Americans’ No. 1 financial regret—and how to avoid it

Cnbc ^ | 20th August 2025 | Mike Winters

[Cronos]

When asked their biggest financial regret in 2025, most Americans said it was not saving enough, according to a new Bankrate poll.

Altogether, 3 out of 4 respondents said they had a financial regret in the past year, with around 40% pointing to regrets tied to savings — whether for retirement, emergency expenses or children’s education — making it the most common theme in this year’s 2,078-person survey.

...1. Put out ‘financial fires’ Before focusing on long-term savings, prioritize putting out “financial fires,” Martin says. High-interest debt such as credit cards or payday loans should be paid down first. “These typically carry rates above 15%, making them a drag on your finances and your retirement goals,” he says.

...2. Build an emergency fund Once your debt is under control, work on building up emergency cash reserves worth three to six months of living expenses, so an unexpected job loss or medical bill doesn’t push you back into debt, Martin says.

...3. Save for retirement Next, focus on retirement. For late starters, that usually means saving more aggressively. “While most people shoot to save 5% to 10% of their income, someone who is trying to catch up should look for ways to boost this savings rate to 20% to 30%,” particularly if you’re starting in your 40s, says Martin.

..“Identify where discretionary dollars are leaking, whether dining out, streaming sprawl, app subscriptions you forgot about, convenience delivery, impulse buys, and lifestyle creep,”

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TOPICS: AMERICA - The Right Way!!; Business/Economy
KEYWORDS:

[ChronicMA]

the typical retirement plan is

1 spend money whenever it is in your hands, saving is dumb

2 elect Democrats who will tax the rich and spread the money as well as freebie benefits to people like you, money you can live on in retirement

[BobL]

“Because we aren’t willing to allow old people to eat dog food to survive. Until then we can’t really fix the issue.”

I’m not quite there yet, but I do think that having the government steal money from strangers at gunpoint to finance people who chose to be selfish should end, along with subsidizing wealthy families with money stolen at gunpoint.

[MosesKnows]

The mistake most make is that they save out of what is left after spending.

Do this instead: spend what is left after saving. A little adjustment and a transition period will show you how to make it work.

[subterfuge]

I have no regerts.

[webheart]

Seems like Cronos is getting old and noticing it. Be happy you are alive because every moment is a gift from God. Spending your time with vain regrets will take away from your enjoyment of life and also will cause you to forget to be grateful to God. Sure I haven’t done everything right and sure lots of things didn’t turn out how I wanted but what if I had and they did? I suspect I would feel exactly the same way as I do now. I am happy to have what I have, which I did work for. A house in a nice neighborhood, a lovely wife to spend time with, a modest income to keep things going, good health. I didn’t buy stock in Apple in the 1980’s when it was much lower than now, I got married to a couple of losers who I am glad to be away from, but I have a couple of kids and a few grandkids. All in all I am quite happy. Thank you, God!