January 02 ,2018 | by Erin O’Neill

Moneywise reveals top 2018 financial resolutions for UK adults

Top 2018 financial resolutions for UK adults

Research from financial advice website Moneywise has revealed the top financial goals of its users for 2018. 

The website provided its users with 13 financial goals to find out which ones they would be making a priority in the New Year.

Priority

Moneywise found that cutting down on unnecessary spending was the top financial resolution for 2018, with 18 per cent citing this as their main priority. Whilst this goal also topped the website’s 2016 poll, it received more voters last time, with 27 per cent citing it as their main resolution for 2017.

Starting or boosting cash savings was voted the second most popular financial resolution for 2018, with this goal being set by 11 per cent of Moneywise users, whilst 10 per cent plan to start investing for the first time or boosting investments in a Stocks and Shares Isa.

Other goals included paying off debts excluding mortgages and starting or boosting pension savings, with both of these being cited by 9 per cent of respondents, whilst 8 per cent will be investigating ways to become more tax-efficient.

Boost

The study also found that 7 per cent of respondents will be looking to boost their income by making money in their spare time, whilst a further 7 per cent will focus on paying off their mortgage in 2018.

For 5 per cent of respondents, switching financial products such as energy or a current account will be their main goal, with this being followed by becoming a buy-to-let landlord (4 per cent) and starting peer-to-peer investing (4 per cent).

Getting on the property ladder was found to be the financial goal that Moneywise users are least bothered about achieving in 2018, with this being cited by just 2 per cent of respondents.

Erin O’Neill

Erin O’Neill is an LSBF News Writer who reports on small business, careers, technology and education news.

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