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As much as 65 percent of Poles fulfilled their financial resolutions in 2022 

As much as 65 percent of Poles fulfilled their financial resolutions in 2022 

created Forex ClubDecember 29, 2022

The year 2022 has brought serious challenges to our home finances. However, despite inflation, increase in the cost of living and additional expenses, more than 65 percent. of Poles say they have fulfilled their New Year's financial resolutions from last year. Only the Danes are better at this than us, and worse implemented their resolutions, among others. Germans, Americans and French.

Poles at the forefront of the study

According to a global study eToroattended by 25 of respondents from 13 countries in Europe, North America and Australia (including 2 from Poland) fulfilled their financial resolutions in 2022 in all countries 58,7 percent. respondents. The highest percentage of implementation was recorded in Denmark (66,2%), Poland (65,1%) and the Czech Republic (64,2%). The least effective were the Australians (54,7%), the French (53%) and the Italians (44,7%). Italy is the only country where the majority of people did not achieve their resolutions in the past year.  

How many percent of respondents declare that they have fulfilled their financial resolutions for 2022
Denmark 66,20%
Poland 65,10%
Czech 64,20%
Great Britain 64%
Spain 62,40%
The Netherlands 61,10%
Germany 60,90%
Global 58,70%
USA 58,50%
Romania 57,10%
Norwegia 57%
Australia 54,70%
France 53%
Włochy 44,70%

Source: eToro

Health, development and… finances

A year ago, 67,1 percent made financial resolutions for the New Year. Poles. Finance was the third most important area in which we set such goals, right after health and personal development. Most often, we planned to start saving for the purchase of an important thing (40,2%), increase income by finding an additional job (37,1%) and start investing for the future (36,5%). As much as 23,5 percent. of respondents wanted to invest more than before. These goals were achieved by almost 2/3 of the respondents.

The difficult year 2022 meant that in the case of resolutions for 2023, finances become the second most important area. Health remains more important, while personal development falls to 3rd place. It also increased to 72,2 percent. (from 67,1%) the percentage of people who declare New Year's resolutions at all. 

Financial New Year's resolutions of Poles 2022 vs 2023
2022 2023 Change
Stick to your budget 34,50% 36,70% 2,20%
Pay off the debt 31,40% 28,50% -2,90%
Start investing for the future 36,50% 35,10% -1,40%
Invest more 23,50% 24,90% 1,40%
Build a rainy day fund 23,30% 24% 0,70%
Save more for retirement 15,60% 16,10% 0,50%
Save for the purchase of an important thing 40,20% 38,40% -1,80%
Take extra work 37,10% 38,40% 1,30%

Source: eToro

Among the resolutions for 2023, those related to compliance with the budget, increasing the amounts invested, building a financial safety cushion and saving for retirement appear more often. During times of high inflation, one of the two most popular resolutions is to find extra work to increase your income. Poles came to the conclusion that in the period of a significant increase in the cost of living, additional work is the only effective way to improve the home financial situation.

About the author

Paweł Majtkowski - eToro analystPawel Majtkowski - analyst eToro on the Polish market, which shares its weekly commentary on the latest stock market information. Paweł is a recognized expert on financial markets with extensive experience as an analyst in financial institutions. He is also one of the most cited experts in the field of economy and financial markets in Poland. He graduated from law studies at the University of Warsaw. He is also the author of many publications in the field of investing, personal finance and economy.

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