A new survey from NerdWallet highlights that a significant portion of Americans are reflecting on their financial missteps from 2024. According to the report, 69% of respondents expressed having a financial regret this year, with many citing insufficient savings and overspending as key areas of concern.
Kim Palmer, a personal finance expert at NerdWallet, explained that the most common regrets centered around not building emergency savings, failing to save adequately for long-term goals, and excessive spending on entertainment.
As 2025 approaches, Palmer encourages individuals to see these regrets as opportunities for improvement. “Sometimes, starting small is the best approach. You can commit to saving a fixed amount each week and gradually increase it as the year progresses,” she said. “Setting up automatic transfers between your checking and savings accounts can also help, particularly if the funds are directed into a high-yield savings account. The money will grow automatically, which can provide additional motivation.”
For those who overspent on entertainment in 2024, Palmer advises taking a closer look at where the money went and making a plan for the future. “The first step is to review your spending and understand where the money went. From there, create a budget that allows for some flexibility—maybe limiting dining out to a certain number of times per week or month. Setting clear spending limits can help reduce overall expenses.”
Palmer stressed that while financial regrets can be disheartening, they offer a valuable opportunity to reassess and make positive changes. “It’s important to remember that there’s no shame in having regrets. The key is to reflect, learn from them, and use that motivation to set yourself up for a stronger financial year ahead.”
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