Ten women share the regrets they have about how they handled money so we can learn from their mistakes

Aliza

I thought investing was for rich people. It never occurred to me that it was something I could and should be doing; it was totally off the table. And anyway, wasn’t it so complicated? It wasn’t until I was in my mid-30s that I realized I was wrong.

I’ve always been very into personal finance, but honestly, when I was younger, it stemmed from anxiety, born from concern about money. I nagged my husband for years, telling him that we should budget, but he’s not the budgeting type. I finally wore him down (or maybe just convinced him that it was his idea), and we started budgeting a few years ago.

So there I was, reading all these personal finance books, and they all talked about investing and preparing for retirement. I read that and freaked out. Ohmigosh, retirement?! I have no money, how am I supposed to save up? Investing? How can I pick stocks? It’s so risky!

But then I started paying attention to what I was reading and hearing in podcasts, and I realized that index funds and EFTs are the safe, easier way to invest. We started slowly and worked from there.

I sometimes think about how much better off we’d be if we’d started saving and investing earlier. My parents never taught me this, because they didn’t know it themselves, but I want to keep my kids from getting deeper into this hole.

Today I actually deposited $270 of my kids’ money; they’re investing in an EFT. And the other night I sat down with my 11-year-old to talk about the stock market and compounding interest. We took out a calculator and figured it out: if he wants to have an investment goal of 10K by the time he’s 20, how much does he need to put away now? What does he need to do with it? We talked about how many years I have to save for retirement, and I showed him the difference between what I’d have if I started saving now and how much I’d have had if I’d started saving when I was young.

Lesson learned: Investment is for everyone. And compound interest is a beautiful thing.

Malka

Half a year after I got married, we were living in Israel, and I still hadn’t found a job. My father-in-law offered to hire me to work remotely in his company. I was so relieved to find employment, I immediately agreed without thinking it through.

It was a tough beginning, but I kept telling myself that all beginnings are hard. After some time, though, it became clear though that this wasn’t about beginnings; I hated the work and the hours. I was supposed to do a certain number of hours per week, but because I hated it so much, I often ended up working less. I’d then be consumed with guilt over taking advantage of my father-in-law. It made me miserable. At the same time, we needed the money, so I felt trapped.

Once our first child was born, I resigned. It was the easiest and least awkward way out.

Lesson learned: Think things through before you accept a job offer. Think again if it’s being offered by family. And utilize maternity leave to peacefully transition out of a job you aren’t happy at.