What Is Your Biggest Financial Regret?
We all have financial regrets that we look back on from time to time. This is perfectly normal and not something to be ashamed of.
In fact, it can do us good to think about these regrets now and then. Instead of trying to sweep them under the carpet we can then try and learn from them to avoid making similar mistakes in the future.
Not Going to College
For a long time not going on to take some sort of further education was a big regret of mine. I felt that with some sort of additional qualification would have helped me get further at work and earn more money as well. In the end, my life took a different route in which qualifications don’t matter and for a long time I haven’t even thought about the subject. However, from this experience I think I have learned to value education more and I’m definitely going to try and encourage my daughter to carry on studying for a few extra years. Heck, I might even pay for it.
Not Buying a House When Prices Were Low
Do you remember the days when houses seemed incredibly cheap but you never bought one? Property is one of those investments that tend to always do well over the long term. For example, I remember a beautiful rural property near where my parents lived when I was a kid. It is probably worth a fortune now but when I first started working it was within my price range if I had taken the risk on a big mortgage. Thankfully, this experience has stood me in good stead in recent years. I now live in a developing country in South America and when I first got here I made it my priority to buy some real estate. Prices have started going up now and I’m delighted that I didn’t miss the boat for a second time.
Not Being Adventurous Enough
Do you sometimes regret not being adventurous enough with your money? Maybe you once considered buying shares in a new company called Apple or perhaps a young guy called Donald Trump once asked you to lend him a few bucks and go into business with him. Ok, maybe not but you get the point. There are opportunities that pass us by time and again and the important point is to learn from any missed opportunities.
Being Too Adventurous
On the other hand, maybe you have lost money through being too adventurous in the past. Taking risks occasionally can be a good thing but it could be that you have learned not to be quite so bold in your decision making. We all need to find the level of financial risk that we are comfortable with and sometimes the only way of doing this is to make some mistakes and learn from them.
Not Paying Enough Attention to Your Finances
Finally, is it possible that you have simply not paid enough attention to your finances in the past? This is easy to do if you are earning good money and don’t feel much need to check out interest rates or investment possibilities. However, if you don’t take the time to find out how to make your money work harder for you then at some point you are sure to regret it. Sometimes all it takes is a couple of hours a week to put your finances in order and get a better return on your money. It might not seem like a big deal at the moment but at some point in the future you will be able to look back and be grateful for what you did in the past.
So what is your biggest financial regret?