US Citizens Regret Their Savings Habits – How?
Jakarta, CNBC Indonesia — Many people only realize the importance of saving when their financial situation starts to become difficult. This phenomenon is also happening in the United States, where most people admit to having regrets about their money management.
One of the biggest problems that many regret is not having enough savings. From emergency funds to retirement savings and children’s education costs, these are all sources of financial concern for US citizens.
This condition was revealed in a Bankrate survey of 2,078 respondents in the US. The results showed that insufficient saving is the biggest financial regret among Americans this year.
The survey shows that 3 out of 4 Americans have financial regrets, and about 40% cite savings as their main source of concern. Meanwhile, another 20% regret taking on too much debt, especially from credit cards and student loans.
“Regret about not saving enough for retirement comes up every year, and the number is getting bigger with age,” said Bankrate financial analyst Stephen Kates, quoted by CNBC International, Sunday (16/5/2026).
Meanwhile, 43% of respondents admitted that they have not done anything to improve their financial regrets in the past year. When asked what could help their financial situation the most, US citizens cited lower basic needs costs, better job opportunities, lower rental rates, and a recovering stock market.
This condition is actually quite similar to Indonesia. Data from the Financial Services Authority (OJK) shows that only 76.3% of Indonesians have bank accounts in formal financial institutions.
Meanwhile, according to the latest data from OJK, there are about 29 million workers registered as participants in pension funds. Meanwhile, the number of working-age people based on the National Labor Force Survey (Sakernas) in August 2025 reached 154 million people.
If you currently do not have adequate savings for emergency funds and retirement funds, three financial experts provide advice on how to improve this financial situation. “Starting late is better than never starting,” said Jake Martin.
How to Overcome Financial Regret
Several US financial experts provided strategies that are also relevant for Indonesians:
- First, address the ‘financial fires’
Prioritize paying off high-interest debt such as credit cards or online loans. Accumulated interest can eat away at savings.
Another way to increase savings is by cutting fixed expenses, a strategy called controlling what you can control by Ashton Lawrence.
“Identify where money for non-essential things leaks out, whether it’s for eating out, too many streaming services, forgotten app subscriptions, delivery services, impulse shopping, or an increasingly expensive lifestyle. Every penny you don’t spend is money you can allocate to something more useful,” he said.
- Prepare emergency funds for 3-6 months of living expenses
Emergency funds prevent you from going back into debt when unexpected things happen, such as losing your job or sudden health costs. Prepare emergency funds by calculating the cost of living for 3-6 months.
Emergency funds are also crucial to help reduce dependence on high-interest debt when something unexpected happens.
- Increase retirement savings
After the above two things can be controlled, prepare retirement funds for old age.
“While most people target saving 5% to 10% of their income, someone who is trying to catch up should look for ways to increase that portion of their savings to 20% to 30%, especially if they start saving seriously in their 40s,” said Martin.
In certain conditions, you may also need to consider delaying retirement age if you need more time to save.
“The exact amount you need to save will vary depending on a number of factors, including your age and the lifestyle you want when you retire,” he said.