Consumers Regret Not Saving: Tips To Turn Around Financial Regrets

July 12, 2012

in Tips

Consumers Regret Not Saving: Tips To Turn Around Financial Regrets

Consumers seeking help with their personal finances report a variety of regrets: overspending, inadequately saving, insufficiently preparing for retirement, buying a house and, somewhat contradictorily, not buying a house. That’s according to a recent online poll of more than 2,200 people who stopped by the National Foundation for Credit Counseling, or NFCC, website in June. Habitually overspending was the most common regret, cited by 53 percent of the respondents and far outweighing other financial concerns, according to the NFCC. Eighteen percent reported feeling regretful that they hadn’t saved more. NFCC spokeswoman Gail Cunningham said in a statement that most people have financial regrets, but it’s important not to dwell on past mistakes. “Instead,” Cunningham suggests, consumers should “look forward and take action by constructing a plan that recognizes the realities of the situation, repairs financial damage and moves in a positive direction toward financial security.” That’s good advice, and here, courtesy of the NFCC, are some tips to turn around financial regrets. [Read this article]

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