up and down the country at this time of year.

Yet, as far as 2012 goes, many are also taking a hard line on personal finances.  According to research by rplan, the financial planning website, 75% of Brits have made financial resolutions for the year ahead.

One in seven UK adults say their household is £500 or more worse off, per month, than in 2011. This is bad news for those already struggling to cope with the increasing strain on household finances.

In a poll of over 2,000 adults, the research found that more than one in two planned on cutting back their spending. Women are more likely to try this than men, with 59% of them saying they wish to cut back compared to 50% of men.

More than one in three people are going to try and save money each month, whilst 36% said key resolutions this year including the reduction of debts. There is also a difference between the financial woes of the young and older generations.

The research found that those under 35 are more focused on saving, whereas the over 35s’ top priority was to cutback on spending and reduce debts.

Andy Creak, Managing Director at rplan.co.uk, commented: “The last year has presented most adults with a near-impossible juggling act, many trying to make cut backs on a shrinking disposable income, whilst also trying to put money away to support the needs of family members.”

Top 10 financial resolutions for 2012

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2012-01-09 15:50:30 © Moneyextra.com