Majority of Americans Express Fiscal Remorse: Poll Shows 75% Admit Financial Missteps
In a recent survey, it was found that 74% of U.S. adults have a financial regret, a decrease from 77% in 2024, indicating a positive trend. Among these individuals, 43% haven't made any progress on their financial regret in the past 12 months, a figure that remains relatively unchanged from 2024.
The most common financial regret among Americans is not saving for retirement early enough, with 22% of respondents expressing this concern. Taking on too much credit card debt follows closely, with 15% of Americans citing this as their top financial regret. Interestingly, not saving enough for emergency expenses is the third-most common regret, but the percentage has fallen since 2024 - from 18% in 2024 to 13% in 2025.
The average credit card balance stands at $6,371, according to TransUnion. This figure highlights the importance of managing credit card debt and avoiding accumulating excessive balances.
The survey also revealed that 30% of Americans say cheaper essentials, such as gas and groceries, would most likely improve their personal financial situation in the near future. Regardless of income level, the plurality of Americans share this sentiment. However, those making under $40,000 per year were likeliest to say lower rent would most likely improve their financial situation.
The geographical distribution of these sentiments shows that people in the Midwest are most likely to say cheaper essentials would most likely improve their personal financial situation in the near future. Meanwhile, more younger Americans (Gen Zers and millennials) year-over-year say they haven't made any progress on their financial regret.
For those seeking advice on managing their finances, many local financial advisors offer services without minimum asset requirements, making them accessible to people of all income levels. A financial advisor can help with debt payoff strategies, budgeting, retirement planning, saving for college education, estate planning, and more.
The survey also found that 15% of people say labor market-related factors would improve their personal financial situation, with 11% citing better job opportunities and 4% citing better job security.
In conclusion, while the number of Americans with financial regrets has decreased slightly, a significant portion of the population still feels remorse about their financial situation. However, with the availability of financial advisors and strategies for managing essential expenses and debt, there are opportunities for improvement.
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