Americans Double Down on 2012 Savings Plans

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NEW YORK (MainStreet) – Every year around this time, Americans resolve to save more money in the year to come. But this time, it seems we really mean it.

Fidelity Investments just announced the results of its annual financial resolutions survey, which involved phone calls to more than 1,000 American adults in mid-November to ask about their money-related resolutions for 2012. And as usual, saving more money is the top goal, with 46% of respondents listing that as their top financial resolution.

But the eye-popping stat here is just how much they hope to save. When the company conducted the survey last year, the median respondent expressed a desire to save an additional $1,200 more than he or she did in 2010. This year, survey respondents doubled the additional amount they wanted to save, with respondents saying they plan to save $200 more per month than they did in 2011, or an additional $2,400 total for 2012.

Along with saving more, Americans are also aiming to keep more money in their pockets by spending less – for the third straight year it was the second most popular financial resolution. But now debt management is creeping up the rankings as an increasing priority for money-conscious Americans, as paying off debt has jumped to the third most popular resolution. The company notes that Americans have already made progress on this front, with 29% saying they are less in debt than they were last year. Data we’ve seen from major credit companies backs up this claim, as credit card delinquencies are significantly down from last year.

What are your money-related resolutions for 2012? Let us know in the comments section below.

—For the best rates on loans, bank accounts and credit cards, enter your ZIP code at BankingMyWay.com.

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