Poles approach New Year’s resolutions with skepticism. According to the Provident Barometer, less than 30 percent intend to keep them. What’s significantly more important to us are realistic financial goals. Only 17.8 percent of respondents admit that they do not have any plans for their personal finances in 2024.
Among Poles, there are almost as many financial optimists as pessimists. The survey shows that 42 percent of respondents expect an improvement in their material situation in the coming year. Slightly more, 44.2 percent, predict that 2024 will be worse for them financially. Therefore, it is not surprising that Poles take the topic of planning their expenses for the new year very seriously.
To Budget
Just over half of Poles are already planning what their biggest expenditures will be in 2024.
“Thinking earlier about expenditures is the domain of the group aged 25-54 years. Among them, about 55 percent of respondents already have plans for the most important items of next year’s budget. If we look at the youngest and those aged 55+, this percentage does not exceed half” comments Karolina Łuczak, a spokesperson for Provident Polska.
The most popular expenditure included in the budgets for the next year is holiday trips. Almost 39 percent of the respondents chose it. In second place was apartment or house renovation, which was planned by 35.1 percent of respondents. The podium is closed by daily expenses, such as bills or the cost of shopping – every third Pole who makes assumptions about living costs – already takes them into account in their budget.
“In the survey, we also asked Poles how they plan to finance the most burdensome expenditure planned for 2024” says Karolina Łuczak. “Almost half, 45.5 percent of respondents declare that they will dip into savings, and 30.1 percent will finance it from current income. Some respondents plan to ask a financial institution for help – 8.7 percent intend to make a purchase in installments, and 6.3 percent will take a loan or borrow from a bank”.
Finances Scheduled For 2024
Among the financial plans that Poles intend to implement in 2024, the most popular is to reduce unnecessary expenses, as declared by 45.3 percent of respondents. As many as 27.3 percent of respondents aim to maintain their current financial situation, and 21.4 percent want to repay debt. Every fifth respondent plans to precisely plan their budget. A slightly smaller percentage opts for an additional source of income and purchases on sale.
Resolutions? No, thank you
Poles like to plan, but they are not fans of New Year’s resolutions. As many as 70.8 percent of respondents did not make any resolutions for 2024. The others most often focused on health issues (57.3 percent), physical fitness (48 percent), finances (31.1 percent), personal development (31 percent) and changes in diet (30.5 percent).
About the study:
The Provident Barometer is a cyclical survey of Poles, which allows for a better understanding of consumer’s behaviors and financial decisions. The survey was conducted by Danae Sp. z o. o. using the CAWI method on a sample of N = 1000 adult Poles, in December 2023.
