Debt's 2025 Financial Regrets Survey Reveals Credit Card Debt Still America's #1 Money Mistake

"In a time of economic uncertainty, it's not surprising that credit card regret has risen," says Howard Dvorkin, CPA , chairman of Debt. "When everyday essentials-from groceries to gas-cost more, people rely on credit cards to close the gap. The problem is that those balances grow fast and so does regret."

Other regrets include:

• Not saving for retirement earlier (23%)
• Falling short in saving for emergencies (18%)
• Taking on too much student loan debt (11%)

Credit Card Debt Burden and Number of Cards Contribute to Regrets

Carrying more credit card debt is increasingly linked to carrying more cards. In Debt's first Financial Regrets Survey conducted in 2024, just 10% of respondents reported having more than six credit cards, now that number is at 16%. Among those who regret overspending on credit cards:

• 40% owe $5,000-$15,000
• 1 in 3 owe more than $15,000
• 1 in 10 carry a balance between $30,000 and $50,000
• Nearly 3 in 10 (29%) have four to five credit cards

More cards also mean more debt. "We're seeing debt regret linked directly to how many cards people are managing. It's financial overload," notes Don Silvestri, president of Debt .

Generational Data Offers Glimpse at Varying Regrets

Generational data shows that financial regrets vary depending on which generation you fall into and suggest the shifting of priorities for others:

• 28% of Gen Z regrets not saving enough emergency expenses
• 26% of Millennials regret charging too much debt on credit cards , a sharp drop from 45% in 2024
• 31% of Gen X wishes they had saved for retirement earlier
• 48% of Baby Boomers regret not saving for retirement earlier

Retirement Savings Second Among Financial Regrets

There are slightly more people with retirement savings regrets this year. The study found that both Gen X and Baby Boomers regret not saving earlier for retirement.

Looking at retirement savings, 20% reveal that they have nothing saved, which is up from 18% last year. Among the typical starting age of those who are saving for retirement, 31% are 26-35 years old, 25% are 36-45 years old and 16% are between 45-55 years old. A surprising positive trend shows that 9% of those between 18-25 years old have already started saving for retirement.

Saving for Emergencies: A Regret and a Concern

Emergency savings are a big concern, especially for Gen Z. More than 1 in 4 (28%) of Gen Z regrets not saving enough for emergency expenses compared to 19% of Millennials, 15% of Gen X, and 12% of Baby Boomers.

The Emotional Toll of Financial Regrets

In 2024, 49% with regret said it was "always on their mind" that number is now 37%. "We're seeing money conversations show up more in pop culture-TV, podcasts, social media. Financial regret is becoming something people talk about openly, and that's a good thing. But talking needs to lead to action," says Silvestri.

Those thinking about their financial regret several times a week increased from 19% to 32% in this year's survey. "Financial regret can be painful, but it's also powerful," Dvorkin added. "Recognizing past mistakes is often the first step toward making smarter decisions moving forward."

About Debt

Debt is a trusted source for consumers seeking help with credit card debt, student loans, tax debt, credit repair, and more. By connecting people with vetted financial professionals and educational tools, Debt empowers Americans to make smart money decisions and regain control of their finances.

SOURCE Debt

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