Brits to give up New Year’s resolutions three weeks into 2024, research reveals

Most Brits will give up on their New Year’s resolution less than three weeks into 2024, according to fascinating new research.

The average Brit will throw in the towel on January 19, according to a nationwide survey by Park Christmas Savings, with poor weather and new year blues cited as key reasons for giving in.

The study found that while more than six-in-10 people (61%) made a New Year’s resolution this month, a tiny 4% of the nation will actually stick to their pledge and see it through.

The give-in date of January 19 this year falls just three days after Blue Monday, which is often associated as the saddest day of the year due to post-Xmas blues.

Common resolutions typically include getting fit, travelling and learning a new skill. But the study found that this year forward planning for Christmas is at the top of Brits’ to-do list, with 38% pledging to start financially preparing for Xmas 2024 earlier.

That’s because nearly four in ten Brits say they are already worried about being able to afford this year’s festivities.

Last month, the average cost of Christmas fell from just over £900 in 2022 to £730 as families faced the rising cost of living. But inflation meant they faced a double hit, with less money to spend on festive food and gifts that had become more expensive.

According to psychologist and TV personality Emma Kenny, Brits can ease their Christmas stress through early planning – so those who have made saving their resolution definitely have the right idea.

“Being financially prepared for Christmas is a sure-fire way to at least ease the tension around the festive period,” said Emma. “Planning ahead and being as best organised as possible will give you a clearer head, meaning you can focus on the things that are most important to you!

“The research from Park Christmas Savings clearly shows that people do worry financially when Christmas comes around, so being in control of this from the very start of the year and making a plan for the following Christmas definitely helps come December.”

Katherine Scott, Director of Marketing for Park Christmas Savings, added: “For some time we have seen how the stress of Christmas can impact families. With prices continuing to rise people are already concerned about how they will pay for Christmas 2024.

“Keeping any new year resolution is hard, that’s why so many people will have given up by January 19. But we’ve been helping people put money aside safely for Christmas for 57 years, through good times and bad. We have customers who’ve previously gone into debt to deliver a family Christmas and now use Park to help them stop that happening again.

“We offer that extra support people need to stay motivated and flexibility to adjust your order if times get tough, making keeping your resolution to save for a fantastic Christmas a walk in the park.

“With Park Christmas Savings, you set your order value – which can be changed free throughout the year if you need to – and select the gift cards you want for Christmas. When the festive period approaches, your vouchers are sent out to be spent however you wish, be it on gifts, food, drink or nights out. Money is held in Trust through the year so it’s protected, ensuring that nothing can stop Park customers enjoying the Christmas they deserve.

“By signing up early customers can break the cost of Christmas down into much smaller, manageable monthly or weekly amounts.

“Spreading the cost of Christmas makes it much less daunting, so if you’re finding keeping your Christmas saving resolution tough, we can help.”

For more information about Park Christmas Savings visit: https://www.getpark.co.uk/budgeting/