The start of the New Year for most people means setting goals that they hope to accomplish by the time New Year’s Eve rolls around 365 days later. If you’re like the large majority of Canadians who set resolutions for the upcoming year, they’re probably related to health and fitness or financial planning.

According to a study conducted by the Wealth Institute, 51% of Canadians set resolutions relating to health and fitness, while 36%made resolutions relating to their personal finances. Some of the other popular resolutions cited by the study included success in love and workplace goals.

Not only did this study discover that financial planning is a priority for many Canadians, but it also found that approximately 59% of Canadians already have a financial plan in place. However, the number of Canadians with a financial plan is lower than it was just a few years ago. In 2012, 64% claimed that they had set up a plan for their finances.

Of those who reported that they have a plan for their finances, 82% said that this plan helped them reach their financial goals, 93% go over their plan at least once a year, and 69% said that they wished they had taken the time to create one of these plans earlier.

What are some of your resolutions for 2015? Did improved financial planning make the list? If you need help making your financial goals for this year happen, contact us at BlueRock Wealth Management Inc. for assistance.

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