87 percent of Americans think they'll stick with their 2022 New Year's resolution: 4 tips to stay on track and save money

Here’s to new beginnings – and new resolutions!

A recent survey from TopCashback.com, the USA’s most generous cash back site, found that 51 percent of Americans are making New Year’s resolutions this year.

The survey polled a cross-section of 3,388 adults, aged 18 and over.

Cheers to “Checking it off”

Do you think you will stick with your resolution through 2022?

• Yes (87%)

• No (13%)

If no, how long do you think you’ll stick with it?

- One to three months (62%)

- Four to six months (18%)

- Less than one month (17%)

- Seven to nine months (2%))

- One year or more (1%)

How many resolutions do you typically make for the year?

• One (39%

• Two (35%)

• Three (18%)

• More than four (6%)

• Four (2%)

What category do(es) your New Year’s resolution(s) fall into? (Select all that apply) (top five responses)

• Health/wellness (71%)

• Personal growth (54%)

• Finance (52%)

• Relationships (24%)

• Travel (18%)

Shop ‘til the Ball Drops

Do you plan on shopping end-of-season sales (i.e. post-holiday sales, January/February sales)?

• Yes (82%)

• No (18%)

Once the holiday season is over, will you take a “break” from shopping (for non-essentials)?

• Yes (55%)

• No (45%)

If yes, how long will your break from shopping last?

- One to three months (59%)

- Less than a month (22%)

- Four to six months (14%)

- Seven to nine months (2%)

- One year or more (2%)

- 10 months to one year (1%)

Freshen up your Finances

Do you feel financially confident going into the new year?

• Yes (69%)

• No (31%)

Do you feel more or less financially confident heading into 2022 compared to 2021?

• The same as last year (41%)

• More confident (33%)

• Less confident (26%)

If less, why do you think you are less financially confident? (Select all that apply)

- Increased financial responsibilities [higher bills for rent, utilities, food, etc.] (67%)

- COVID-19 pandemic (48%)

- Changes in income (44%)

- More debt to pay off (29%)

- Other (16%)

And with 85 percent of Americans planning to spend at least $500 on equipment or accessories to help achieve their resolutions, here are four tips to keep your resolutions and finances on track in the new year from Rebecca Gramuglia, consumer expert at TopCashback.com.

• Set goals that YOU want to achieve. While you may hear about different financial goals that sound “good,” make sure that you’re working towards ones that you want to achieve – not ones that someone else says you should. If you’re focusing on your finances this year, start with one goal and slowly implement steps to achieve the others.

Pro-tip: Create goals that are measurable within a specific time frame (Ex: Save $1,000 by March 2022) along with a reasonable action plan to meet them.

• Plan your purchases. While you may face unexpected expenses or spur-of-the-moment purchases, do your best to plan any purchases in advance. Want to buy something at a specific store? Keep track of their “sale cycle” to see when you may find it at a lower price point (i.e. does the store run promotions at certain times of the year?). Once you’re ready to shop, layer on applicable coupons and credit card rewards. Plus, be sure to shop through a cash back site, like TopCashback.com, to earn a percentage of your money back on all qualifying purchases.

• Automate your savings. Pay yourself first and automate your savings to contribute to your other accounts this new year. By doing this, you’ll be putting money towards your goals and won’t be tempted to spend the money elsewhere.

• Use what you already have. Look at what resources you already have to help you save money, like your credit cards. When making a purchase, review the terms for your credit card(s) to determine which one will provide the highest rewards or cash back on your purchases. For example, does your credit card offer higher cash back on online purchases or at certain stores? Once you’ve accrued some cash back, you can even opt to use that money as a statement credit to knock a few dollars off of your bill.