Why Financial Resolutions Fail: New research reveals the key obstacles to Success

Getty Images (NewsUSA) – As the new year approaches, many people will be setting financial resolutions with hopes of improving their financial health – whether it’s saving more, paying down debt, or investing wisely. However, despite the best of intensions, new research by financial services firm Edward Jones reveals that a variety of factors often prevent these resolutions from sticking. According to the research, more than half of Americans (56%) who made a financial resolution in 2024 abandoned it because of price increases caused by inflation. While those surveyed expressed optimism about keeping their financial resolutions in 2025, more than half (55%) said inflation was their main challenge to financial accountability in 2024, and nearly the same (56%) expressed concern that inflation could derail their financial goals in 2025. “Sticking to your financial resolutions can be incredibly challenging, especially when inflation puts added pressure on everyday expenses,” says Bryan Piccirillo, Financial Advisor at Edward Jones. “In a climate where costs are rising faster than wages, it’s more important than ever to set realistic financial goals, even when the odds seem stacked against you.” Across generations surveyed (from Gen Zers to Baby Boomers), Americans said they are confident (81%) in their...