GREENSBORO, N.C. — In the new year, I'm most worried about.....
Health? Finances? Both health and money are at the top of most New Year's resolutions. WalletHub surveyed about 230 people about New Year's resolutions.
Health topped the list of most likely resolutions to be made with 61% and finances was second at 47%. At the same time, 40% said a health resolution was least likely to be kept and 28% said a financial resolution was least likely to be kept.
"I think the financial is more of a struggle because there is less control over that to a certain extent. There are certain things you just need to buy to get by from day to day and if the prices are high and you have to take more from savings or paying down your debt then that has a snowball effect," said Cassie Happe, WalletHub analyst.
According to the survey, one in four people think 2024 will be worse for their wallet than 2023 was. The main indicator for that-- inflation.
When WalletHub asked survey folks what the magic number was for giving up their top vice for a year, the answer was
$176,550. That number was even surprising to the WalletHub folks.
"That's just for giving it up for a year, that's not saying for a lifetime. It's crazy that it would take that much money for people to give up these vices," said Happe.
What does the average household have in savings versus how much debt? According to WalletHub, it's $8,000 in savings and $10,263 in debt.