Brits give up on financial goals set at the start of the year as they lose motivation, survey reveals

BRITS throw in the towel when it comes to financial goals they set out at the start of the year, a survey reveals.

After just four months more than half of those who set any kind of money-related target have given up.

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The study looked at a group of 2,000 adults and discovered that out of the 56 per cent who had set annual financial targets 67 per cent stop trying before half the year has past.

But 21 per cent were determined to get their money in a better shape at the start of the year – alongside becoming fitter, spending more time with family and friends, and travelling more.

However, 43 per cent expect their resolutions not to go to plan this year – with 16 per cent putting it down to setting unrealistic goals and 10 per cent blaming laziness.

Lack of motivation and too many distractions are other reasons for the failure of meeting self-imposed targets.

The research was commissioned by NatWest, which has teamed up with athletes including Sir Chris Hoy, Max Whitlock and Beth Shriever to record a motivational “team talk for the nation”.

Sir Chris Hoy said: “As a professional athlete, I know first-hand the significant role motivation plays in achieving your goals.

“During training for each of my Olympic Games, my coach’s words of encouragement and the unwavering support of the entire nation were a huge part of my motivation.

“Whatever your goals are, we wanted to be part of the Team Talk to inspire you to get there – just like the way our coaches inspired us.

“That’s why I’ve teamed up with Team GB partner NatWest and a whole load of other incredible athletes – so whatever your goals are, you have the motivation to strive for the finish line.”

The research also found 56 per cent of those polled said improving their financial situation is what motivates them most in life.

A spokesperson from NatWest, Team GB’s banking partner, added: “We’re hoping to inspire people across the nation to both come together to support the team as well as get going to reach their own goals.

“Our Team GB athletes are hugely inspiring, so we hope their words and experiences can help motivate the nation. Whatever your goals – let’s get going.”