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Are you

making New Year’s resolutions surrounding money

in the week ahead?gwen frostic to those who see If you are, you’re not alone. The annual New Year’s Financial Resolutions Study from Fidelity Investments found that 68% of Americans are making

financial resolutions

for 2022, which is an increase from 2020, said Stacey Watson, Fidelity Investments’ head of Life Event Planning.

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The top resolutions, according to Watson, are as follows:

Save more money (43%)

Pay down debt (41%)

Spend less money (31%)

“This has

held true

for the last 13 years we’ve conducted this study,” Watson told GOBankingRates. “There have been fluctuations, but the top three have remained relatively consistent over time.”

Watson noted that 71% of poll respondents were able to stick to their 2021 financial resolutions, a significant increase from 2020 when only 58% were able to keep to their goals amid a global pandemic.

But even if your attempts to keep resolutions in 2021 fell short, don’t despair: the survey asserted that just making a resolution may help put you on the right path. The survey found that of those who made financial resolutions in 2021, 41% said they’re in a better financial situation now than last year (compared to 22% who didn’t make any resolutions in 2021).

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The global pandemic has also helped people shift their mindset about their financial outlook. In spite of

fears surrounding inflation

, unexpected expenses and the continuing impact of the pandemic on the economy, Watson said people are “

letting go of things they can’t control.” This allows them to focus on practical objectives, like spending less and saving more, she added. “People have been experiencing success in these areas and are feeling good about it.”

She noted that respondents identified their ability to become more thoughtful about saving and spending as a lesson learned during the pandemic and a rare silver lining of the past two years. Success with saving more and spending less, in turn, has encouraged people to

remain steadfast with their goals and resolutions

for 2022.

“Financial actions taken at the start of the pandemic out of necessity — such as budgeting better and building up an

emergency savings fund

— have become permanent habits for many and, as a result, many people are seeing the value of continuing to make a resolution and have a plan in place to deal with the unexpected,” Watson said. “As the Resolutions survey demonstrates each year, the simple act of setting a goal and sticking with it can help you feel better about the direction you are headed.”

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Those who stuck to their resolutions in 2021 identified five factors that helped, advising others to:

Enjoy the feeling of making progress

Be motivated by your passion to reach your goal

Set realistic goals

Set clear and specific goals

Set smaller milestones to stay motivated.

For those making a financial resolution for this first time this year, Watson offered this advice: “It all starts with

setting a goal

, which is what making a resolution is really all about. But once you’ve set that goal, take the time to develop a plan for how to achieve it. That will truly get you where you need to be.”

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This article originally appeared on

GOBankingRates.com

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