Are you happy with all the money-related decisions you’ve made so far in your life? Many Americans aren’t, as 74% have a financial regret, according to a new Bankrate survey.
They asked more than 36-hundred U.S. adults about those regrets and found:
- The most common financial regret Americans have is not saving for retirement early enough (21%).
- Taking on too much credit card debt (15%) is next, followed by not saving enough for emergency expenses (14%).
- Another 39% regret not saving enough in general, whether that’s for retirement, emergencies or their kids’ education.
- Baby boomers are the generation most likely to regret not saving for retirement early enough, 34% of them do, compared to 26% of Gen X, 11% of millennials and just 5% of Gen Z who feel the same.
- These financial regrets are becoming more stressful for Americans, with 48% saying their stress level over their top financial regret has gone up since last summer. Only 12% say their stress level has decreased.
- Younger Americans are more stressed because of financial regret than older folks, as 60% of Gen Z and 57% of millennials say their stress has increased since June of 2022, compared to 45% of Gen X and 38% of boomers.
Source: Yahoo Finance