Financial resolutions don’t always go as planned, despite your best efforts. Student Loan Hero concluded that an overwhelming majority of individuals had money regrets and wished they had managed their money differently after questioning over 1,000 Americans about their financial regrets from the previous year.

In particular, 83 percent of Americans had financial regrets in 2018, up 76 percent in our last study. The worst blunders were taking on credit card debt, not saving enough, and overpaying on non-essentials.

Continue reading for the complete poll findings, as well as tips on what to do if you’re having financial difficulties of your own.

Findings of importance:

• 83 percent of Americans are unhappy with their financial decisions from the previous year.
• 59 percent of people in the United States are low in credit card debt.
• 47 percent of people did not save as much as they would have liked.
• 34 percent overspent on items they didn’t need.
• Only 27% paid off as much debt as they desired.
• 14 percent wish they had put more money into their business.

In terms of particular expenditures:

• Last year, 17% of people who acquired a vehicle regretted their decision.
• 48 percent of Americans believe they need to limit their eating out.

The most common financial regret among Americans is not saving enough.

As we discovered in last year’s poll, the most prevalent financial regret among Americans is not saving as much as they intended to. Respondents stated they didn’t hold as much as they would have wanted and that they spent too much on goods they didn’t need, with 47 percent saying they didn’t save as much as they would have liked.

In terms of particular savings objectives, 29% wish they had saved more for retirement, 27% wish they had saved more for a house, 18% wish they had saved more for a vehicle, 15% wish they had saved more for vacation, and 7% wish they had saved more for education.

However, regrets over not saving enough and spending too much were not the only ones. Other blunders individuals believe they made in 2018 include:

• Only 27% paid off as much debt as they desired.
• 14 percent wish they had put more money into their business.
• 11% of people did not pay their debts on time.
• 7% of people made a poor professional choice.
• 4% purchased a high-priced item they couldn’t afford.

Read more: Personal loans through GAD Capital can be use to aid in debt consolidation.Debt consolidation can streamline your financial situation and could assist in saving money.

A disastrous investment was made by 4% of the population.

If you’re one of the almost half of Americans who wish they had saved more money, it’s time to rethink your strategy. Take some time to set out your savings objectives and the steps you’ll need to take to accomplish them.

Set up a separate savings account and have a part of your paycheck automatically deposited into it on a weekly or monthly basis if feasible. You may build your savings over time by putting this technique in place with no work on your part.

Take a critical look at your spending patterns at the same time. You’ll be in a better position to meet your savings goals or pay off debt if you can identify methods to cut your spending while also using techniques to increase your income.

Nearly half of Americans believe they need to limit their dining out.

So, instead of saving, what are Americans spending their money on? Restaurants, according to our poll, are the largest offender. 48 percent of respondents believe they need to cut down on eating out.

Another significant expense that Americans regret is shopping, with 21% saying they need to cut down on clothing and shoes. Meanwhile, almost one out of every five people wishes they hadn’t spent so much money on smokes.

The following were the other areas where respondents said they needed to make cuts:

• On alcohol purchases, you will save 17%.
• 16 percent off your mobile phone/bill
• Going to the movies is 12 percent of the total cost.
• 12% off your groceries
• 10% discount on coffee
• 9% on video-on-demand services
• 9% is spent on gambling
• 9% discount on travel
• 8% off when purchasing bottled water

More than one-third of respondents believe they spent more than $5,000 in the previous year, money they wish they could have put to better use. What would have been a wiser buy…

• 21% would put it into a retirement account.
• A home would be purchased by 20% of the population.
• A vehicle would be purchased by 14% of respondents.
• 12% of people would go across the globe.
• 10% would put money into equities.
• 7% of respondents said they would start a company.
• 3% of the population would marry.
• Only 2% of the population would have children.

Such regrettable spending also seems to weigh on the conscience, with 46% of respondents admitting to feeling sorry about their non-essential purchases. At the same time, 54% stated they only had partial or no control over their money.

Take time to monitor your spending patterns if you also feel that non-essential spending is burning a hole in your wallet. Determine where you’re overspending so you may make strategies to reduce your expenditure. Expense-tracking programs like Mint and YNAB, for example, may help you keep track of your spending and regain control of your finances.

However, the majority of people do not regret their significant purchases.

While many Americans believe that their regular spending habits are eroding their money, they do not think large expenditures are to blame. A 60 percent majority of those who stated they made a large purchase last year (such as a vehicle, trip, or investment) said they did not regret it.

Nonetheless, some people had second thoughts about major purchases, with vehicles topping the list (17%). Even still, such regrets were uncommon, particularly in other significant assets…

• 12% of people are resentful of the money they spent on their holiday.
• 10% of those who paid for their schooling are remorseful.
• 10% of investors are unhappy with their decision.
• 9 percent of people are unhappy with their home purchase.
• 3% of couples are unhappy with their pay for their wedding.

Although vehicle, home, and wedding expenditures are essential life milestones, if not needs, they may excellently eat into your money. If you’re planning a large purchase for the next year, be sure it fits within your budget and objectives.

That way, you’ll be able to determine if a large purchase is worthwhile or will put your finances in jeopardy.

Almost six out of ten people regret their credit card debt.

Given how difficult it is for many people to pay off debt, it’s no surprise that 59 percent of individuals we polled indicated they regretted having credit card debt. This figure was higher than the 47% who expressed sorrow about credit card debt in last year’s poll.

Similarly, many respondents said they regretted taking out student or personal loans, while fewer said they regretted taking out a car or home equity loan. Specifically:

• 19% of students are remorseful about their school loans (up to three percentage points from last year)
• Only 17% of people regret taking out a personal loan (more than double from 8 percent last year)
• 14% of homeowners are unhappy with their mortgage.
• Medical debt is something that 14% of people regret.
• 13% of people are remorseful about their car loan.
• Of people regret taking out a payday loan.
• A 401(k) loan is regretted by 7% of people.
• 7% of people regret taking out a home equity loan.

Credit card debt, which typically comes with exorbitant interest rates, is one of the most challenging forms of debt to repay. If possible, avoid charging more than you can afford to pay off each month on your credit card.

Also, whether you’re thinking about getting a school loan or a personal loan, check around with a few different lenders. That way, you’ll be able to discover the most significant rate on a loan that won’t cost you a fortune in interest over time.

Take some time to research debt payback options such as the debt snowball and debt avalanche approaches if you’re currently in debt. Although repaying debts might be burdensome, making a plan can help you gradually but steadily work toward a debt-free existence.

The majority of students have no regrets about their education expenses.

With college tuition expenses at an all-time high, almost one out of every four Americans wishes they hadn’t spent so much money. However, a higher 43 percent believe their college investment was worthwhile. And 15% of those who did not attend college regret their choice.

Even though higher education is costly, a college diploma is still valid. However, you don’t want to go into a lot of debt along the way. Compare the expenses of attendance and financial assistance options before deciding on a college.

Apply for scholarships so you may get free money to support your tuition and living costs. Similarly, keep track of how much you borrow in student loans to prevent overextending yourself.

Make the most of last year’s errors by learning from them.

Even if you wish you had spent your money differently last year, it’s pointless to linger on the past. Instead, use your financial missteps as a chance to learn from them and make better decisions in the future.

Create a budget and monitor your spending until you’re back in control, for example, if you’re splurging on non-essentials. If you’re burdened by debt, look into debt repayment and restructuring options like income-driven repayment and student loan refinancing to make it more bearable.

Dealing with financial difficulties may seem incredibly isolated, but as the findings of this study show, you’re not alone in your regrets. Reach out to friends and family for support — a robust support system could be exactly what you need to change your financial situation (though try to be selective when it comes to taking advice).

While you are unlikely to make faultless financial decisions in the next year, you can make enough improvements to have considerably fewer regrets when you look back next year.