Here's How To Beat Financial Regret This Year

If you really don't have any financial regrets from the past year... Congrats! You're literally 1 in 200! 

According to the latest research from GoBankingRates.com only, .47 percent of Americans didn't have financial regrets. While it's great if that's you...The odds are it isn't - so let's look at what they were so we can avoid them this year: 

  • 36 percent not saving enough 

  • 23 percent Frivolous spending 

  • 11 percent Not investing in stocks 

  • 11 percent Taking on too much debt 

  • 8 percent Paying for college 

  • 7 percent Living above one's means 

No surprises, really right? But what's really going to change if you don't have a plan. This is the perfect opportunity for me to break out my "a-third plan". 

The plan is super straight forward. 

It allows you to make progress across all aspects of your financial life simultaneously. The most common reason why people don't reach financial goals is not having a plan. For those who do have a plan the most common reason it isn't success is because it lacks balance and eventually life circumstances or impulsive moments blow them up. That's what the third plan addresses.  

Here's the breakdown...You take a third of free cash flow and:  

  • Save and invest a third  

  • Use a third to pay down debt (starting with your highest interest rate debt first) 

  • A third that goes into an account for fun stuff and extras 

By doing this you'll be making consistent progress on a relative basis across all of your goals in a sustainable way. So enough with regrets. Use my third plan. 


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