NerdWallet's Smart Money Podcast
Regret Less, Save More: How to Make Smarter Money Moves in 2025
Thu, 02 Jan 2025
Learn how to tackle financial regrets, set achievable money goals, and make 2025 your best year financially. How can you avoid repeating your biggest financial regrets this year? What are simple steps to improve your savings and spending habits? Hosts Sean Pyles and Sara Rathner discuss financial regrets and practical resolutions to help you take control of your money in 2025, beginning with a discussion of top financial regrets from 2024. Then, Sara talks to NerdWallet Senior Economist Elizabeth Renter about strategies for creating achievable money goals and overcoming common financial missteps. They share tips for mindful spending, setting boundaries for entertainment and dining budgets, and building habits that improve your credit score. Use NerdWallet’s free savings calculator to understand how your money can grow over time: https://www.nerdwallet.com/calculator/savings-calculator In their conversation, the Nerds discuss: financial regrets, how to avoid financial regrets, money goals for 2025, saving tips, budgeting tips, how to budget better, spending habits, improving credit score, automating savings, financial goals, dining out budget, entertainment budget, setting financial boundaries, avoiding overspending, saving for emergencies, saving for financial goals, improving credit utilization, tracking expenses, mindful spending, managing credit cards, financial planning, New Year’s money resolutions, saving on groceries, setting savings goals, avoiding debt, credit score improvement tips, staying out of debt, financial resolutions, credit card tips, spending wisely, financial health, financial planning tips, creating a budget, setting money goals, saving money consistently, and staying financially healthy. To send the Nerds your money questions, call or text the Nerd hotline at 901-730-6373 or email [email protected]. Like what you hear? Please leave us a review and tell a friend.
Chapter 1: What financial regrets did Americans have in 2024?
and about how to turn those frowns upside down. I'm always up for learning from past mistakes. Otherwise, what's the point of making them?
I would rather not make them in the first place, but if they're going to be made anyway, yes, let's learn from them.
As we start a series of episodes looking at your money in 2025, we want to hear what you think, listeners. What are you working on in your financial life as you start the new year? Leave us a voicemail or text the Nerd Hotline at 901-730-6373. That's 901-730-NERD. Or email a voice memo to podcast at nerdwallet.com.
Up next, we're talking with NerdWallet chief economist Elizabeth Renter about that survey and her advice for making this coming year the best ever, financially speaking at least. Elizabeth Renter, happy new year. And I really hope that you don't have very many regrets from 2024. I mean, at least not financial ones, maybe some fun ones. Hey, Sarah, thanks. And happy new year. Thanks for having me.
Some of those regrets I'm going to keep to myself. Probably a wise decision. I did do a lot in 2024. And financially, that included paying off my master's degree and selling a home to move halfway across the country. So there were some big financial milestones, but also room for improvement.
I think there's always some room for improvement when it comes to our finances, even if we don't necessarily have regrets.
And we're going to get into money New Year's resolutions a little bit later on. But first, let's turn the clock back to like, I don't know, two days ago when it was still 2024. And now it's 2025. Let's talk about financial regrets from 2024. We've got this survey conducted for NerdWallet by the Harris Poll. Let's start with how many of us have money-related regrets?
Hopefully not a lot. Well, actually, most of us have money regrets for the year. 69% of Americans say they had financial regrets for 2024. And those range from not saving enough to overspending on a variety of categories.
I am definitely sorry to hear that, but maybe a few more hours spent listening to the Smart Money podcast, hint, hint, will help with that for this year. Let's break this down by generation. Who's got the most regrets?
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Chapter 2: How can you set effective money goals for 2025?
Nice to you, Sarah, because we'll be getting to all of those topics as the month goes on. Next week, we'll have some advice for those of you who are looking to get more informed about investing.
I do believe that people should generally build a safe and boring portfolio of index funds first, and then they can speculate with whatever money they've got left over. And I'm practicing what I preach there.
For now, that's all we have for this episode. Do you have a money question of your own? Turn to the nerds and call or text us your questions at 901-730-6373. That's 901-730-NERD. You could also email us at podcast at nerdwallet.com. And remember, you can follow the show on your favorite podcast app, including Spotify, Apple Podcasts, and iHeart Radio to automatically download new episodes.
This episode was produced by Tess Vigeland. I helped with editing. Amanda Derangowski helped with fact-checking. Megan Maurer makes our audio. And a big thank you to NerdWallet's editors for all their help.
And here's our brief disclaimer. We are not financial or investment advisors. This nerdy info is provided for general educational and entertainment purposes and may not apply to your specific circumstances.
And with that said, until next time, turn to the nerds.
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