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New Year’s Resolutions spending: Brits prioritising wellness and personal finance for 2024

Posted by on 1 Jan, 2024 in Mental Health |

New Year’s Resolutions spending:  Brits prioritising wellness and personal finance for 2024

1 January 2024 – American Express today released its latest Amex Trendex report, focusing on New Year’s resolutions for 2024. According to UK data, 65% of Brits are likely to set New Year’s resolutions for 2024.

17% of Brits say they typically stick to their resolution for the whole year, lower than the global figure of 26%. 7% of UK respondents tend to only keep up their resolutions for the first week of January, while a further 18% will abandon them before the end of January.

Physical wellness is the top focus for resolutions, with 56% of UK respondents focusing on this, followed by 45% focusing on personal finance and 32% on mental wellness.

Physical and mental wellness

Quality of life was seen as an important factor in setting health and wellness resolutions this year. 79% of Brits said they were setting physical and mental wellness resolutions as they wanted to be healthier, 67% are looking to better their quality of life and 63% are aiming to improve their mental health.

In order to realise their physical wellness resolutions, 78% of UK respondents indicate they plan to eat healthier, while 68% say they want to focus on outdoor activities. Drinking less alcohol came in at number three for physical wellness resolutions with 35% saying they want to prioritise drinking less this year.

Unsurprisingly getting a gym membership (28%) and joining in-person fitness studios (19%), offering classes such as yoga, pilates or spin classes, were also amongst the top ways Brits plan to realise their physical wellness resolutions.

Of the 19% of respondents who are focusing on spa or health regimens, infrared saunas (36%), sound baths (31%), and gua sha facials (28%) were popular options.

Personal Finance

 Brits are also prioritising personal finance in 2024 with 45% factoring it in to their New Year’s resolutions. 50% are doing this to be financially independent and empowered. 42% want to focus on their personal finance goals as they’re saving for a holiday, while 28% said it was because they’re saving for a house.