BETTER RESOLUTIONS THROUGH SCIENCE
THE PANDEMIC DOESN’T SEEM to have dampened Americans’ enthusiasm for linking a New Year to a fresh start. More than two-thirds of Americans plan to make a resolution for 2021, polls show, which is roughly the same as in years past. What has changed: The most common objectives for 2021 look strikingly different from traditional New Year’s promises, and attitudes about when, how and why to tackle key goals have changed as well.
The reason: More than half of Americans say their usual pre-COVID January 1 resolutions—think, hitting the gym more often or nabbing a big raise—aren’t applicable to their lifestyle anymore. Seven in 10 say they are tossing out materialistic pledges and instead looking to learn life skills, improve overall wellness or savor experiences, like time with family, according to a survey by Affirm.
And while doing a better job of managing money remains a top priority, what’s motivating people to make a financial change has shifted, too. Previously, the top reason people gave for pledging to adopt better money habits in a new year was to live a debt-free life, says Fidelity Investments, which conducts an annual poll on financial resolutions for the New Year. In 2021, this year’s survey found, they’re looking to achieve greater peace of mind.
“People want to feel like they’re moving forward and regaining control,” says Stacey Watson, senior vice president of life event planning at Fidelity.
Getting there, though, will take a lot more than good intentions. Research shows that people typically abandon their New Year’s resolutions within six months and the health, financial and social stresses of the first half of 2021, when the pandemic will still be widespread, will likely make sticking to your pledges even more challenging.
“Uncertainty and hardship related to COVID-19 may make it especially difficult to prioritize New Year’s resolutions in 2021,” says Charles Herrick,
