Are Your Resolutions Financial?

It's nice to have curious brokerages around. TD Ameritrade (Nasdaq: AMTD ) recently released the results of a survey it commissioned asking Americans about their New Year's resolutions. It seems that fully 69% of respondents plan to save more money in 2008, while 57% aim to pay down their debt and 46% want to cut back their spending.

That's the good news.

Here's the bad news
But every silver lining has a cloud, right? The survey also offered some less encouraging news:

Roughly half of all financial resolutions are abandoned within a month.
Among those who make these resolutions, 85% of women and 76% of men are likely to break them before year's end.

If you wonder why these resolutions get broken, one reason is offered by the survey: fear. Fifty-three percent of women and 34% of men admit that investing is scary. That doesn't surprise me. After all, few of us were ever taught about financial matters in school, and we've grown up assuming that many others know much more about investing than we do. Your neighbor might brag about one good investment, but his overall portfolio returns might be negative. He might have bought his Lexus with credit card debt he can't easily repay.

Take action
Fortunately, all isn't lost. Tending to your financial garden doesn't have to be like brain surgery. Here are some Foolish resources you can use to make and stick to your resolutions:

Trying to get your debt paid down? Our Credit Center can guide you through paying off credit card debt and can help you make the most of credit and debit cards.
Need an emergency fund? Head to the Savings Center to sock away your short-term money in effective investments.
Want a simple investment? The simple broad-market index fund gets you quickly invested into hundreds or even thousands of companies. It's a great place for money you won't need for five or 10 years.
Want to buy some individual stocks? Check out our Broker Center to find the best broker for your money.

So bring good news to your New Year's by following through on your resolutions today. Best wishes for a great 2008!

Help us in our goal to give every young person around the globe a financial education! Learn more about the new direction of Foolanthropy, now in its second decade, here.

Best Odds in the Universe!
If you're interested in a 98.79% chance at beating the market... and a 70.84% chance at DOUBLING the market's return – Motley Fool Supernova could be just what you're looking for. And get this: We arrived at these odds from 10,000 random back-tested portfolios composed of Motley Fool Co-founder David Gardner's personal stock picks.

It's why David recently handpicked a small team of world-class portfolio managers. You see, he thinks these odds can get even better! And he'd like to prove it to you...

Simply enter your email address. And the answer to the question everybody is asking will be delivered to your inbox!

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment icon found on every comment.