• Print Page

Do your New Year's resolutions last or are you a serial resolver?

• Nearly 9 million UK adults make a New Years resolution
• Over half (4.8 million) make the same resolution every year
• A third (2.6 million) will lose their resolve within a week
• Over a third (3.5 million) of Britons aim to tackle their finances in 2005, but budgeting and advice is central to making best intentions last, says IFA Promotion

Nearly nine million UK adults say they will embark upon 2005 with a New Years resolution.  However, over half (54%) are making exactly the same pledge year in, year out, and one in three (2.6 million) will have lost their resolve within a week, reveals annual research* from IFA Promotion, the organisation promoting the benefits of independent financial advice.

The research, conducted by independent research agency, BMRB^*, on behalf of IFA Promotion, shows that overall next years most popular resolutions look set to mirror those of previous years:

• Over a third (3.5 million) of Britons aim to make financial resolutions for 2005
• A fifth of those making resolutions (1.9 million) want to give up smoking
• Going on a diet is a high priority, with 1.5 million people (17%) resolving to lose weight in 2005 six times as many women as men are making this one of their chief resolutions
• Keeping fit and healthy is also a priority with 8% pledging to exercise more next year and 5% vowing not to drink as much
• Nearly 4 million people (43%) will see their resolution fall by the wayside by the end of January, whilst a third (2.6 million) of peoples resolve wont even last the week, if this years perseverance levels are echoed in 2005

When quizzed further about their finances:

• Over a third (3.2 million) of those making resolutions plan to combat Christmas spending sprees by getting out of the red in the New Year
• One in ten (11%) want to sort out a pension and a quarter (28%) want to invest more money
• 1.5 million (17%) want to get on the property ladder as part of their financial goals for the year

David Elms, Chief Executive of IFA Promotion commented, While it is encouraging that people intend to focus on their finances as part of their good intentions for the New Year, what we really want to see is people sticking to these financial resolutions - rather than recycling the same unsuccessful aim year after year. Its important to set realistic targets for 2005 and by sharing your financial goals with an IFA you have a far greater chance of success that lasts for the whole year.

Call 0800 085 3250 or visit www.unbiased.co.uk/getsaving for IFA Promotions Join the Saving Revolution guide, looking at why we need to save, and how you can budget to save more, and options for where to put any extra money.  You can also obtain details of local independent financial advisers to talk through the most suitable savings options for you.

-ends-

*Research conducted by BMRB interviewing 1000 adults aged 16+ in November 2004

For further information, please contact:

David Elms, Chief Executive                    Chloe Merriman / Liz Willder

IFA Promotion                                            Lansons Communications

020 7833 3131                                          020 7294 3681 / 3677

david@ifap.org.uk                                     chloem@lansons.com / lizw@lansons.com

For expert comment or case studies from over 200 media-friendly IFAs, journalists should call IFA Promotions Media Services hotline on 020 7294 3682 or search online in Media Services at www.unbiased.co.uk

1.  Independent Financial Adviser Promotion

IFA Promotion was established in 1989 to promote the value and accessibility of independent financial advice to the public.  It represents over 10,000 firms of independent financial advisers across the UK and is sponsored by 30 leading financial institutions. In 2003, over 330,000 consumers and businesses used IFA Promotion to find local independent financial advice.

IFA Promotion believes Independent financial advice should be:

Affordable.  The option to take independent financial advice should be available, by right, to all - not just the wealthiest in society.

Convenient.  IFAs should be available in the location of the consumers choice, wherever they live in the UK.

Transparent.  It must be clearly transparent to consumers who is able to offer independent financial advice and who is not.

2.   Independent Financial Adviser Promotions sponsors