Finance

Gen Z Isn’t Too Young for These 3 Financial Regrets: How They Can Overcome Them

Published

2 years ago

August 11, 2024

Gen Z Isn’t Too Young for These 3 Financial Regrets: How They Can Overcome Them

Delmaine Donson / iStock.com

Though the youngest end of Gen Z are not old enough to live alone and work full time, those on the older end are well into their 20s, working and trying to survive in the world. Though they may be young, they’re not too young to have financial regrets.

There’s nothing quite like getting out into the world on your own to teach anyone just how challenging it is to manage finances and plan for the future at the same time.

GOBankingRates spoke with several Gen Zers about their financial regrets, what they learned and their advice for others.

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Earning passive income doesn’t need to be difficult. You can start this week.

Regret: Not Saving or Budgeting Money

Lena, a 24 year-old nanny based in New York, had her parents’ help saving the money she received as gifts from birthdays, graduation gifts and small summer jobs when she was young. But when she arrived at college, she quickly realized she didn’t have the budgeting skills she needed.

“Unfortunately I had no idea what to do with [the money], and blew through it before I graduated. Now I’m living on my own, paying my own rent and bills and I wish I had saved some of that money for now when I really need it,” she said.

Read Next: 6 Things the Middle Class Should Sell To Build Their Savings

Solution: Find a Budget That Works for You

It was in college that Lena learned budgeting skills. Now, she goes over her credit card statement in detail at the end of the month and uses a spreadsheet to add up her purchases in a number of categories. “This makes me super aware of how I’m spending my money, keeping me accountable and reduces making stupid purchases,” she explained.

She stresses that using a credit card is only useful if you pay it off at the end of every month, but it has the added bonus of building great credit.

Now, she has a savings account that she can only contribute a small amount to after expenses, but she is happy to be on the right track.

“If I had been doing that in college, I would’ve been more aware of my spending habits and could have made better choices. I know I spent a ridiculous amount on Starbucks, food delivery and nights out.”

Regret: Taking On Student Loan Debt

Mary McClelland, a Gen Z artist living in New York City, was unable to finish college after the COVID-19 pandemic hit. This left her only with an associate’s degree and $100,000 worth of student loan debt, for, she said, “what feels like no reason, and little to no hope of being able to pay it off in my lifetime.”

Solution: Community College

If she could have done it differently, she would have gone straight to community college after high school and joined a trade school or international program instead of a four-year college.

“College used to be a guarantee to a career and a seemingly comfortable life, but that’s just not the case anymore,” she said. “It seems like everyone my age is struggling financially, degree or no. It’s not like me to have a regret about the way my life has worked out because it’s ultimately brought me so much experience.”

Despite her regret, she is grateful for the life experience she gained. McClelland’s advice to others is: “Believe in yourself and the decisions you are making for yourself. You did what you thought was best for you at the time. It’s OK to live and learn, forgive yourself.”

Regret: Spending Too Much Money on DoorDash and Dining Out

Solveig Q., a 25-year-old master’s student and bartender in Colorado, regrets how much money she has spent on DoorDash.

“I probably spent up to $300 a month on DoorDash and sometimes more, which is $3,600 a year. I wish I’d saved that money and meal-prepped instead,” she remarked.

Solution: Meal Prep

Solveig did finally get a handle on her spending and changed her habits. “Over the last couple months I started meal prepping more and have saved $600 and I’m eating healthier. I would tell the younger generation that meal prepping is so much better for you and you will save so much money.”

She saves to eat a nice dinner out once a month. “I understand it’s hard to balance school, work and eating healthy,” she said, “but once you get in the hang of meal prepping it’s fun and a lot easier.”

Sometimes the best financial teachers are the mistakes you make along the way. These Gen Zers are still young enough to get past their financial mistakes and find solid footing along the way.

More From GOBankingRates

This article originally appeared on GOBankingRates.com: Gen Z Isn’t Too Young for These 3 Financial Regrets: How They Can Overcome Them

Finance

How to make your offer stand out in a competitive housing market

Published

8 hours ago

March 11, 2026

Press Room

How to make your offer stand out in a competitive housing market

With the weather finally thawed and kids out of school, spring and summer are the busiest seasons for homebuying. This can mean more options to choose from on the market — but it can also mean more competition.

Going through the work of putting together an offer on a house you are excited about, only to get beat out by other buyers, can feel like a major letdown. So, how can you make your home offer stand out if you are wading into a hot housing market? From having your own affairs in order to being flexible and savvy in the offer you craft, here are some tricks you can implement to improve your odds of winning out.

Have everything in order before bidding

If you are trying to buy in a fast-moving, competitive market, it is vital that you have all your ducks in a row before you get to the point of submitting an offer on a home. This means working with an experienced, knowledgeable real estate agent you can trust, and already having mortgage preapproval in hand, so you have a ballpark idea of how much you will actually be able to borrow.

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The former will help you ensure you are putting your best (and most strategic) foot forward when you make an offer, and the latter will provide peace of mind for the seller, given that “in a competitive market, sellers will likely have multiple offers to choose from and will look for a buyer who is able to close on the sale,” said Zillow.

Understand the market, the property and the seller

When it comes to this, the real estate agent you work with can make all the difference. “Their deep market knowledge allows agents to identify accurate comparable listings and help buyers price offers more strategically,” said USA Today. They will also “know how quickly homes are selling in a given area and can communicate quickly and effectively with listing agents.”

An agent can often get insight into what is most important to a particular seller — whether that is a quick closing timeline, the security of a cash offer or an above-listing price — and help ensure your offer checks those boxes.

Consider ways to sweeten your offer

Depending on what feels reasonable and is doable for you, there are a number of steps you can take to make your offer more enticing, including:

Increase your earnest money deposit. This is a deposit made upfront to demonstrate your seriousness about and ability to purchase the home. Typically, it is “around 1% to 3% of the purchase price,” but “in a competitive market, you may choose to increase this to 5% or higher to stand out and prove your commitment,” said Investopedia.

Add in an escalation clause. With an escalation clause, your offer automatically increases, up to a specified maximum, if another buyer in the running outbids you. This can “help you stay in the running if another offer comes in for slightly more than yours,” said Rocket Mortgage, though it is not always necessary or even allowed in certain markets.

Offer concessions. Offering the seller concessions can “make your offer more attractive,” said Rocket Mortgage, though it is also vital here to ensure what you offer is workable for you. Common examples of concessions include offering to pay certain fees, such as the agents’ commission or the seller’s real estate attorney fees, or purchasing the property as-is.

Finance

By the Numbers: Financial report reveals scale of financial costs, growth

Published

20 hours ago

March 11, 2026

Press Room

By the Numbers: Financial report reveals scale of financial costs, growth

Following a year marked by financial turbulence, Northwestern’s financial report for fiscal year 2025 revealed the University’s struggles and growth as they navigated a tumultuous landscape in higher education.

The latest report detailed fiscal year 2025, which began Sept. 1, 2024 and ended Aug. 31, 2025. It did not include the University’s stipulated $75 million payment to the federal government, which was part of the agreement struck in November 2025.

According to the University’s 2025 financial report, net assets sit at $16.2 billion, up from 2024’s $15.6 billion. However, the University spent almost $148 million more than it brought in during fiscal year 2025.

In the last five fiscal years, the University has increased steadily in operating costs for assets without donor restrictions.

Year-to-year increases in operating costs hovered around 10% in the past five fiscal years. Simultaneously, revenue growth has decreased year to year, from 12.8% between 2021 to 2022 to only 3.9% between 2024 to 2025.

Amanda Distel, NU’s chief financial officer, identified “rising benefits expenses, litigation, new labor contracts, and rapidly unfolding federal actions” as key challenges in fiscal year 2025 in the report.

Before the deal, NU invested between $30 to $40 million each month to sustain research impacted by the federal freeze, interim President Henry Bienen confirmed in an Oct. 24 interview with The Daily.

In an attempt to reduce costs, the University announced a switch in July to UnitedHealthcare from Blue Cross Blue Shield as the University’s employee health care administrator, effective Jan. 1. However, faculty and staff have reported increased out-of-pocket costs for certain services like mental health care.

Financial aid increased from $618.3 million in fiscal 2024 to $638.3 million in fiscal year 2025. Among undergraduate students in the 2024-25 school year, 15% are first-generation college students and 22% receive federal Pell Grants. According to the report, most families earning less than $70,000 per year attend at no cost, and most families earning less than $150,000 per year attend tuition-free.

Tuition is the second largest source of revenue behind grants and contracts. By the end of the fiscal year, the University held $778 million in outstanding conditional awards, an increase from fiscal 2024’s $713.5 million, according to the report.

Distel wrote that the number of gift commitments above $100,000 reached its highest in University history, calling it a “strong year of philanthropic support.”

Donor funds are categorized by whether or not restrictions were imposed on the time, use or nature of the donation. In fiscal 2025, University net assets without donor restrictions totaled $9.59 billion, or 59.1%, while net assets with donor restrictions totaled $6.65 billion, or 40.9%, of total net assets.

The University’s investment in construction efforts saw an immense uptick from $275.2 million in fiscal 2024 to $750.5 million in fiscal 2025.

This cost is spread across multiple projects, such as Ryan Field, which started construction in 2024 and is slated to open October 2026. The project operates with a $862 million budget, including a $480 million contribution from the Ryan family.

The Ann McIlrath Drake Executive Center, Cohen Lawn and Jacobs Center renovations also continued during the fiscal year.

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Related Stories:

— The Daily Explains: How does Northwestern spend its money?

— Northwestern NIH, NSF grant cessations total more than $1 billion

— Northwestern announces 3.3% tuition increase ahead of 2025-26 academic year

Finance

When should kids start learning about money? Advice from local financial advisor

Published

1 day ago

March 10, 2026

Press Room

When should kids start learning about money? Advice from local financial advisor

REDMOND, Wash. — When should kids start learning about money, and preparing for adult expenses like rent, car payments, and insurance?

It’s a question asked recently by an ARC Seattle viewer.

We took the question to Adam Powell, Financial Advisor at Private Advisory Group in Redmond. Powell talked with ARC Seattle co-anchor Steve McCarron to share insights on the right age to form money habits, common financial mistakes parents unknowingly pass down to their children, and practical tips to set kids up for long-term financial success.

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