This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

New Year's Resolutions Center on Finances

BOSTON ( TheStreet) -- After years of a near-zero savings rate for most Americans, 2010 may mark a turning point in how we put away money.

A recent survey by financial-services firm Edward Jones found that a third of respondents, both men and women, chose "increase savings" as their top financial resolution for the new year. Other financially focused goals, such as paying down debt (30%) and setting aside more money for a child's or grandchild's education (13%), also topped the list.

Additional resolutions were contributing more money to a 401(k) or IRA plan (9%), paying down a mortgage faster (7%) and begin working with a financial adviser (3%). Nearly twice as many men than women are planning to contribute more money to a retirement plan in 2010 -- 11% compared with 6%.

The survey, which contacted 1,014 participants in early December, indicates that age plays a role in financial attitudes. Respondents between 18 and 34 and those over 65 were most concerned about increasing savings. Middle-aged Americans placed a higher priority on lowering debt. Those age 65 and over said they were most concerned with providing educational funding for their children and grandchildren.

In terms of geography, southern states had the highest share of people who want to increase savings, but the lowest percentage who plan to add more money to their retirement plan. Residents of the north-central region said cutting debt was a higher priority than putting money into their child's or grandchild's education.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
AAPL $126.91 -0.54%
FB $83.62 0.64%
GOOG $533.97 -0.26%
TSLA $209.41 2.02%
YHOO $44.49 -0.37%

Markets

DOW 17,949.59 -85.34 -0.47%
S&P 500 2,097.29 -3.11 -0.15%
NASDAQ 5,014.1020 +19.50 0.39%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs