Over 80% of British Columbians plan to make a New Year’s resolution for 2014, according to a BMO Wealth Institute study released December 31 – and more than four in ten respondents in the province say those resolutions will be related to their personal finances.
The study found that 42% of those surveyed in B.C. plan to make a financial resolution for 2014. This is six percentage points higher than the national average of 36%.
“It’s encouraging to see that so many Canadians will be making financial issues a priority in the upcoming year,” said Chris Buttigieg, senior manager, wealth planning strategy, BMO Financial Group. “Planning is essential to achieving your goals.”
According to the study, those who make financial resolutions are more likely to keep to these goals than those who make resolutions related to other areas of their life, such as fitness goals. Of all respondents across Canada, 60% said that they have kept resolutions related to their finances. By comparison, only 42% report sticking to fitness- or health-related goals.
Other areas of their lives in which British Columbians plan to make New Year’s resolutions include:
- personal resolutions: 38% (31% of all respondents across the country);
- romantic/love-life-related resolutions: 17% (19% nationally); and
- workplace resolutions: 23% (17% across Canada).
