American Express Discovers Consumers Trading Manicures for Money Market Accounts

2010 could be the year that many Americans actually stick to their financial resolutions, according to a recent survey commissioned by American Express. The January 2010 edition of the American Express Spending & Saving Tracker asked 2,088 consumers to share their opinions about personal spending and saving, along with the overall state of the economy.

Nearly nine out of ten respondents expressed optimism about achieving their personal savings goal in 2010. Four out of five Americans responding to the survey shared their personal plans to save more than $14,000 during the year. Only about one in five Americans admitted to rely on potential lottery winnings to bolster their savings plan.

"Morning lattes and manicures" face some of the sharpest spending cutbacks among respondents this year, with about one in three Americans telling researchers that they have put the brakes on personal luxuries for now. Roughly half of respondents expected to spend about fifty percent more than usual on one-time purchases over the next few months, especially tax bills and auto repairs.