The poll* found that more than a fifth (21%) of people said they regret overspending on “consumables” such as clothes and meals out, and 19% felt remorse about spending more than they earned. As rising living costs make it harder to manage short-term pressures, the leading financial wellbeing firm says that it’s never been more important for individuals to access tailored financial support to learn small steps about how to control their spending or these regrets are likely to grow.
It isn’t just spending that causes worry, as a fifth (20%) of those questioned regretted building up credit card debt, 13% were having second thoughts about making purchases on a pay-later basis, while a further 13% felt remorse about borrowing from friends or family. One in ten (11%) were also regretting taking out a payday loans.
The research showed that financial regret is hitting younger generations particularly hard, with social and lifestyle pressures having a role to play. Nearly a third (32%) of younger adults said they regret building up debt through overspending. More than a quarter (28%) among 18–24-year-olds. Concerningly, everyday spending decisions appear to be increasingly shaped by expectations and comparison, rather than affordability alone. Only one in five (19.8%) 18–24-year-olds said they felt no pressure to present a certain lifestyle or image, which could be leading to the extra expense. Having a clearer picture of where money is going can help people push back against these pressures. It’s a small but important step towards healthier habits and less financial regret over time.
Commenting on the cost of livings impact on debt regret, Georgia Hall, Chartered Financial Planner, Hymans Robertson Personal Wealth, says: “Rising living costs provide an important backdrop to these findings, with spending on items many people would consider essential increasing sharply over a relatively short period of time. At the same time, the way we spend has changed. Pay later schemes and card stored check out models mean everyday purchases are often broken into smaller, regular payments, which can make the true cost less visible in the moment. For many people, it’s only in hindsight that the cumulative impact of this spending becomes clear, once financial commitments have already built up.
“What’s particularly striking is how debt regret shows up differently at different life stages. Younger adults tend to regret everyday spending, while those in mid-life are more likely to regret longer-term credit card debt. But the root of the problem is often the same: many people drift into unhealthy habits without clear financial foundations, with one in ten (10%) adults saying they never received financial education and now struggle to manage their money.
“Everyday costs are unavoidable, but regret isn’t. Becoming more aware of where money is going, understanding the long-term cost of credit, and taking time to review regular outgoings can help people feel more in control. Importantly, seeking guidance is not a sign of failure. Access to clear, tailored financial support can help individuals make sense of competing pressures, rebuild confidence, and put practical steps in place to improve long-term financial resilience.”
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