Stories | January 5, 2015

Five tips to help make your New Year resolution last until December

As the New Year dawned, 77% of people in Europe making a resolution planned to have one on a financial matter, our survey shows.

But despite the good intentions in January, following through on a pledge to save more, cut spending or pay down debt is difficult.

The ING International Survey on Christmas and New Year 2015 found that only about half – or 54% – of of about 12,000 European consumers who had a financial New Year resolution in 2014 say they kept it. People in Italy were least likely to keep their financial resolution in 2014 (at 47% of Italians who made one), while the Dutch were most likely (71%).
Cultivating new habits can take time – with some studies suggesting they take about two months to stick – so it can pay to be patient if resolutions are difficult at first.

Was it achievable?
Setting goals at any time of the year can be a good thing – and the New Year serves as a reminder to make goal setting a priority.
1. Setting a goal that is achievable is a good first move
2. Try breaking progress into small steps
3. Set concrete terms including a timeframe (such as saving €1200 in a year) rather than something indefinite (such as “save more”)
4. If you need extra motivation, tell friends and family about it and use peer pressure in a positive way to help keep on track
5. Have a reward in mind that will be a sweetener when it’s done – an added incentive – or if you’re up for it, a price to be paid if it is not reached (such as taking out the rubbish for a month).

Our fun flowchart on New Year resolutions explains.

Goal setting

This article is related to the ING International Survey:

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