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By Dan Kadlec
Updated: December 29, 2014 10:36 AM ET | Originally published: December 28, 2014

Most New Year’s resolutions are pointless. Only one in 10 people stick with them for a year, and many folks don’t last much more than a month. But as 2015 approaches, you might consider a financial New Year’s resolution anyway. Those who resolve to improve their money behavior at the start of the year get ahead at a faster rate than those who do not, new research shows.

Among those who made a financial resolution last year, 51% report feeling better about their money now, according to a new survey from Fidelity Investments. By contrast, only 38% of those who did not make a money resolution said they felt better.

Meanwhile, New Year’s financial resolutions seem to be easier to stay with: 42% find it easier to pay down debt and save more for retirement than, say, lose weight or give up smoking. Among those who made a financial resolution last year, 29% reached their goal and 73% got at least half way there, Fidelity found. Only 12% of resolutions having to do with things like fitness and health do not end in failure, other research shows.

So it is discouraging to note that the rate of people considering a New Year’s financial resolution is on the decline: just 31% plan to make one this year, down from 43% last year. A fall financial pulse survey from Charles Schwab is slightly more encouraging: 36% say they want to get their finances in order and that working with a financial planner would most improve their life. But a bigger share say they are most concerned with losing weight (37%) and would like to work with a trainer (38%). Topping the financial resolutions list in the Fidelity survey, as is the case nearly every year, are saving more (55%), paying off debt (20%) and spending less (17%)—all of which are closely connected. The median savings goal is an additional $200 a month.

Why are financial resolutions on the decline? The stock market has been hitting record highs, unemployment has dipped below 6% and the economy is growing at its fastest pace in years. So the urgency to tighten our belts felt during the Great Recession and immediate aftermath may be lifting.

But no matter how much the economic climate has improved, Americans remain woefully under saved for retirement and paying off debt is almost always a smart strategy. In the Schwab survey, 53% said if they were given an unexpected gift this year their top choice would be cash to pay down credit cards. One key to sticking to your New Year’s pledge: track progress and check in often. Two-thirds of those who set a goal find progress to be motivating, Fidelity found. That’s true whether you are trying to lose 20 pounds or save $20 a week.

More on saving and budgeting from Money 101:

How can I make it easier to save?

How do I set a budget I can stick to?

Should I save or pay off debt?

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