Survey: Top 2020 Financial Resolutions Are Saving More, Paying Down Debt & Spending Less

MINNEAPOLIS (WCCO) – Most American adults, from Baby Boomers to members of Generation Z, feel they're doing better financially, or at least holding steady, compared to last year.

This finding comes from a Fidelity Investments study in which more than 3,000 people were surveyed in October.

Overall, 39% of respondents said their finances were better this year compared to last, 43% said their finances were the same, and 19% said their finances were worse.

For those who said they're doing better, the keys to success were saving more money, working more hours, better budgeting and getting raises/new jobs.

Looking ahead to 2020, the top three financial resolutions for those surveyed were saving more (53%), paying down debt (51%) and spending less (35%). The main motivator of Americans making financial resolutions was to live a debt-free life.

Survey results in this study were gathered by Engine Insights, which is not affiliated with Fidelity, the financial services corporation says.