Americans are planning to focus more on financial stability next year than they have in past 10 years, according to a survey by Allianz Life Insurance Company of North America.
Financial stability was the top area of focus in the next year for 38% of respondents in the 2025 New Year’s Resolutions Study. That’s an increase from 33% in 2023 and more than in any year since 2015, the first year of the annual study. Millennials, more than other age groups, plan to focus on their finances with 44% listing financial stability as their top priority next year. Only 37% of Gen Xers and 33% of boomers made that choice.
Despite increased concern about personal finances, health and wellness was the top New Year’s resolution priority among Americans, with 45% citing it as their no. 1 focus next year.
“With the rising cost of living, Americans are prioritizing financial stability as part of their New Year’s resolutions in 2025 to achieve greater security in the coming year,” said Kelly LaVigne, VP of consumer insights, Allianz Life. “The new year is an ideal time for Americans to examine the status of their finances, write down their goals, and create a financial plan for the year ahead.”
Allianz reports that 24% of respondents said building up an emergency fund is the best way they can improve their finances in 2025. That’s up from 17% in 2023. Other means of improving personal finances include paying down credit cards (15%) and increasing retirement savings (15%).
Financial anxiety levels seem to be holding or creeping up, with 44% of Americans saying their stress is about the same as it was the prior year. Another 41% say they are more stressed. Only16% are less stressed. Among millennials, 52% are more stressed, compared with 37% of Gen Xers and 23% of boomers.
Asked what’s stressing them, respondents cite day-to-day expenses (54%), insufficient income or retirement income (49%), insufficient saving for an emergency fund (35%) and excessive debt (35%).
Most Americans admit to having bad financial habits, including excessive spending and no or insufficient savings.
30% spend too much on things they don’t need.
28% don’t save any money.
27% save some money but not as much as they could.
23% aren’t paying down debt fast enough.
21% say they spend more than they make.
However, many Americans are hopeful that their finances will improve in 2025. Allianz reports that 35% think their overall financial situation will be better, and 25% report that their overall financial situation improved in 2024.
“Americans who are looking to improve their financial health in 2025 can work with a financial professional who can help them create a strong financial strategy for their future,” LaVigne said. “That strategy can help decrease stress by providing a guide for how to curb excessive spending and prioritizing saving.”
