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$11,534 is the 2023 savings goal for the average New Jerseyan, finds survey.
This compares to a national average savings goal of $8,082.
Nebraskans aim to save the most ($16,093); North Dakotans the least ($1,565).
2023 Savings Goals Across America
As the new year begins, it’s usually the time we start to think about what we want to do, or achieve, over the year ahead, and make some resolutions. Perhaps it’s to lose weight, quit smoking, or even save money – but if what we want is vague, it’s less likely to happen.
Indeed, studies that fewer than 25% of people actually stay committed to their resolutions after just 30 days and only 8% accomplish them.This Energy Fund Generated Solid Results In The First 11 Months Of 2022Statar Capital lost 2% for November, bringing its return for the first 11 months of 2022 to 12.22%. The energy-focused hedge fund had $3 billion in assets under management at the end of November and has generated a total net return of 310.8% since September 2018. In their November letter to investors, which was obtained Read More
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However, for those who have clear goals, particularly when it comes to finances, it is revealed that the average New Jerseyan plans to save $11,534 (which would be $961 per month) in 2023. That is according to a survey of 3,500 Americans by real time coupon and deals discovery engine, CouponBirds. This compares to a national average savings goal of $8,082.
The state which is setting itself the highest goal is Nebraska, aiming for $16,093 of savings next year. North Dakotans have set themselves the lowest goal, at just $1,565.
A New Year’s Resolution
The survey also found that saving money is the resolution most people are likely to make at the start of the new year (28% of us said we wanted to). This was followed by exercising more (24%), quitting smoking (20%), meeting new people and getting out more (12%), losing weight (8%), reducing alcohol intake (4%), and learning a new skill (4%).
But when asked how confident they are of hitting their new year savings goal, less than half (39%) say they are confident of doing so! Well, that hardly bodes well – you have to believe in yourself. When asked whether they set their savings goals independently, or with their partner, surprisingly half (50%) said they do it on their own.
56% of people say 2023’s savings goal will be adjusted (lower) due to inflation, and 64% say that they keep a closer watch on their partner’s spending habits in times of high inflation. 51% say they avoid talking about money with their partner altogether, because, inevitably, it can lead to arguments.
“As we enter the new year, many of us make resolutions to improve ourselves and our lives. One resolution that can benefit us all is to start saving money. Whether it’s setting aside a little bit each week or creating a budget to help us better manage our expenses, saving money can help us achieve our financial goals and give us peace of mind. So let’s make saving money a top priority in the new year, and see how far it can take us!” says Tricia Smith of CouponBirds.