Americans Are Ready to Invest in Self-Improvement as 2026 Approaches
As 2026 nears, many Americans are focusing on self-improvement, indicating a readiness to invest in their personal growth. According to a recent survey by CIT Bank conducted by Harris Poll, 42% of Americans have set their sights on New Year's resolutions for 2026, with an anticipated average spending of $4,700 to actualize these goals. Financial ambitions are particularly prevalent, with 55% of those making resolutions aiming to manage their finances better by budgeting, saving, and investing. Jose Castro, head of CIT Bank, insists that the start of a new year is an excellent opportunity for individuals to assess their aspirations and devise a tailored savings plan to facilitate these ambitions.
The commitment to enhance one's life is significant, and it's reflected in the projected spending amounts. Men, on average, plan to invest around $5,360 in their resolutions, while women anticipate a budget of approximately $4,000. Interestingly, men aged 35-54 form the highest-spending demographic within the survey, with expected expenditures exceeding $6,000 on resolutions. Those targeting health improvements also demonstrate divergent spending patterns; men aiming for health-related resolutions are willing to outlay over double the amount compared to women—$1,500 versus $738 respectively.
The most substantial financial commitment falls within personal-life resolutions, which encompass experiences such as traveling, engaging in hobbies, and spending quality moments with family and friends. For those focused on these resolutions, the average budgeting sum peaks at $3,047. Notably, within this segment, $1,251 is earmarked specifically for travel, followed by $768 dedicated to meals and entertainment, and $400 for hobby-related expenses. When analyzing hobby supplies costs, men reveal a propensity to spend nearly double compared to their female counterparts—$560 compared to $238.
As we highlight the aspirations of those planning for the new year, it becomes evident that both genders are inclined towards financial objectives, with 73% of those intending to make resolutions prioritizing such goals. However, their approaches diverge. For example, a higher percentage of men (55%) lean towards investment strategies compared to women (37%). Additionally, men are more proactive in enhancing their credit scores, engaging with financial advisors, and seeking high-yield savings accounts.
Conversely, women are more inclined to adopt practices aimed at cost-cutting, with 65% declaring their intent to reduce discretionary spending. Furthermore, nearly half (46%) of women seek additional employment opportunities to enhance their earnings, and they’re slightly more likely than men to establish goal-oriented savings accounts.
Most individuals, regardless of whether they label their plans as New Year's resolutions, are approaching 2026 with defined savings objectives in mind—81% of respondents reported they save towards specific goals. Among the list, travel emerges as the leading aspiration, with 40% saving towards it, followed by purchasing a vehicle (25%), investing in education (11%), starting a family (10%), and organizing significant life events such as weddings (7%).
Experts assert that having a tangible financial target aids in visualizing and emotionally connecting with the saving process. CIT Bank customers benefit from innovative features, such as the ability to create customized savings buckets within their accounts, easing their journey toward achieving these goals like vacations or emergency funds.
CIT Bank, an FDIC-insured institution and part of the First Citizens Bank family, emphasizes its commitment to preserving and augmenting capital for its members. With a legacy of financial strength and security, CIT Bank provides the necessary tools for individuals to realize their savings ambitions, irrespective of whether they aim to buy a home in the upcoming year or take a dream vacation.
For individuals seeking sound advice on achieving financial literacy and effective saving while taking on new year’s resolutions, CIT Bank offers valuable insights through their informative blog posts, outlining strategies like how to save more efficiently and key tips to attain new year goals.
First Citizens Bank has dedicated itself to assisting personal and business clients in enhancing their financial well-being. Headquartered in Raleigh, North Carolina, the institution has developed a rich legacy characterized by stability and forward-thinking financial solutions for generations. With extensive banking services and over 500 branches across the U.S., First Citizens ranks as one of the nation’s top-20 financial institutions, boasting over $200 billion in assets. Discover more about their services at their official website.
Insights from the Survey
The commitment to enhance one's life is significant, and it's reflected in the projected spending amounts. Men, on average, plan to invest around $5,360 in their resolutions, while women anticipate a budget of approximately $4,000. Interestingly, men aged 35-54 form the highest-spending demographic within the survey, with expected expenditures exceeding $6,000 on resolutions. Those targeting health improvements also demonstrate divergent spending patterns; men aiming for health-related resolutions are willing to outlay over double the amount compared to women—$1,500 versus $738 respectively.
Categories of Resolutions
The most substantial financial commitment falls within personal-life resolutions, which encompass experiences such as traveling, engaging in hobbies, and spending quality moments with family and friends. For those focused on these resolutions, the average budgeting sum peaks at $3,047. Notably, within this segment, $1,251 is earmarked specifically for travel, followed by $768 dedicated to meals and entertainment, and $400 for hobby-related expenses. When analyzing hobby supplies costs, men reveal a propensity to spend nearly double compared to their female counterparts—$560 compared to $238.
Gender Differences in Financial Goals
As we highlight the aspirations of those planning for the new year, it becomes evident that both genders are inclined towards financial objectives, with 73% of those intending to make resolutions prioritizing such goals. However, their approaches diverge. For example, a higher percentage of men (55%) lean towards investment strategies compared to women (37%). Additionally, men are more proactive in enhancing their credit scores, engaging with financial advisors, and seeking high-yield savings accounts.
Conversely, women are more inclined to adopt practices aimed at cost-cutting, with 65% declaring their intent to reduce discretionary spending. Furthermore, nearly half (46%) of women seek additional employment opportunities to enhance their earnings, and they’re slightly more likely than men to establish goal-oriented savings accounts.
The Importance of Setting Goals
Most individuals, regardless of whether they label their plans as New Year's resolutions, are approaching 2026 with defined savings objectives in mind—81% of respondents reported they save towards specific goals. Among the list, travel emerges as the leading aspiration, with 40% saving towards it, followed by purchasing a vehicle (25%), investing in education (11%), starting a family (10%), and organizing significant life events such as weddings (7%).
Experts assert that having a tangible financial target aids in visualizing and emotionally connecting with the saving process. CIT Bank customers benefit from innovative features, such as the ability to create customized savings buckets within their accounts, easing their journey toward achieving these goals like vacations or emergency funds.
Support from First Citizens Bank
CIT Bank, an FDIC-insured institution and part of the First Citizens Bank family, emphasizes its commitment to preserving and augmenting capital for its members. With a legacy of financial strength and security, CIT Bank provides the necessary tools for individuals to realize their savings ambitions, irrespective of whether they aim to buy a home in the upcoming year or take a dream vacation.
For individuals seeking sound advice on achieving financial literacy and effective saving while taking on new year’s resolutions, CIT Bank offers valuable insights through their informative blog posts, outlining strategies like how to save more efficiently and key tips to attain new year goals.
About First Citizens Bank
First Citizens Bank has dedicated itself to assisting personal and business clients in enhancing their financial well-being. Headquartered in Raleigh, North Carolina, the institution has developed a rich legacy characterized by stability and forward-thinking financial solutions for generations. With extensive banking services and over 500 branches across the U.S., First Citizens ranks as one of the nation’s top-20 financial institutions, boasting over $200 billion in assets. Discover more about their services at their official website.
Topics Financial Services & Investing）
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