PORTLAND, Ore. (KOIN) – As January marks Financial Wellness Month, a Fidelity study found that Americans are not feeling optimistic about their finances and are ready to start “living sensibly” in 2023.

The study found that inflation was one of the biggest financial setbacks for people in 2022 and remains a concern in 2023, said Stacey Watson, Vice President of Life Events Planning at Fidelity Investments. According to Watson, economic uncertainty is also top of mind as many people set financial resolutions in the new year.

Watson recommends setting specific and realistic financial goals and to look where you can cut costs — including getting rid of subscriptions you no longer use.