Financial Optimism Reigns In The New Year

1999It seems like at the end of every year, people look back and say how difficult it’s been, and hope that the next year will be better. And this year seems to be no different, with people who may have been discouraged or pessimistic near the end of last year now looking ahead and seeing a rosy outlook.

Allianz Life’s New Year’s Resolution survey found that people are, in general, feeling good about their financial prospects in 2018. Only 36% of those surveyed felt that there could be another major recession this year, while 39% were optimistic that they’ll make more money, as opposed to 23% who foresaw making less over the coming year.

Folks are focused on their finances: 71% of survey respondents said getting their money game in top form was their priority this year, even more than getting in shape and minding their health. As for bad habits, the most-named one was “spending too much money on things I don’t need.”

Allianz Life’s vice president of consumer insights, Paul Kelash, provided his take on the survey results. “While Americans are concerned about the future state of the economy, the silver lining is they want to take action and control of their own financial fate. Even though one-third worry about a potential recession, optimism still rules the day.”

Good habits for a good new year

The survey found that people don’t just have a sunny outlook with no plans to change their behavior. Indeed, survey respondents had ideas about how to make their financial year a good one. The top plan was to build an emergency savings fund, or nest egg. Priority number two was to pay down credit card debt, create a budget, and put more money toward their retirement funds.

Not saving money and not paying down debt were other areas of concern for people, along with spending too much on unnecessary things. To remedy these bad habits, 28% of respondents said they’d consult a finance professional if they could. Nineteen percent felt what they really need is a therapist, while 15% want a lawyer, and seven percent prefer a career counselor. “Attaining financial stability should remain top of mind, no matter what the economy has in store for 2018,” said Kelash.

The Allianz Life New Year’s Resolution survey was conducted online in November 2017 and included responses from 1,000 adults.

Leave a Reply



Account Type:

Select Amount:

Select term:


  • No minimum balance
  • Competitive rates, No risk


  • High rates, Access to money
  • FDIC Insured