The 12 Biggest Money Regrets of the Rich and Frugal

A Reddit user shared a thread on the forum denoting how often she saw posts about how people wish they saved while young and how they neglected saving while young.

She was interested to hear people beyond their Middle Ages talk about their money regrets that resulted from being too frugal while they were young.  The thread attracted a lot of responses, and we have sampled the best ones here.

Skipped Wonderful Wedding Experience

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“Skipped a few destination weddings that would have been nice to be a part of in retrospect – we were young enough that we didn’t recognize the importance nor that the amount of money would seem pretty insignificant in the future,” said one user.

Lost Time With Loved One

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A user regrets not spending time with his ailing wife, “My spouse retired 2 years ago in her late 40s, I am mid 50’s but was too afraid to retire. Wanted to keep working “one more year” just to be safe, In my third year of that. My wife passed away very suddenly a few weeks ago. I wish I would have retired instead of hanging on for “one more year”. I cannot get that time back.”

Not Traveling More

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One user regrets not spending time traveling while they were young, “I saved aggressively throughout my early 20s to become a homeowner in BC and set myself up for early retirement. I wouldn’t call them big regrets, but if given the opportunity, I would spend more on entertainment and travel. I skipped too many concerts/restaurants/destinations because of the price tag.”

Buying Cheap Low-Quality Products

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“Years ago, I bought an adult bicycle from Canadian Tire for 0. It was shiny and had all the bells and whistles. After a few years, it was a piece of junk. Recently, I bought a new, very simple bike from a respectable bike shop for $800. Right away, I can tell that this is the bike I should have bought in the first place,” said one user.

Missed Linking With Friends

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Another user missed having good memories with friends while they were young, “Missed a few trips with childhood friends in my early 20s because I didn’t have the money and didn’t want to put it on my credit card, even though I could have paid it off in a fairly reasonable amount of time. Didn’t realize how quickly people would move on/away, and that those opportunities with friends wouldn’t be around forever.”

She Never Enjoyed Their Financial Success

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A user said that his inlaws worked too hard that the mother never got a chance to enjoy their success,” My inlaws ended up owning 10 houses in their 40s. They didn’t spend on vacations, entertainment, or anything; they just saved and put the money into the houses. My mother-in-law died at 56. My father-in-law told me when he was in his 70s, his biggest regret is that my mother-in-law never got to enjoy their financial success. No trips, no fancy dinners. Saving is very important to me, but I always try to balance saving with enjoying what I have. You can’t take it with you.”

Skipped Birthdays and Memories

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Another user remembered the opportunities his family lost, “My parents starting skipping birthdays, celebrations of any kind after I turned 10… nothing was ever celebrated to save money. I’ll bet my mother regrets that because all that lost bonding time means I hardly ever talk to her – and when we do, it’s constant fighting. Spend the money. Celebrate the things. You have mere years to live, and any day, like today, your life could end. Be smart with money but don’t hold back living.”

Delayed Car Purchase

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One user regrets not making a strategic purchase when they could, “Probably, car purchase delayed too much. I should have replaced my minivan in 2019 before covid instead of trying to squeeze the last miles out of it. Now, used ones with 100k mileage cost the same as new ones in pre-covid, and new ones are prohibitively expensive.”

Living Like a Student To Save and Then Getting Diagnosed With Cancer

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“We have a friend that lived like a college student all his life……had a good job with a good pension……but saved every penny for his retirement. He retired a couple of years ago and has been diagnosed with cancer that could definitely cut short his lifespan. My advice to people is be sensible with your money and don’t overdo the debt……but do the things you want to do when you’re young and your health is good,” advised another user.

Selling Shares of a Lucrative Investment

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One user regrets cashing early on shares that came to blow up in value, “When I went to Law School, I had to cash in all of my savings to pay the tuition. I sold my shares in AAPL for ~$3,500 in the early 2000s to pay for books, etc. Those shares surpassed $500,000 about 6 years ago. I have earned more from the education…but that still drives me nuts.”

Skipping Buying Property That Increased in Value Tremendously Later On

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“I had the opportunity to buy some waterfront acreage near Haliburton that was quite cheap some years ago that I could have very easily afforded, but my wife vetoed the purchase. Today there’s no way I could afford even a property 1/25 the size up there the way prices have gone up, and the dream is dead, “ said another user.

Not Buying a Painting That Haunted the User Forever

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A user keeps regretting why he never made a very coveted purchase years ago, “Maybe overly specific, but on my honeymoon almost 24 years ago, we went into an art gallery in Stratford. There was an awesome, fairly large picture by an Indigenous artist that I loved. It was around 300 bucks. We had the cash from the wedding, but we hemmed and hawed and walked away. I think about that picture a lot.”

Buying Cheap Stuff and Spending More in the Long Run

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“Not me, but my fiancé would be more frugal for a lot of things, trying to save money where she can. She would buy cheaper headphones and shoes and try to convince herself that she liked them, but then realized they would be too uncomfortable or they’d hurt after a while. She then ends up buying the more expensive/reputable brands later on, spending more money than if she were to have bought them in the first place, “added another user.

Living and Dying Like a Pauper

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Another user shared a personal experience on what she observed growing up, “My neighbor growing up was a multi-millionaire and was one of the cheapest guys I know until he died, and all his farms went to his 90-year-old sister on the other side of the country.”

23 Side Hustles You Never Considered That Make More Than Your 9 to 5

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Have you ever wanted to make a lot of money from a side hustle and quit your 9 to 5? You may know about the typical side hustles, but I bet you never even heard of these lucrative side hustles!

23 Side Hustles You Never Considered That Make More Than Your 9 to 5

9 So-Called “Frugal” Habits That Are Actually A Waste Of Time And Money

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Not everything is frugal! I am sure you have read articles and tips that promote frugal living and give some ideas that are just not frugal! These frugal myths float around and sometimes even cost people a lot of money!

9 So-Called “Frugal” Habits That Are Actually a Waste of Time and Money

12 Frugal Hacks That Make All The Difference

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A Reddit user who started the frugal journey with his wife a couple of years ago wanted to know the frugal hacks people had that made all the difference.

According to the OP, shopping grocery sales every week and planning their meals helped cut their bill from $250 to $100 per week. Other users shared their stories about frugal hacks they had that made some difference in their lives. Here are some of the best ones.

12 Frugal Hacks That Make All The Difference 

12 Items Frugal People Proudly Exclude From Their Shopping List

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Frugal people are known to spend their money wisely. They live within their means and don’t spend a lot of money. According to a thread on Quora, here are some common things frugal people never buy.

12 Items Frugal People Proudly Exclude from Their Shopping List

People Who Grew Up Poor Share The 20 Ultimate “Poor” People Hacks

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Life’s thrown us a curveball, and our bank accounts might be staging a rebellion, but fear not! We’ve got something up our sleeves- a treasure trove of tips and tricks that will have you grinning ear to ear as you outsmart the very concept of scarcity. Being broke? It’s not a limitation; it’s a canvas for creativity!

People Who Grew up Poor Share the 20 Ultimate “Poor” People Hacks

This article was produced and syndicated by A Dime Saved.