New Year’s Resolutions: 23 million resolve to make 2021 healthier and happier

23 million Brits are relying on New Year’s resolutions in 2021 to improve their physical and mental health, help save the environment and sort out their finances.¹   

According to a survey² of over 2,000 UK adults, commissioned by GoCompare, 44% of people plan to make resolutions for 2021.  Perhaps influenced by living through public health restrictions for most of 2020, the top five things people want to change are connected to their health and fitness and seeing friends and relatives. 

Other goals and lifestyle changes include getting to grips with personal finances, travelling, and being more environmentally friendly.  The survey also found that in 2021 more people plan to reduce the amount of time they spend on social media sites than cut down on drinking or smoking.  

However, despite starting the year with the best of intentions, the survey reveals that, on average, people only manage to keep to their New Year’s Resolutions for seven weeks.

Reducing outgoings (46%) heads the list for those making financial resolutions, followed by getting out of debt or reducing loan and credit card costs (26%).  Ways people plan to pare back expenditure include shopping around for insurances and, re-mortgaging (8%).  Other financial related resolutions involve putting money away for the future.  A quarter plan to save more in a deposit account, 18% will invest in the stock market, while 15% plan on increasing their pension contributions. 

One in ten will resolve to give money to charity.  Buying a house or moving home in 2021 is on the cards for 16% of Brits.  

Lee Griffin, Founder and CEO of GoCompare Money commented, “I think it’s fair to say that most of us will be glad to see the back of 2020.  The start of the new decade saw the emergence of a global pandemic which has fundamentally changed the way we live.

“After over-indulging in festive food and drink, health and fitness usually feature highly in the Nation’s New Year’s resolutions and 2021 will be no exception, but the coronavirus will undoubtedly have played a major part in people’s focus on their physical and mental wellbeing.”       

Lee continued, “Lockdown restrictions continue to have a devastating impact on the economy. And, with the end of the Brexit transition period in sight, 2021 will be a year of financial uncertainty for many.  A key theme in many people’s financial goals for 2021 is the need to cut back on expenditure.  One easy way to do this is to make sure that you are always getting a good deal on essential outgoings like utility bills and insurances.  Comparison sites like GoCompare can help you quickly and easily compare products and shop around for the right product and the right price.”       

Customers comparing products and prices on GoCompare³ could save up to £277 on their car insurance, up to £107 on their home insurance and, up to £567 on dual fuel bills.

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For further information please contact:

Gordon, Jason or Liz at MAW Communications on 01603 505 845

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Notes to editors

¹The 23 million people statistic is based on 44% of the UK adult population making New Year’s Resolutions.  The UK adult population is estimated to be 52,403,344 (ONS data June 2018).  44% of 52,403,344 is 23,057,471 rounded to 23 million.

²On 7 December 2020, an online survey of 2,057 randomly selected Great British adults was executed by Maru/Blue. For comparison purposes, a probability sample of this size has an estimated margin of error (which measures sampling variability) of +/- 2.1%. The results have been weighted by age, gender, region and social grade to match the population, according to Census data. This is to ensure the sample is representative of the entire adult population of Great Britain. Discrepancies in or between totals are due to rounding.

³Car insurance: According to independent research from Consumer Intelligence conducted between 1 August to 31 August 2020, 51% could save up to £277 with GoCompare Car Insurance.

Home insurance: Price savings are based on independent research by Consumer Intelligence during 01 August 2020 to 31 August 2020: 51% of consumers could achieve a saving of up to £107 with Gocompare Home Insurance.

Energy Bills: Between 1 January to 31 March 2020 at least 10% of customers who provided their usage and received a price for switching both gas & electricity could save £567.16.

GoCompare

GoCompare is a comparison website that enables people to compare the costs and features of a wide variety of insurance policies, financial products and energy tariffs.

GoCompare does not charge people to use its services, and it does not accept advertising or sponsored listings, so all product comparisons are unbiased. GoCompare makes its money through fees paid by the providers of products that appear on its various comparison services when a customer buys through the site.

When it launched in 2006, it was the first comparison site to focus on displaying policy details rather than just listing prices, with the aim of helping people to make better-informed decisions when buying their insurance. GoCompare has remained dedicated to helping people choose the most appropriate products rather than just the cheapest, and has teamed up with Defaqto, the independent financial researcher, to integrate additional policy information into a number of its insurance comparison services. This allows people to compare up to an extra 30 features of cover.

GoCompare is the only comparison website to be invited to join the British Insurance Brokers’ Association (BIBA) and is authorised and regulated by the Financial Conduct Authority (FCA).

For more information visit www.gocompare.com and www.gocogroup.com