Cost of residing disaster drives Brits to make thrifty New Year’s resolutions
New poll reveals millions of Brits plan to save over £2,000 in 2026 through money-saving resolutions
Brits hope to save big in 2026 with financial New Year’s resolutions(Image: Getty Images)
Frugal Brits reckon they’ll pocket more than £2,000 in 2026 by sticking to financial New Year’s resolutions. It comes as four in ten confessed that rising everyday costs have prompted them to reassess their spending habits.
A survey of 2,000 adults revealed that the most popular money-saving resolutions include not dining out, reducing the number of takeaways, and making homemade lunches for work. Others plan to stop buying high-end clothing brands or opt for buying second-hand. Some people are even considering more unconventional strategies to reach their savings targets, such as working out with household items to avoid gym fees or cutting their own hair.
For a third of respondents, these cutbacks are to set aside a holiday fund, while nearly half are motivated by better financial stability.
A spokesperson for iD Mobile, which commissioned the research, said: “The New Year is a natural time to make a change or reset, and money is one of the first things people want to get back under control.
“With household budgets under pressure, it’s no surprise Brits are hunting for smarter ways to make their money go further, from smarter shopping swaps to being more intentional with everyday choices.”
However, the research suggests these penny-pinching tactics often don’t stick. It’s estimated that over nine million Brits falter within six months, with nearly one in five (18%) throwing in the towel after just seven weeks.
Moreover, 37% confessed they’re likely to have ditched their financial resolutions by the end of January.
Despite this, a hopeful 65% believe January is an ideal month to kick-start new money-saving habits. Having a firm New Year’s resolution boosts motivation for 31%, while 26% said it fosters positivity. An additional 21% feel more optimistic by having a clear plan in place.
However, the OnePoll survey also revealed that 72% feel their money doesn’t stretch as far as it did this time last year. Many feeling more pressure to save compared to previous years.
A quarter have pinpointed areas where they aim to save money, for example, a quarter also believe they’re currently overpaying on their phone bill with 47% contemplating switching their mobile deal in the New Year.
The iD Mobile spokesperson added: “Setting clear financial goals at the start of the year can help turn good intentions into lasting habits.
“Taking time to review bills can feel daunting, but it’s often where some of the easiest savings can be found. And by switching to better-value mobile networks, Brits could save hundreds a year on their phone bill alone.”
