Move over, weight loss. Money is top of mind for many Americans right now, and 48% say their New Year’s resolutions will include better money management, an Allianz Life survey said.

This represents a significant increase from last year, when 43% said a financial resolution was forthcoming, and even more so from 2021, when just 33% said they would take that initiative.

Despite a strong economy and rising wages, Americans feel bogged down by still-high inflation, especially at the grocery store, and high interest rates, according to the 2023 “New Year’s Resolutions Study.” The survey was conducted online in November and polled the responses of more than 1,000 nationally representative adults.

Millennials are feeling the pinch the most, as 59% of that group said they are adding a financial resolution to their intentions for 2024 compared with 39% of Gen X and 30% of boomers.

“Many people often know that their long-term financial strategy needs to improve but need help to take action,” said Kelly LaVigne, vice president of consumer insights at Allianz Life, in a statement. “The first steps often include creating a written financial strategy that can serve as a guide to achieve goals.”

The top actions Americans want to take have to do with increasing savings and paying down debt—17% want to build an emergency fund, 16% want to pay down credit cards, 17% want to put more to retirement, and 20% want to make a budget, the survey found.

This is on top of actions consumers have already taken in 2023 in response to their financial concerns. Some 36% of respondents said they already have reduced their spending, 23% have explored making additional income and 22% have established meal planning habits to reduce eating out, the survey found.

“For long-term financial stability, Americans need to have a plan to mitigate the effects of rising cost of living,” LaVigne said. “While inflation has slowed from recent highs, inflation isn’t going away. You need to protect yourself from inflation risk long-term.”

And for millennials, the repayment of federal student loans is weighing heavily, the survey found. Almost 20% of millennials said they have restarted paying their loans, and 82% of those say the payments are making it hard to make ends meet. Some 66% also said they will have to reduce retirement contributions to free up money to repay their loans.