In 2023, Poles will be more willing to invest than to lose weight

In addition to health and well-being, finances are the second priority when it comes to New Year's resolutions for 2023. About 40 percent. of Poles will make a New Year's resolution to put their finances in order in 2023 to fight the rising cost of living, according to new research by eToro.

• 72 percent of Polish respondents plan to make New Year's resolutions for 2023, of which 40 percent. will focus on financial goals (vs. 34% in 2022)
• Of this group, almost 40 percent wants to take extra work to increase his income
• Poles are most successful in implementing personal resolutions, while the goals related to the increase in readership most often end in failure

New Year's resolutions of Poles

Survey conducted among 2 adult Poles by the social investment network eToro showed that 72% of of respondents plan to make a New Year's resolution in the coming year, of which 40 percent chooses a money goal as one of his commitments. While health and well-being are still at the top of the list, goals related to fitness (24% vs 26% a year ago), hobbies (24% vs 27% a year ago) or self-development (35% vs 40% a year ago) a year ago) will be less popular in the coming year.

Among those who want to improve their finances, the most common goal is to save for an important purchase (39%) or take up additional work to increase income (39%). In turn, 37 percent want to manage the budget better, and 35 percent planning to start investing in your future. About 25 percent declared that they planned to invest more.

Paweł Majtkowski, Market Analyst at eToro, says:

2022 was a difficult year for our finances, and the next one may be even more difficult. It is therefore not surprising that financial decisions are among the most important decisions we make. And as you can see, our resolutions are very practical, because as many as 39 percent of respondents declare that they would like to take up additional work to improve their income. This is dramatic evidence of how inflation drains our wallets by reducing the real value of wages and our savings. For many people, the only way to maintain their current standard of living may be to take on extra work. However, we must not forget that extra work means less time for yourself and less opportunity to implement other important New Year's resolutions.

Time to tighten your belt?

As much as 65 percent of respondents say they have fulfilled their New Year's resolution in 2022. Those who did not cite rising cost of living (64%) and spending too much (59%) as the main obstacles, followed by inflation (55%). Only 6 percent mentioned procrastination. This shows that the difficult economic situation we are all experiencing continues to have a major impact on our financial results throughout the year.

Paweł Majtkowski adds:

We are also looking for other opportunities to improve our own finances. As much as 37 percent of respondents plan to better manage their household budget. For many of these people, this means that for the first time they will start to record their expenses, analyze them and improve the way they spend their money. And this is important, because in every home budget, even the tightest, there are some reserves that can be used. In difficult times, it is worth reducing expenses in a wise and effective way, which is very helpful to have a home budget.

close to 35 percent of respondents plan to start investing for the future in the new year. It is important not to postpone this moment, even if times are difficult and our budget is tight. To start investing, even PLN 100 per month is enough. Let us remember that investments and savings will support us in the future, should economically more difficult years appear again. It is also important that we support our loved ones, family and friends in their New Year's financial resolutions. It is much easier to keep our resolutions when we have the support of other people or share our foundations with them.