Majority of Americans want to improve their money habits in 2025 heres how theyre doing it

According to a recent survey, the majority of Americans want to improve their financial habits in 2025.The survey of 2,000 Americans also found that more than four in 10 (42%) predict they’ll have a “holiday hangover” this year.Nearly half (49%) are planning to hibernate in January, to be less active and social, and to spend less money after the 2024 holiday season.Commissioned by global savings platform, Raisin, the study found that along with 65% hoping to improve their money habits in 2025, more than a quarter (26%) would like to improve their financial literacy in the new year. To illustrate this lack of financial literacy, more than one in four of those surveyed (26%) don’t know what interest rate they’re getting from their bank or financial institution. When quizzed, most (59%) didn’t know what APR (annual percentage rate) meant, 78% were confused by the abbreviation APY (annual percentage yield) and 79% did not know that ROI stands for “return on investment.”Survey respondents also weighed in with their general reflections on 2024, and more than half of respondents (54%) said that 2024 “got away” from them. Additionally, most (89%) did not accomplish everything they set out to in 2024.The most common incomplete resolutions from last year turn out to be not saving enough money (51%), not being as fit and active as planned (38%), not traveling enough (32%), and not spending money thoughtfully enough (31%). Most (55%) are planning on taking a “slow living” approach to 2025, and on average, those respondents plan to slow their lifestyles down by 33% in the new year. More than four in ten Americans (44%) plan to partake in Dry January and another 44% are doing a “no buy” challenge (only spending money on what’s absolutely necessary) in January.“One of the first steps to improving your finances is to build upon your financial literacy,” said Cetin Duransoy, chief executive officer at Raisin.“And don’t feel bad if this se...