According to a recent survey, the majority of Americans want to improve their financial habits in 2025.
The survey of 2,000 Americans also found that more than four in 10 (42%) predict they’ll have a “holiday hangover” this year.
Nearly half (49%) are planning to hibernate in January, to be less active and social, and to spend less money after the 2024 holiday season.
Commissioned by global savings platform, Raisin, the study found that along with 65% hoping to improve their money habits in 2025, more than a quarter (26%) would like to improve their financial literacy in the new year.
To illustrate this lack of financial literacy, more than one in four of those surveyed (26%) don’t know what interest rate they’re getting from their bank or financial institution.
When quizzed, most (59%) didn’t know what APR (annual percentage rate) meant, 78% were confused by the abbreviation APY (annual percentage yield) and 79% did not know …