Americans Financial Regrets Revealed: Survey Highlights Credit Card Overspending as Top Concern

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In Debt and Full of Regret
In Debt and Full of Regret, a leading financial resource, unveils startling insights from its recent survey of 1,000 Americans, shedding light on prevalent financial regrets during Financial Literacy Month.

According to the survey findings, a staggering 78% of respondents admitted to harboring financial regrets, with overspending on credit cards emerging as the primary remorse for one in five individuals.

Its unsurprising that credit card debt is a mounting concern. With over 1 billion credit cards in circulation in the United States for a population of 333 million, the escalation of credit card balances directly correlates with increased financial stress.

Don Silvestri

President of

The extent of credit card debt among respondents is equally concerning. More than a quarter (26%) reported carrying a balance ranging from $15,000 to $30,000, while 15% acknowledged owing between $30,000 and $50,000.

Nearly half of respondents admit that their credit card debt is a constant source of worry and say their credit card debt is always on their mind. Whats more, the passage of time seems to amplify this remorse. Over a third (35%) confessed to feeling even worse about their credit card debt now than they did just a year ago.

The survey findings underscore the impact of financial decisions and highlight the importance of financial literacy to empower people and avoid similar regrets in the future.

The research also found:

  • 26% of Millennials say they regret accumulating debt on their credit cards.

  • Not far behind are Gen X and Gen Z with 19% citing the same regret of credit card debt.

  • Gen X is most likely to accept and ignore their credit card debt.

  • 24% of Baby Boomers report having $30,000 to $50,000 in credit card debt.

  • One in 5 of Gen Z regret taking on too much inand 11% of Millennials say the same. 6% of Gen X and only 2% of Baby Boomers have the same regret.

While Gen X has less regret than the younger generations about taking on student loan debt, they have more of it:

  • 35% of Gen X say they took out $200,000 or more in student loans.

  • 30% say they took out between $100,000 to $200,000.

  • More than 30% say they still owe $200,000 or more.

  • 61% have been paying that debt for 7 to 10 years.

  • 17% report they have been paying it off for between 11 to 15 years.

More than 1 in 3 (38%) of Baby Boomers regret not saving for retirement sooner while 25% report having nothing saved for retirement.

If theres any good news here, its this: Regrets arent results, Silvestri says. Whether its saving for retirement or paying down credit cards, there are professionals who can help you starting just with a phone call. can introduce you to certified credit counselors who will give you a free debt analysis. Once you have a clear view of your finances, you can turn those regrets into relief.

About is a consumer website where people can find help with credit card debt, student loan debt, tax debt, credit repair, bankruptcy, and more. works with vetted and certified providers that give the best advice and solutions for consumers when life happens. Finds That Most Americans Live with Financial Regret

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