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Americans reveal their top money goals for 2018: is yours on the list?

Alyssa Pry
Personal Finance Reporter

We’ve made it through the holiday celebrations and many of us have decided to start fresh when it comes to our finances. According to a new report by NerdWallet, 84% of people made money-related resolutions for 2018.

If you’re hoping to save money this year, you’re in good company: 60% of people listed saving money as their top goal. Paying down debt, sticking to a budget, and improving credit scores were other popular resolutions.

Millennials are the most ambitious when it comes to their financial resolutions, with 93% setting a money-related goal for 2018. Seventy-one percent of baby boomers reported to making a financial resolution, according to the NerdWallet report.

But, as anyone who’s resolved to hit the gym 3 days a week knows, making a resolution is different from actually keeping one. And sticking to your financial goals may be harder than you think. Of those who made financial resolutions in 2017, 21% abandoned their goals after just two weeks, while 74% held out for six months.

While it may seem daunting to reach your goals, people are feeling more confident when it comes to their finances. According to a study by Fidelity, 78% of people expect to be better off financially in 2018 than last year.

If you made a resolution and want to stick to it, experts recommend breaking up your larger goal into smaller, short-term goals. Make your resolutions clear and specific, and track your progress. And don’t get discouraged: having a setback shouldn’t mean failure. Pick yourself up, dust off those bank statements, and carry on!

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