Visa U.S.A. Releases New Year's
Resolution Research Results
Consumers Resolve to Keep Close Eye on Their Wallets in 2003
Managing Finances Better in the New Year Ranks Above
Losing Weight, Career Advancement and Breaking Bad Habits
San Francisco, CA - According to a survey
by Visa U.S.A., half of all Americans surveyed said they were
planning to make a New Year's resolution regarding better management
of their personal finances; this took priority over losing weight
(40 percent), quitting a bad habit (37 percent), and advancing
at work or in a career (31 percent).
"Traditionally, the new year is a time for re-evaluating
and setting goals, and we are pleased to find from our research
that Americans are looking at their finances with measured optimism,"
said Rosetta Jones, director at Visa U.S.A.
Despite this commitment to manage finances better,
only 33 percent plan to create a written budget and stick to it.
"We found a large number of people who closely
manage their day-to-day expenses; however, Visa wants to stress
to families the importance of setting long-term goals by creating
a written budget and carefully planning for the year ahead," added
Jones.
According to the survey, 53 percent said they want
to save for emergencies, and 56 percent vowed to monitor their
overall spending more closely in 2003.
There are a number of solid resources available
for the many consumers looking to improve their personal finances.
A free, online Web site from Visa can help make heads and tails
of financial matters - www.practicalmoneyskills.com.
"Along with lesson plans and interactive games,
the Practical Money Skills site now also features new
budget calculators that can be downloaded to help consumers
track expenses in the new year," said Ms. Jones.
More noteworthy findings:
- Personal security matters also rank high among Americans'
resolutions for the new year. Getting some kind of insurance
-- homeowner, health care, auto, or renter's -- ranked second
on the list of priorities after "get a physical exam."
- Only 35 percent of adults plan to invest more for retirement,
while 71 percent intend to "enjoy life more" each day.
Additional components of Visa's commitment to enhance
personal financial literacy include:
- Visa's Practical Money Skills for Life program (www.practicalmoneyskills.com)
was developed by teachers for teachers. Working with our partners:
Jump$tart Coalition for Personal Financial Literacy, the National
Consumers League, BigChalk, Lightspan.com, Inet Classroom,
Classroom Connect, U.S. News and World Report Classroom Program,
U.S. Hispanic Chamber of Commerce, and the National Association
of Consumer Agency Administrators, this cutting-edge internet-based
personal finance curriculum reaches more than 100,000 schools
and 37 million students. These financial literacy tools are
available in English and Spanish.
- In addition to providing a free personal finance curriculum,
Visa U.S.A. continues its efforts to bridge the digital divide
by donating computer equipment to schools in need and providing
training for teachers. During the 2002-03 school year, Visa
U.S.A. expects to continue this program by donating 10 computer
labs to ten high schools across the United States. To date,
Visa has donated more than 35 computer labs nationwide.
- In an effort to increase financial literacy of America's
youth, Visa is sponsoring the Practical Money Skills for
Life Educator Challenge for high school teachers that
teach money management in the classroom. The results will
be announced in the spring of 2003.
The Visa U.S.A. New Years Resolution Survey interviewed
1,000 adults in December 2002. The poll's margin of error is plus
or minus 3.1 percent.
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EDITORS NOTE: For a copy of Visa U.S.A.'s
New Year's Survey or to arrange an interview with a Visa spokesperson,
please contact Kristy Thomas at (703) 683-5004 ext. 136
