Brits' Resolve Falters as One in Four New Year's Resolutions Fail Already
For Immediate Release: 12th February 2008
31 million British adults made a New Year’s Resolution this year, but a quarter of resolutions failed within a month
Financially-themed resolutions were longer-lasting than personal ones, but only one in four people took professional advice to keep them
The start of 2008 has seen huge numbers of British adults deserting their good intentions yet again, with over one quarter of all New Years’ Resolutions failing within a month. According to research* from Unbiased.co.uk, the organisation promoting the benefits of independent financial advice, 31million (or 68%) Brits made a New Year’s resolution but only three quarters of resolutions are still intact.
Financial resolutions however, have proved more durable, as less than one in five (18%) of resolutions with a financial theme have fallen by the wayside already this year.
Of further interest is the fact that of the 14 million British adults who made a financial resolution, only just over one in four (27%) took advice on doing so, with less than a million taking the time to see their independent financial adviser.
Unbiased.co.uk’s annual New Years’ Resolution research shows that:
- 31 million British adults intended to start 2008 with a New Year’s resolution, but 25% of those resolutions failed before the end of January.
- Of those who embarked on a New Year’s resolution this year, nearly half (41%) hoped to lose weight, nearly a third (32%) wanted to do more exercise, one in five (21%) wanted to save more money, whilst just less than that (19%) vowed to reduce their debts.
- More women than men made resolutions (73% of women compared to 63% of men), and London and the Midlands are the worst areas for giving up their Resolutions’ early. Unsurprisingly, younger age groups are worse at keeping their resolutions than older generations.
[Please note that Regional and Age-Group breakdowns are available on request]
David Elms, Chief Executive of Unbiased.co.uk, commented, “It is encouraging to see how many people intend to get their finances in order in 2008, however it is all too easy to let good intentions go to waste. Setting manageable goals and seeking professional independent advice from an IFA could encourage you to persevere with your resolutions and improve your finances. It is also worth noting that consumers continue to value independent financial advice, as this research also shows that more people go to an IFA than a bank adviser to get advice on how to get their finances in order.”
At www.unbiased.co.uk/getsaving you can find details of how to get saving straight away and a budget calculator to help you better manage your money throughout 2008. To Find an IFA in your area who can give you expert advice on managing your money, go to www.unbiased.co.uk.
-ends-
*Research conducted by Opinium Research on a survey of 2036 GB adults between 1st and 5th February 2008. All information weighted to nationally representative criteria.
For further information please contact:
David Elms | Anna Schirmer/Jonathon Grove |
Chief Executive | Lansons Communications |
Unbiased.co.uk | 020 7294 3682 |
020 7833 3131 |
|
For expert comment or case studies from over 200 media-friendly IFAs, journalists should call Unbiased.co.uk’s Media Services hotline on
020 7294 3682 or search online at www.unbiased.co.uk/media
1. Independent Financial Adviser Promotion
Unbiased.co.uk is the consumer brand of IFA Promotion, the organisation established in 1989 to promote the value and accessibility of independent financial advice to the public. It represents around 9,000 firms of independent financial advisers across the UK, incorporating over 17,000 registered individuals. These individuals hold over 22,000 incremental qualifications which are each individually verified by the awarding body. IFA Promotion welcomes the prominent display of incremental qualifications and further developments into the credentials of independent financial advice.
IFA Promotion is sponsored by 28 leading financial institutions, and in the past 12 months, over 575,000 consumers and businesses used unbiased.co.uk 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 consumer’s 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.
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Aberdeen Asset Management
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AEGON Scottish Equitable Plc
National Savings & Investments
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New Star Investment Funds
AXA Life
Norwich Union Life
Bright Grey
Prudential
Canada Life Ltd
Scottish Life
The Children’s Mutual
Scottish Life International
Clerical Medical Investment
Scottish Widows Plc
Defaqto
Skandia UK Group
Friends Provident
Standard Life Assurance Company
The Hartford
Tomorrow
Invesco Perpetual
Unum
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