22 December 2014

What's top of your New Year's resolutions in 2015?

We’re approaching the New Year. A time for change and something new. What’s top of your resolutions list for the months ahead?

Here we discuss the most popular resolutions, offer some top tips for sticking with them, and look at how much you could save by giving things up. Read our feature and accompanying infographic.

Most popular resolutions

According to research by Valued Opinions in January 2014, the most popular New Year’s resolutions are:

  • To eat healthily and exercise regularly (40%)
  • To save money (18%)
  • To learn something new (12%)
  • To enjoy a better work-life balance (8%)
  • To drink less (6%)

How to stick to them

So if you find your willpower waning only a few weeks into January, consider these top tips for sticking to your resolutions:

Do it with a friend – you’re more likely to stick to your New Year’s resolutions if you partner-up with a friend, according to a 2012 study funded by the Economic and Social Research Council.

Set goals and measure progress – setting clear goals that you regularly review can help you keep on track with your resolutions. January 2014 research from the British Psychological Society found people who planned what they wanted to achieve and revisited their goals often, identifying what worked and what didn’t, were much more likely to succeed than those who didn’t.

Pick resolutions that are realistic – if you want a resolution to stick, pick something achievable and manageable. Opting for “lofty goals and aspirations” is unlikely to work.

How much you could save

Cut down on your drinking – drinkers spend about £757 a year on alcohol according to September 2014 research from Macmillan Cancer Support. Men spend an average of £934.44 per year, the research found, compared to women who spend £678.60.

Stop smokingaccording to public health charity Ash, in 2014 a smoker of 20 cigarettes a day will spend about £2,900 a year on their habit. With the price of tobacco spiking by 80% from 2003 to 2013, giving up will be good for your health and your pocket.

Limit takeaways – the average Briton spends £110 a month or £1,320 a year on takeaway food, according to April 2013 research from Vouchercodes. With men eating an average of 151 takeaways a year and women 126, eating healthier food should see you lose a few pounds as well as save money.

What you could do with the money

Knocking the drink and cigarettes on the head and going easy on the takeaways would save you up to £5,000 a year. With that you could choose to Save or invest. One option you might use to make the most of your new savings is to put them in to a savings account, tax-free Cash ISA or explore some investment options.

We also have a range of guides designed to help you get to grips with saving, whether it’s around building a safety net for a rainy day, exploring tax-free savings or just simply how to make the most from your savings in general.

Adding a savings goal to your 2015 New Year's resolutions? Nationwide have a range of Savings accounts and ISAs which may help your savings work harder.

News years resolution infographic

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