Spending and Saving Better in the New Year: Americans will spend an average of $4,700 to achieve their New Year's Resolutions

Rhea-AI Summary

CIT Bank (FCNCA) released survey results showing 42% of Americans plan New Year's resolutions for 2026 and expect to spend an average of $4,700 to achieve them.

Financial goals are prominent: 55% of resolvers intend budgeting, saving, investing, paying debt, or building credit. Men plan to spend more than women ($5,360 vs. $4,000), with men 35–54 projecting >$6,000. Personal-life resolutions are costliest ($3,047 average), including travel $1,251, meals/entertainment $768, and hobby supplies $400.

The survey reports behavioral differences: men favor investing, credit-building, advisors, and high-yield accounts; women favor spending cuts, extra work, and goal-based savings accounts. 81% of savers have specific goals, led by travel (40%), car purchase (25%), and home purchase (21%).

AI-generated analysis. Not financial advice.

News Market Reaction – FCNCA

+1.18%

1 alert

+1.18% News Effect

On the day this news was published, FCNCA gained 1.18%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Resolution planners: 42% Average spend: $4,700 Men’s spend: $5,360 +5 more

8 metrics

Resolution planners 42% Americans planning 2026 New Year’s resolutions

Average spend $4,700 Expected 2026 spend to achieve resolutions

Men’s spend $5,360 Average 2026 resolution spend for men

Women’s spend $4,000 Average 2026 resolution spend for women

Personal-life budget $3,047 Average budget for personal-life resolutions

Travel budget $1,251 Average travel spend within personal-life resolutions

Savers with goals 81% Americans saving with specific goals for 2026

Travel goal share 40% Savers citing travel or vacation as top goal

Market Reality Check

Price: $1955.08 Vol: Volume 77,864 is at 0.82x...

normal vol

$1955.08 Last Close

Volume Volume 77,864 is at 0.82x the 20-day average of 95,051, indicating subdued trading activity before this release. normal

Technical Shares traded above the 200-day moving average of 1,871.51, reflecting a longer-term uptrend ahead of this survey news.

Peers on Argus

Before this news, FCNCA was up 4.33%, while key regional bank peers like HBAN, R...

Before this news, FCNCA was up 4.33%, while key regional bank peers like HBAN, RF, CFG, MTB, and SHG also showed gains between 0.21% and 2.34%. Peer strength suggests a constructive backdrop for regional banks, but the momentum scanner did not flag a coordinated sector move tied to this headline.

Historical Context

5 past events · Latest: Dec 04 (Neutral)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Dec 04	Consumer survey release	Neutral	+1.1%	CIT Bank survey on 2026 resolutions and spending/saving intentions.
Nov 20	Leadership appointment	Neutral	-0.4%	New middle market banking leader for Northeastern U.S. expansion.
Nov 20	Client financing facility	Neutral	-0.4%	$50 million growth capital facility from SVB for Lumafield expansion.
Nov 19	Real estate expansion	Neutral	+1.8%	Purchase of 667 Mission Street office building to support Bay Area growth.
Nov 18	Leadership appointment	Neutral	+0.5%	New leadership for SVB life science and healthcare banking practice.

Pattern Detected

Recent headlines have been operational and strategic updates, with modest, generally positive price moves that align with neutral-to-constructive news flow.

Recent Company History

Over the last few months, FCNCA has reported a mix of strategic, operational, and client-focused developments. These include survey-driven consumer insights on New Year’s financial behavior on Dec 4, 2025, leadership appointments at First Citizens and Silicon Valley Bank, regional expansion via a San Francisco office purchase, and a $50 million growth capital facility for Lumafield. Price reactions around these events have been modest, suggesting investors have treated such updates as incremental rather than transformational.

Market Pulse Summary

This announcement highlights survey data showing Americans plan to spend an average of $4,700 on 202...

Analysis

This announcement highlights survey data showing Americans plan to spend an average of $4,700 on 2026 resolutions, with 55% of resolvers focused on financial goals and 81% of savers targeting specific objectives like travel and home purchases. For FCNCA, it underscores CIT Bank’s positioning in high-yield savings and automated tools rather than signaling immediate balance sheet changes. Investors may watch how such consumer saving and spending trends intersect with future earnings reports, deposit growth metrics, and product adoption data.

Key Terms

high-yield savings account, 401(k), ira, hsas, +3 more

7 terms

high-yield savings account financial

"Maximizing your savings with a high-yield savings account such as Platinum Savings..."

A high-yield savings account is a type of bank account that offers a higher interest rate than traditional savings accounts, helping your money grow faster over time. It functions like a regular savings account but rewards you with more interest, making it a smart option for saving and earning more on your savings without risking your principal.

401(k) financial

"contributing to plans such as 401(k), IRA, and HSAs..."

A 401(k) is a type of retirement savings plan offered by employers that allows workers to set aside a portion of their paycheck before taxes are taken out. The money saved in a 401(k) can grow over time through investments, helping individuals build funds for their future retirement. It matters to investors because it provides a tax-advantaged way to save and invest for long-term financial security.

ira financial

"contributing to plans such as 401(k), IRA, and HSAs..."

An individual retirement account (IRA) is a savings account designed to help people put aside money for their retirement, often with tax advantages that encourage long-term savings. It matters to investors because it can grow over time, providing financial security later in life, and offers benefits that can reduce current taxes or allow investments to compound more effectively.

hsas financial

"contributing to plans such as 401(k), IRA, and HSAs..."

HSAs, or Health Savings Accounts, are special savings plans designed to help individuals set aside money for healthcare expenses. They function like a personal health fund that can grow over time and be used to pay for medical costs with tax advantages. For investors, HSAs can be valuable because they offer a way to save on healthcare costs while potentially building wealth for future needs.

direct deposits financial

"SmartSaver suite of tools, which offers customers three ways to automate... direct deposits..."

Direct deposits are electronic transfers that send money straight into a bank or brokerage account without paper checks or manual handling. For investors, they matter because predictable direct deposits—such as payroll, dividends, or interest payments—create steady cash flow, reduce the risk of missed or delayed receipts, and cut processing costs; think of them as an automatic, scheduled delivery that keeps a household or investment plan running smoothly and securely.

algorithm technical

"a feature called Savings Boost that uses a personalized algorithm to sweep small amounts..."

An algorithm is a step-by-step set of instructions a computer follows to solve a problem or make a decision, like a recipe that turns inputs into a specific output. Investors care because algorithms power automated trading, risk models, and data analysis that can speed decisions, amplify gains or losses, and affect market prices—so understanding their role helps assess how technology may influence a company's performance or market behavior.

fdic-insured regulatory

"CIT Bank is an FDIC-insured, top-10 online bank backed by the strength..."

"FDIC-insured" means that a bank or savings institution is protected by the Federal Deposit Insurance Corporation, which guarantees that depositors will get back their money up to a certain limit if the bank fails. This insurance provides peace of mind, similar to a safety net, ensuring that your savings are protected even if the bank encounters financial trouble. It helps build trust and confidence for people saving or investing their money in banks.

AI-generated analysis. Not financial advice.

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RALEIGH, N.C., Dec. 4, 2025 /PRNewswire/ -- Self-improvement is a priority for many Americans as 2026 approaches — and they're willing to invest in it. 42% of Americans plan to set New Year's resolutions in 2026, and they expect to spend an average of $4,700 to achieve their goals, according to data from CIT Bank's 2026 New Year's Resolution Saving and Spending Survey conducted by Harris Poll¹. Money is top of mind for many Americans. Of those who plan to make resolutions, 55% are committed to financial resolutions such as budgeting, saving, investing, paying off debt, or building credit.

"A new year can bring a burst of energy and a fresh perspective. It's a great time to look at your goals and create a savings plan that aligns with what you hope to achieve," said Jose Castro, head of CIT Bank, a division of First Citizens Bank. "Maximizing your savings with a high-yield savings account such as Platinum Savings, with rates more competitive than your everyday bank, can help you reach your savings goals faster. CIT Bank customers can also create savings buckets within their account, dividing their balance between goals like vacation, emergency fund, education and more."

Americans are spending on the life they want
Americans who are making New Year's resolutions in 2026 are showing real commitment to the life they want, expecting to spend an average of $4,700 on achieving their goals in 2026. Spending on these goals varies by gender, as men plan to spend a bit more than women ($5,360 compared to $4,000). Also, the highest-spending group surveyed was men ages 35-54, who expect to invest more than $6,000 in their resolutions over the year. Men with health-related resolutions plan to spend more than twice as much as women with the same resolution ($1,500 for men and $738 for women).

The costliest category of New Year's resolutions is personal-life resolutions. These include meaningful life experiences such as travel, hobbies, and spending more time with family and friends. Americans whose New Year's resolutions fall into this category are budgeting an average of $3,047 for their goals, including an average of $1,251 for travel, $768 for meals and entertainment, and $400 for hobby supplies and materials. Men are willing to spend almost twice as much on hobby supplies as women ($560 vs. $238).

Saving styles differ by gender
Most men and women (73% of those making resolutions) are prioritizing a financial goal in 2026. However, each gender is going about it a little differently. Men are more likely than women to lean into investing (55% of men vs. 37% of women), building or improving their credit score (49% of men vs. 35% of women), or contributing to plans such as 401(k), IRA, and HSAs (39% of men vs. 26% of women).

Men are also more likely to tap into other resources, like hiring a financial advisor (42% of men vs. 18% of women) or moving their savings to higher-yield accounts (43% of men vs. 19% of women). They are also more open to using technology, such as budgeting software (36% of men vs. 23% of women) and scheduling automatic deposits to savings or investments (39% of men vs. 27% of women).

"Automating your savings is one of the most effective, evidence-based methods to save money over time," Castro said. "We recently introduced the SmartSaver suite of tools, which offers customers three ways to automate their savings: recurring transfers, direct deposits, and a feature called Savings Boost that uses a personalized algorithm to sweep small amounts of money from your everyday checking account into your CIT Bank high-yield savings."

To help reach their financial goals, women are ready to reduce spending (65% of women vs. 55% of men), take on additional work to earn more money (46% of women vs. 42% of men) or create a goal-based savings account (50% of women vs. 44% of men).

Saving with a goal in mind
Whether or not they call it a New Year's resolution, most Americans (81%) are saving with one or more specific goals in mind for 2026. Travel or vacation is the most popular goal, with 40% of savers. Other top savings goals include purchasing a car (25%), buying a house (21%), investing in education (11%), starting or growing a family (10%), and planning a wedding or other big event (7%).

"Having a goal in mind makes it easier to visualize and emotionally connect with the act of saving money," Castro said. "CIT Bank customers can create savings buckets within their account, dividing their balance between goals like vacation, emergency fund, education, and more."

CIT Bank is an FDIC-insured, top-10 online bank backed by the strength and stability of First Citizens Bank. It's committed to growing and preserving members' savings safely and securely, whether that savings plan is for a new house in the New Year or a trip to Cabo.

For tips on how to achieve your financial goals and how to save money while achieving your resolutions in 2026, check out the latest CIT Bank blogs, How to save more money in 2026 and Top tips to achieve your New Year's resolutions.

About First Citizens Bank
First Citizens Bank helps personal, business, commercial and wealth clients build financial strength that lasts. Headquartered in Raleigh, N.C., First Citizens has built a unique legacy of strength, stability and long-term thinking that has spanned generations. First Citizens offers an array of general banking services including a network of more than 500 branches nationwide and offices in 23 states; commercial banking expertise delivering best-in-class lending, leasing and other financial services coast to coast; innovation banking serving businesses at every stage; and a nationwide direct bank. Parent company First Citizens BancShares, Inc. (NASDAQ: FCNCA) is a top 20 U.S. financial institution with more than $200 billion in assets and a member of the Fortune 500™. Discover more at firstcitizens.com.

1 This survey was conducted online within the United States by The Harris Poll on behalf of CIT Bank from November 4-6, 2025 among 2,088 adults ages 18 and older. The sampling precision of Harris online polls is measured using a Bayesian credible interval. For this study, the sample data is accurate to within +/- 2.5 percentage points using a 95% confidence level.

Contact:
Angela English
803-931-1854
angela.english@firstcitizens.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/spending-and-saving-better-in-the-new-year-americans-will-spend-an-average-of-4-700-to-achieve-their-new-years-resolutions-302632549.html

SOURCE First Citizens Bank

FAQ

How much will Americans spend on New Year's resolutions in 2026 according to CIT Bank (FCNCA)?

Survey respondents expect to spend an average of $4,700 in 2026 to achieve their New Year's resolutions.

What share of Americans plan New Year's resolutions for 2026 per the CIT Bank (FCNCA) survey?

42% of Americans said they plan to set New Year's resolutions for 2026.

Which types of resolutions are most common and how many Americans plan them, per CIT Bank (FCNCA)?

Financial resolutions are most common: 55% of those making resolutions plan to budget, save, invest, pay debt, or build credit.

How do planned resolution expenditures differ by gender in the CIT Bank (FCNCA) survey?

Men expect to spend more than women ($5,360 vs. $4,000); men aged 35–54 expect to spend over $6,000.

What are the top savings goals for 2026 reported by CIT Bank (FCNCA)?

Top savings goals are travel/vacation (40%), purchasing a car (25%), and buying a house (21%).

What saving behaviors does the CIT Bank (FCNCA) survey highlight for 2026?

The survey shows men more likely to invest, use advisors, and move funds to high-yield accounts, while women more often cut spending, take extra work, or open goal-based savings accounts.