In Principal's "Consumer Holiday Spending & 2019 Outlook," there's plenty to wonder at — when it comes to human behavior around money, that's always the case. The big budget-busters during 2018 were dining out and food purchases, with high-income earners ponying up for dining out, clothes and travel. Those on the low end of the income scale were more likely to overshoot the budget on gas and groceries. Blowing too much money, whatever the purchase, could definitely color one's holiday spending agenda. But even more interesting than consumer spending objectives around the holidays, there are cautionary tales to be found in respondents' financial resolutions for the New Year — and in their admitted financial blunders during the year that's nearly past. While their mistakes vary somewhat by age group, their resolutions vary both by age and sex. Women tend to make financial resolutions at a higher rate than men, mostly about saving and cutting spending, and millennials make more financial resolutions overall than any other age group — perhaps because they need them (or maybe still believe in them). Incidentally, says the report, boomers appear to be the most secure financially, since a surprising 27 percent of boomer respondents said they committed no financial blunders during 2018. Really? GenX, by the way, is the most worried about not having invested enough for retirement. Here's a look at the resolutions the financial hangover will bring -- the top 10 financial resolutions respondents intend to keep — at least for now — and a glimpse of some of the financial errors during 2018 that probably led to their determination to make 2019 more fiscally responsible. Incidentally, four percent of respondents selected none of the resolution options, and three resolutions tied with each being chosen by six percent of respondents. Also, 20 percent of respondents chose "None of the above" as their biggest financial mistake of 2018 — but there were plenty of others who admitted to a range of money mistakes. READ MORE: Your employees want their financial benefits to be more personal How to help millennials tackle major financial pain points Financial wellness in the age of anxiety
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Marlene Satter
Marlene Y. Satter has worked in and written about the financial industry for decades.
