No Financial Planning Resolutions for 2012

It's disheartening to see people putting off planning for their financial future, especially when so many are struggling to find some security. Regardless of how much money they are making, everyone can benefit from having some kind of financial plan in place. Whether they do it themselves or seek the advice of a financial professional, ensuring a stable financial future should be of the utmost priority.

A recent survey* by Allianz Life Insurance Company of North America (Allianz Life) found that an astounding 80 percent of Americans have no intention of refocusing their New Year's resolutions on financial planning, despite high unemployment rates, slumping house prices and a shaky market environment in 2011. This comes at an all-time high for the third annual survey, surpassing the previous two years' 67 percent of Americans that overlooked financial planning in their New Year's resolutions.

While nearly a quarter (23 percent) of participants said that they already "have a solid financial plan," most feel that they "don't make enough to worry about it" (35 percent).

Instead, Americans are paying more attention to their health. Forty-nine percent said they plan to stick to their exercise and/or dieting resolutions instead of concerning themselves with better money management (43 percent).

When asked to rank five focus areas -- "health/wellness," "financial stability," "employment," "education" and "leisure" -- 45 percent placed"health/wellness" at the top of the list for the upcoming year. "Financial stability" followed at 30 percent.

When participants were asked to rank five economic events -- "unemployment," the "U.S. budget fiasco," "home prices/sales," "volatile stock market" and the "European debt crisis" -- 48 percent listed "unemployment" as the most troubling of 2011. Respondents ranked the "volatile stock market" fourth with 10 percent.

Lastly, when respondents were asked, "Given 2011's economic conditions and your current financial situation, are you more or less likely to seek the advice of a financial advisor/professional," about a third (31 percent) said that they are "less likely" to look for help with financial planning, while 20 percent indicated that they are "more likely." However, the majority of participants (49 percent) responded by saying that they are "unsure" of whether or not they will focus on their finances.

*Allianz Life Insurance Company of North America conducted an eNation survey (+/- 3.1% margin of error) through Synovate Research in December 2011 with 1,000 respondents.