Money matters: 3 out of 4 fear inflation will ruin their financial goals for 2022

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NEW YORK – Make a note of the calendar: Two-thirds of Americans are driving up to 2022 to become more financially stable.

A poll of 2,000 U.S. residents found that 76 percent have a New Year’s resolution focused on being smarter with their finances, compared to 73 percent who said the same last year. This optimism comes from the fact that 62 percent of respondents think 2021 was easier on their finances – twice as many people who said 2020 will be painless for their wallets (31%).

While half of the respondents (47%) saw financial difficulties in 2020, only 15 percent said so this year. However, more than four in five (83%) Americans are concerned about inflation and 76 percent fear it will mean a huge setback in meeting their financial goals for 2022. People’s employment status can also play a role in how they view their finances. 76 percent had a full-time position in 2021, compared to 58 percent in 2020.

The survey, commissioned by Slickdeals and conducted by OnePoll, aimed to compare and examine personal financial goals through 2022 with the results of a similar survey through 2021.

Half of Americans want to get rid of their debts

The study also found that three in four (76%) believe they can build more wealth in the New Year by fixing their current financial problems. The best way to do this, according to respondents, is to get rid of debt (50%), remove unnecessary bills (47%), and look for deals or coupons while shopping (44%).

More than three-quarters (77%) acknowledge that greater financial responsibility means changing their shopping habits, despite 65 percent admitting that they exaggerated their spending in 2021. Most respondents (83%) believe that financial stability can have a positive impact on their lives.

“The New Year is a great time to review your financial scorecard for the past year and then set improvement goals,” Louie Patterson, senior finance editor at Slickdeals, said in a statement. “It is promising that Americans are optimistic about their finances through 2022 and that some simple tweaks in the New Year can help them achieve their goals even faster.”

Shop smarter in 2022

New Years Finances77 percent of respondents believe it is easier to save money when they are smarter with shopping. For many, that means putting more money on the side every month. The average person saved $ 328 per month in 2021 and is now hoping to save $ 408 per month in 2022. However, saving can also include using more coupons or promo codes. In 2021, the average person was using 13 coupons or promos per month, up from 10 per month in 2020.

Respondents shared that when shopping responsibly, they consider several factors, such as z%). Three in four (74%) say a company’s ethics also play a role in determining whether or not to buy from them.

“Saving more money doesn’t always mean drastically changing your daily lifestyle. Simple changes like removing unnecessary subscriptions or finding more deals and discounts while shopping can result in big savings, ”Patterson added. “Leveraging our community of savvy shoppers, consumers can quickly meet their financial goals for the new year.”

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