Yes, Financial Resolutions for the New Year Do Work
We all know the drill by now: Make a New Year's resolution to lose weight or reduce spending or finally finish that novel. Fail in miserable fashion. Feel bad about yourself and scarf down a tub of double-chocolate ice cream.
It is enough to make you want to throw your hands up and not make resolutions at all. Like Cheryl Chen, a freelance writer in southern California.
"I used to do New Year's resolutions, and then never kept them," said Chen, 27, who stopped making resolutions altogether around three years ago. "I don't see the point in all the pressure. Everyone is always asking about them."
But before you swear off resolutions forever, check out new data from mutual fund manager Fidelity Investments. Fidelity's just-released New Year's Resolutions study discovered that making financial resolutions does, in fact, help get your fiscal house in order.
