How 65% of Americans are Determined to Improve Their Money Habits in 2025

January 12, 2025 journo

According to a recent survey, a wide majority of Americans want to improve their financial habits in the coming year.

The survey of 2,000 adults found that 65% are hoping to improve their money habits in 2025.

Nearly half (49%) are planning to hibernate in January, to be less active and social, and to spend less money after the holiday season.

Commissioned by global savings platform, Raisin, the poll also found that one in four respondents (26%) would like to improve their financial literacy this year.

This lack of financial literacy shows up, for instance, in 26% of those surveyed who don’t know what interest rate they’re earning from their bank or financial institution.

When quizzed, most (59%) didn’t know what APR (annual percentage rate) meant and 78% were confused by the abbreviation APY (annual percentage yield).

Respondents in the poll, conducted by Talker Research, also weighed in with reflections on 2024, with 89% saying they’d not accomplished everything they set out to in 2024.

The most common resolutions from last year left undone include:

Not saving enough money (51%)
Not being as fit and active as planned (38%)
Not traveling enough (32%)
And, not spending money thoughtfully enough (31%)

In fact, 44% said they were challenging themselves in January to only spending money on what’s absolutely necessary.

29% of respondents said they would pause dating or going out to restaurants and estimated they would save over $3,000, on average.

“If you’re not consciously budgeting and spending, the dollars quickly add up,” said Cetin Duransoy, CEO at Raisin.

“It’s so important to have a solid financial plan in place. That way you can be intentional and spend on what brings you joy while working towards financial security.”

“Finance can be an intimidating topic, so ask for help, if needed, from a trusted family member, friend, finance expert, or institution.”