Top financial New Year's resolutions, market predictions for 2023: Poll

Yahoo Finance Live anchors Seana Smith and Jared Blikre look at consumers' biggest New Year's resolution commitments and what Yahoo Finance readers are predicting for the market and stocks in 2023.

Video Transcript

- We are one day away from New Year's Eve. And people are starting to share their New Year's resolutions. 50% of consumers-- that's half of you-- plan to make resolutions this year. And that's according to a new survey out from data analytics company Numerator. 53% of those making resolutions plan to focus on finances.

- All right. Well, here are some of the areas that they are focusing on. 57% want to save more money in general. 48% want to track spending more carefully. 43% want to reduce their spending. Paying off loans also makes the list here. And soaring prices have clearly impacted these consumers. 57% of them are making financial goals because of inflation. 48% are being cautious of a possible recession.

And Jared, when you dig down into what we're doing by generation, more than 60% of millennials-- my generation-- making a resolution that they are choosing to focus on their finances because it has been such a tough year. We know many millennials have been saving up or have bought a house over the last couple of years. They certainly have been driving the housing boom that we have seen since the start of the pandemic. So the fact that we could be headed in for a larger economic slowdown, many of them making the smart choice, I might add, by prioritizing their spending.

- Yes. Personally, I make resolutions at any time of the year, not necessarily New Year's. But I'm a big believer in resolutions. And finances are top of my book for the new year, just getting a handle on things. I'm going through my credit cards. It's amazing some of the services that I can cancel. And I'm looking forward to doing that.

- I need to do that, actually. I haven't made any New Year's resolutions. So I'm going to take that tip from you because that is something I can certainly do in the new year. All right. Well, we asked you guys, Yahoo Finance, looking for the big market predictions of the new year. We wanted to hear from you. So we asked what stocks you were most optimistic for in 2023. We're looking for some good news after what has been such an awful year for the market. We've got a resounding consensus. You can see it on your screen. Tesla. Jared, people are ready for Tesla to turn things around. Ending the day you can see up just about 1%. But for the year, that stock looks ugly.