Americans are more concerned about their waistlines than their wallets when it comes to making New Year’s resolutions, according to the sixth annual New Year’s Resolution Survey released Monday by Allianz Life Insurance Company of North America.
The focus on fitness over finances has been a recurring trend in Allianz surveys. This year, 49 percent of respondents say health and wellness is the most important focus area for the upcoming year, up from 43 percent in 2013 and matching 2011's number.
In comparison, only 30 percent of 1,004 respondents choose financial security as their top focus for the next year and only 15 percent said they will include financial planning in their New Year’s resolutions, compared to 33 percent who said they would include it in 2009.
“With a healthier U.S. economy, continued market strength and lower unemployment, people have forgotten the trauma they experienced in 2008-2009 and have more confidence in the state of their finances,” says Katie Libbe, vice president of Consumer Insights for Allianz Life.
“Things are looking up, but that can change overnight and it’s important that people take the time to review their current financial situation and determine if any changes are necessary that can help them meet both short and long-term goals,” she warns.
The one area that shows improvement is that 23 percent of respondents said they are more likely to seek the advice of a financial professional in 2015, up from 19 percent in 2013.
When asked if they could receive free assistance from a professional, the largest group, 36 percent, selected financial professional as their top choice.