Almost everyone has a plan for their money this year, but the data suggests a huge gap between ambition and execution.
A new survey from the American Institute of CPAs (AICPA) shows that while 92% of Americans have set specific financial goals for 2026, 81% of those who set goals last year failed to stick to them.
The findings are based on an online survey conducted by The Harris Poll on behalf of the AICPA, which surveyed 2,079 U.S. adults in late December to gauge their financial prospects.
The results show that people are eager to save, but are facing strong economic headwinds.
Where does the money go?
The majority of Americans are focused on saving, with 77% of respondents citing it as their primary goal.
Retirement remains a priority for 32% of savers, while 29% put money aside specifically for a holiday.
Debt reduction and investing are also high on the list, with about a third of respondents focusing on paying off credit card bills, student loans or medical debt.
Generational differences
It’s no big surprise that savings priorities change with age. This is how every generation looks to 2026, according to the research:
- Generation Z: About 41% are focused on saving for a car.
- Millennials: Their main goal (36%) is to save for a holiday.
- Generation X: Their top priority is saving for retirement (46%).
- Baby Boomers: This group is divided between paying off debts and investing (both 33%).
Why savers fail
Of those who missed their targets last year, 36% blamed the rising cost of living.
Half of all Americans with financial goals cite rising costs for groceries, housing and utilities as the biggest threat to their success.
The second biggest hurdle is unexpected expenses like medical bills or car repairs, which 41% of people worry will derail their progress.
Other top stressors include job insecurity (26%), higher interest rates (21%) and simply feeling too overwhelmed to take action (21%).
Optimism versus reality
Economic pressures have divided sentiment. Overall, 42% of Americans believe their finances will improve by 2026. However, that optimism is largely driven by youth.
About half of Gen Z and millennials believe their financial situation will improve this year. In contrast, baby boomers feel less positive: only 29% expect an improvement.
How to beat the odds
Some Americans admit they don’t even know how to start, so the key is to take simple steps forward.
In one summary Of the findings, Pamela Ladd – CPA/PFS and AICPA’s senior manager of personal financial planning – explains:
“Americans are determined to take control of their finances by 2026, but the reality of rising costs means planning and flexibility are more important than ever. Defining your goals, choosing sustainable steps and getting help from online resources or a CPA professional can help consumers stick to their goals.”
If your main fears are the rising cost of living and inflation, set a basic savings goal that you can achieve even in the toughest months.
And since 41% of people fear unexpected bills, it’s wise to build an emergency fund before saving for a vacation. Automating even a small transfer to a separate account can protect your other goals from sudden financial shocks.
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