Financial ambitions are high for 2025, with many Americans setting their sights on saving more, earning more, and managing their budgets better. A new Discover Personal Loans survey reveals that over half of U.S. consumers plan to make financial resolutions, reflecting a strong desire to take control of their money in the year ahead. From building emergency funds to consolidating debt, the goals are as varied as the challenges they face.
Fifty-four percent of U.S. consumers plan to make financial resolutions in 2025, with saving more (42%), earning more (35%), and spending less (35%) emerging as the most popular goals. Other common aspirations include improving credit scores (27%), building emergency funds (26%), and consolidating or paying off debt (21%).
Budgeting is set to play a key role in these efforts, as 52% of respondents plan to adopt a budget in the upcoming year, compared to the 36% who created budgets in 2024. Those who succeeded in maintaining a budget reported feeling accomplished (46%), secure (38%), and prepared for the unexpected (38%).
Despite this optimism, many Americans anticipate challenges. Inflation (47%), unexpected expenses (39%), and economic uncertainty (38%) were cited as the top obstacles to achieving financial goals.
“I encourage those planning financial resolutions to take actions now to position themselves to achieve their goals in the year ahead. Think about, for example, creating a monthly budget that helps you save more or spend less; and setting up automatic transfers to a high-yield savings account to establish an emergency fund. Also, the interest rate outlook may give you the opportunity to refinance higher-rate debt. If you’re interested in exploring debt consolidation options, it’s a good idea to research and compare lenders that offer a great interest rate, with no origination fees or prepayment penalties,” said Dan Nickele, vice president, Discover Personal Loans.
Interestingly, 46% of Americans do not plan to make financial resolutions. Among them, 35% say they dislike resolutions in general, while 30% are satisfied with their current financial situation. Others expressed stress or uncertainty about finances as barriers to setting goals.
The survey also found that a majority of Americans have a cautious sense of optimism about their personal finances for the year ahead, with most saying they expect their situation to stay the same (45%) or even improve (36%). Younger generations are even more optimistic; 44% of Gen Zers and 45% of Millennials expect their financial situation to get better in 2025.
“It’s encouraging to see that so many Americans have a strong interest in improving their personal financial situations in 2025. Even if you’re not making a specific resolution, I would recommend taking any small step to get started on a path toward a brighter financial future – whether that’s saving for a specific goal or creating a game plan to manage your existing debt,” adds Nickele.
Nearly one-quarter (22%) of U.S. consumers created a budget in 2024 and stuck to it, which they say made them feel accomplished (46%), prepared for the unexpected (38%), secure (38%), relieved (37%) and confident (36%).
Fourteen percent of Americans created a budget but weren’t able to stick with it due to unexpected expenses (45%), inflation (34%), lack of money to set aside or save (32%), feeling overwhelmed with debt (25%) and unexpected life events (25%).
Meanwhile, nearly two-thirds (64%) of Americans say they didn’t create a budget in 2024, primarily because they didn’t want or need one (57%). Other reasons consumers say they did not create a budget include that their past attempts had not been successful (24%), it felt too difficult (19%) and that they didn’t know which method to use (19%).
2025 Budgeting Plans
Just over half (52%) of Americans say they plan to take at least one budgeting action in 2025, which includes working towards a specific financial goal (51%), following a specific budgeting strategy (29%), using an app or spreadsheet (28%) and working with a financial advisor or planner (20%).
Meanwhile, 25% of Americans do not plan to make a budget for 2025, and 23% don’t have a specific plan but say they will try to be generally aware of where their money is being allocated in 2025.
“I recommend consumers research common budgeting methods to help them choose an option they are most likely to stick with,” said Nickele. “For consumers who don’t plan to use a budget next year, I encourage them to financially prepare for the unexpected and to learn about options for managing any existing debt.”