Lynch Law Offices, P.C.
Call Us Now for a FREE Consultation:
800-491-7493
Offices in Four Convenient Locations

What's your resolution about financial stability in 2016?

There's really never a bad time for someone in the Chicago area to think about getting squared away on the financial front, but it is perhaps more common to think about it at this time of the year because of the approaching end of one year and the start of another. This is the time for making resolutions.

Every year at this time, Allianz Life Insurance Company of North America conducts a survey to see what consumers expect to prioritize in the coming year. This year, the results show that health and wellness is what's uppermost in the minds of Americans. Focusing on improving financial stability comes in a distant second.

Things broke down this way:

  • Health and Wellness - 44 percent
  • Financial stability - 29 percent
  • Career and/or employment - 13 percent
  • Education - 9 percent
  • Leisure and entertainment - 5 percent

Despite how that list displays there are some interesting twists in the results of the survey. For example, even though a large number of respondents put getting physically healthy at the top of their lists, if presented with the possibility of getting free professional guidance in any of the focus areas, respondents said they'd more likely seek help from a financial professional than a dietician or personal trainer.

Another intriguing insight is the fact that about one third of respondents didn't even list financial planning on their resolutions lists. The most common reason being they don't feel they make enough money to make it worth worrying about. At the same time, 29 percent of respondents acknowledged that they spend too much on unneeded things; 28 percent said they don't save as much as they could; and 19 percent said they spend more than they earn.

What all of these folks likely would agree upon is that it can be easy to slip into a state of debt difficulty. Having a financial plan in place can stave off some trouble. But if problems do develop, the protection of filing for bankruptcy may be the shortest route to financial recovery. If you have such concerns you should be speaking with an experienced attorney.

Source: LifeHealthPro.com, "These are the top New Year’s resolutions for 2016," Dec. 16, 2015

No Comments

Leave a comment
Comment Information

How Can we Help You? Contact An Attorney

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

Four Convenient Office Locations To Serve You

Toll Free: 800-491-7493 Fax: 888-691-8337

Five Convenient Office Locations To Serve You

Lisle Office - DuPage County
1011 Warrenville Road
Suite 150
Lisle, IL 60532

Map & Directions

Lockport Office - Will County
900 South State Street
Second Floor, Suite A
Lockport, IL 60441

Map & Directions

Aurora Office - Kane County
1444 North Farnsworth
Suite 100
Aurora, IL 60505

Map & Directions

Palatine Office - Cook County
800 East Northwest Highway
Suite 700
Palatine, IL 60074

Map & Directions

Chicago Office - Cook County
1 S Dearborn
Suite 2100
Chicago, IL 60603

Map & Directions

Toll Free: 800-491-7493 Fax: 630-960-4755