BISMARCK, N.D. (KXNET) — New Year’s Resolutions are something that plenty of people hold themselves to… or at least, try to hold themselves to. Although many of us can plan to lose weight or seek therapy, the problem comes in actually following through on these goals. Finding time to implement a new hobby or routine in an already busy life can be extremely difficult — and even when we do try to maintain our hopes for 2023, other factors can sabotage the plans we have laid out.
Although past studies have shown that the most popular New Year’s Resolution in North Dakota is to save more money, when it actually comes down to the amount we intend on holding, our goals aren’t very lofty. In fact, according to a recent study, residents of ND are planning to save the least amount of any other state in the US in the coming year.
Couponing site CouponBirds surveyed 3,500 Americans from around the states to discover how much they intend on saving in the new year. Here in North Dakota, the average individual surveyed stated that wished to save $1,565 dollars in the entirety of 2023. While on the surface this looks like a reasonable goal, it’s one that pales in comparison to the country’s savings goals. The average amount that people across the entire nation intend to save is $8,082, leaving ND with a goal that’s both the easiest to obtain, but also one that’s extremely underwhelming compared to the US as a whole. Incidentally, the state aiming high in savings goals is Nebraska, which hopes to save an average of $16,093 this year.
It makes plenty of sense that these savings goals are reasonable, considering the rising price of living and constant inflation. In fact, $56 of people say that their savings goals this year are lower than usual. One’s relationship status can also have an effect on these goals — 64% of the survey participants state they need to keep a closer watch on their partner’s spending habits, but 51% also say they completely avoid any discussion of money with them.
Interestingly enough, CouponBirds’s study suggests that while we search for all sorts of different goals leading up to the new year, it’s the financial goal that many of us actually try to put into action once the new year rolls around. Of the surveyed individuals, 28% said that they intended to save money at the start of the new year, followed by exercising more, (24%), quitting smoking, (20%), meeting new people, (12%), reducing alcohol intake and learning a new skill, (both 4%).
When it comes to actually attaining these goals, though, less than half of the surveyed individuals say they’re confident they can do it. Only 39% believe in their own ability to complete these personal financial challenges. To this end, it’s important that one believes in themselves and sticks to routines that help maintain one’s saving habits.
“As we enter the new year, many of us make resolutions to improve ourselves and our lives. One resolution that can benefit us all is to start saving money,” says CouponBirds representative Tricia Smith in a press release. “Whether it’s setting aside a little bit each week or creating a budget to help us better manage our expenses, saving money can help us achieve our financial goals and give us peace of mind. So let’s make saving money a top priority in the new year, and see how far it can take us!”
To view the full study, visit this page.