New research from CBA shows most Aussies will look to make their money work harder this New Year, as CBA’s Chief Behavioural Scientist shares some science-backed-tips to stay on track.
New research published today by Commonwealth Bank (CBA) shows the majority of Aussies will set a money-based New Year’s resolution in 2024.
According to the latest YouGov research1, 76 per cent of Australians will make at least one financial resolution as they dive into 2024.
Almost one in four (23 per cent) said they would look to create a budget or improve their budget, three in ten (30 per cent) said they would plan to spend less, and one in eight (12 per cent) will look to change jobs in the New Year in a bid to earn more money.
Younger Aussies are notably more likely than older Aussies to have at least one New Year’s financial resolution (Gen Z and millennials 92 and 89 per cent respectively, compared to Gen X and baby boomers 74 and 59 per cent respectively).
CBA’s Chief Behavioural Scientist, Will Mailer, says CommBank and the behavioural science team are looking at ways to make it easier for customers to set financial goals, as well as follow through on them.
“It’s encouraging to see Aussie’s are thinking about ways to improve their financial health in the New Year, with the continued cost of living pressures potentially driving this.
“As a behavioural science team, we’re continually looking at ways to make it easier for customers to not only set financial goals, but also to follow through on them. Resolutions often fail to stick, however the science suggests there are some practical steps you can take to increase your chances of success in 2024,” he said.
Firstly, Mr Mailer recomm
