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

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

·         Nearly 7 million British adults will make a New Year’s resolution for 2006

·         A third (3.5 million) make the same resolution every year

·         One in five (1.8 million) will lose their resolve within a week – if last year’s behaviour is repeated

·         Nearly half (46%) 3.2 million aim to tackle their finances in 2006, but budgeting and advice is central to making best intentions last, says IFA Promotion

Nearly 7 million British adults (15%) say they will embark upon 2006 with a New Year’s resolution.  However, over a half (3.5 million) are making exactly the same pledge year in, year out reveals annual research* from IFA Promotion, the organisation promoting the benefits of independent financial advice. One in four (1.8 million) will also have lost their resolve within a week – if last year’s behaviour is anything to go by.

Amongst next year’s top resolutions are personal finances with nearly half (46%) intending to resolve their financial situation – a 15% rise from 2005. However, on the whole, the research shows that overall next year’s most popular resolutions look set to mirror those of previous years:

·          Nearly half (3.2 million) aim to make financial resolutions for 2006 – up from 40% last year last year

·          Nearly one in ten (8%) of those making resolutions want to give up smoking

·          Losing weight and eating more healthily is a resolution for one in five (19%) – this is true for over a quarter (27%) of women compared to just 10% of men

·          Nearly one in ten (8%) are pledging to exercise more next year yet only 4% are vowing not to drink as much – perhaps we are not ready to leave our binge drinking ways behind us?

·          3.7 million people (39%) –will have lost their resolve by the end of January, whilst a fifth (1.8 million) won’t even last the week, if this year’s ‘perseverance levels’ are echoed in 2006

Next year’s financial goals:

·   Over a third (2.7 million) of those making resolutions plan to combat Christmas spending sprees by getting out of the red in the New Year

·   One in ten (1.2 million) want to sort out their pension and a third (34%) want to invest more money

·   1.5 million (23%) want to get on the property ladder in 2006

·   Saving and budgeting looks to be ‘de rigueur’ for 2006 as 53% and 55% respectively want to embrace these financial habits

Karen Barrett, Marketing Director of IFA Promotion commented, “It is encouraging that people intend to focus on their finances as part of their good intentions for the New Year, but what we really want to see is everyone sticking to their guns. In 2005 it became clear that more and more responsibility will be placed on the individual to ensure their financial situation is well organised, both for now and for the future. It’s important that people set realistic targets for 2006 achievements and by sharing your financial goals with an IFA you have a far greater chance of success that lasts for the whole year and beyond.”

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

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*Research conducted by BMRB interviewing 1000 adults aged 16+ in October 2005

For further information please contact:

                                        KarenBarrett                                      ChloeMerriman/Holly Godden

Marketing Director                              Lansons Communications

IFA Promotion                                    020 7294 3681 / 020 7294 3674

020 7833 3131

    For expert comment or case studies from over 200 media-friendly IFAs, journalists should call IFA Promotion’s 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 around 9,000 firms of independent financial advisers across the UK and is sponsored by 32 leading financial institutions. In the past 12 months, over 530,000 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 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.

2.         Independent Financial Adviser Promotion’s sponsors

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