Top Money Regrets of Canadian Women and How Gen Z Can Avoid Them

Nearly seven in ten Canadian women (69%) say they would have made different financial choices if they could go back in time, according to new research from Meridian. That sense of regret is strongest among women in their late 20s through their mid-40s—the years when financial decisions begin to compound and have the biggest long-term effects.

If that statistic gives you pause, consider it a useful warning rather than a verdict. Hearing about others’ regrets offers a chance to learn from those mistakes and take steps now to avoid repeating them.

So what are the most common regrets Millennial women report, and what practical actions can Gen Z take today to get ahead?

Starting sooner changes everything

The most frequent regret that comes up again and again is starting too late. Many people delay investing because they don’t feel confident or knowledgeable enough at the beginning of their careers.

“The biggest regret is waiting too long to start investing,” says Dilys D’Cruz, Senior Vice-President of Retail & Wealth at Meridian Credit Union. That hesitation is rarely laziness; it’s often uncertainty about where to begin or a belief that you don’t have enough money to make investing worthwhile.

The painful reality is that time matters more than the size of your initial contributions. Waiting several years to start can significantly reduce long-term portfolio growth. The practical takeaway for younger people is not to wait until you feel like an expert; start imperfectly and start early. Even small, regular contributions, automated to happen without active decisions, can compound into meaningful savings over decades.

If your employer provides a retirement plan with matching contributions, taking full advantage of that match is one of the quickest ways to accelerate your savings—essentially turning part of your contribution into immediate, guaranteed returns.

Living paycheque to paycheque has a long tail

Another common regret is failing to build a financial cushion early on. Many people wish they had started an emergency fund sooner instead of living day-to-day. The consequence of living paycheque to paycheque is that any unexpected expense can become a major setback.

Meridian’s research found that a large share of women are focused on covering day-to-day bills and experience persistent money stress. When financial energy goes toward short-term survival, planning for the future feels like a luxury—but small, consistent changes can break that cycle.

D’Cruz strongly recommends automating savings: set up transfers from your paycheque or checking account so money is moved into savings before you have a chance to spend it. Automation reduces decision fatigue and helps savings grow without relying on willpower. Even modest amounts, such as $25 per paycheque, will build momentum when increased gradually over time.

Avoiding credit can backfire

Many people either overuse credit or avoid it entirely. Both approaches carry costs. Building a responsible credit history matters because your credit score affects access to loans and the interest rates you’ll pay when you make larger purchases, like a car or a home.

Use credit strategically: keep balances low, pay on time, and treat credit as a tool to build a positive history rather than something to fear. Learning the basics of credit management early prevents the regret of finding yourself without an established score when you later need financing.

It all comes back to confidence

Underneath many of these regrets is a lack of confidence. Younger women in their 20s and early 30s frequently report high levels of financial stress tied to uncertainty—feeling they don’t know enough to make the “right” choices.

“What was preventing them from starting was a lack of confidence. They didn’t feel they had the knowledge, the support, and they didn’t really know what direction to go in,” D’Cruz explains. In the absence of confidence, many people do nothing at all.

The remedy is education focused not only on numbers and spreadsheets, but also on habits, triggers, and behaviours. Understanding why you spend, what prompts impulse purchases, and how to set up systems that support good habits can be as important as understanding investment returns.

Programs that break financial lessons into short, practical steps—covering topics like recognizing spending triggers or using a 24-hour pause before impulse purchases—can help build confidence. The emotional side of money matters: your reactions, beliefs, and routines shape long-term outcomes as much as income does.

What Gen Z can do differently now

Viewed broadly, common regrets are rarely one big mistake; they are the result of many small delays and missed opportunities that add up over time. The good news is the solutions are equally incremental and accessible—especially if you start early.

10 smart money moves Gen Z can make now

To avoid common financial regrets later, consider these practical steps that compound in value over time:

Start investing early, even if it’s a small amount like $25 per paycheque.
Automate savings and investments so they happen without you having to decide each month.
Contribute enough to employer plans to capture any matching contributions.
Build an emergency fund gradually to cover unexpected expenses.
Learn the basics of investing—understand risk, diversification, and time horizon.
Use credit responsibly to build a positive credit history rather than avoiding it entirely.
Track your cash flow so you know what’s coming in and what’s going out.
Rely on trusted, factual financial resources and be cautious about advice from social media personalities.
Pay attention to your money habits and emotional spending triggers.
Pause before impulse purchases—try a 24-hour rule for non-essential buys.