NEW YORK -

MagnifyMoney’s most recent survey found nearly 70% of Americans celebrated financial accomplishments in 2021, with one of the top achievements being vehicle acquisition.

Although many Americans accomplished their goals of paying off debt in 2021, the survey from the LendingTree subsidiary showed many consumers still have financial regrets from the year.

Five key findings from the survey included:

— Nearly 70% of Americans celebrated a financial achievement in 2021. Paying off credit card debt and growing savings topped the list, followed by buying a vehicle.

— Despite these celebrations, 78% still had financial regrets. This metric was led by not saving enough money, spending above means and racking up credit card debt.

— Fewer Americans are making 2022 financial resolutions. Just over a third of consumers (36%) are setting a money resolution for the new year, compared with 51% last year and 47% in 2019.

— As in previous years, getting out of debt is consumers' top financial resolution for the new year. That's followed by increasing their credit score and saving more money.

— More consumers say they're worse off financially than this time last year. Of the respondents, 35% say they were better off last year, while 24% say they're better off now. However, two exceptions are Gen Zers and those earning $75,000 or more, who say their finances are better now than they were this time last year.

MagnifyMoney commissioned Qualtrics to conduct an online survey of 2,050 U.S. consumers from Nov. 9-15. The survey was administered using a nonprobability-based sample, and quotas were used to ensure the sample base represented the overall population.

The firm said all responses were reviewed by researchers for quality control.

MagnifyMoney defined generations as the following ages in 2021:

  • Generation Z: 18 to 24
  • Millennial: 25 to 40
  • Generation X: 41 to 55
  • Baby Boomer: 56 to 75

MagnifyMoney added that while the survey also included consumers from the silent generation (those 76 and older), the sample size was too small to include findings related to that group in the generational breakdowns.

The entire report is available via this website.