Many resolutions don't last, financial advisers find

Thu, 26 Jan 2006

Make them and break them – that seems to be the trend when it comes to Britons' new year's resolutions.

At the beginning of 2006, more than half of UK adults intended to start saving money, says IFA Promotion, the organisation promoting independent financial advice.

Another 55 per cent intended to budget for their outgoings, while nearly a quarter are planning to become first-time buyers.

Losing weight and giving up smoking were other popular goals for the seven million Britons who planned to stick to their new year's resolutions in 2006.

However, IFA Promotion found that by the end of January, the good intentions of nearly three million people have already gone out the window.

"It is very encouraging to see so many people starting the year with resolutions - especially financial," says the marketing director at the organisation, Karen Barrett.

But she admits that it can be easy to let these intentions slip, with many people finding themselves unable to stick to their ideals.

Ms Barrett says that an independent financial adviser could encourage those hoping to start saving money to persevere with their resolutions, thereby improving their financial situation.

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