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From investing too late to lacking an emergency fund, many Canadian women share similar regrets. Here’s what Gen Z can do now to get ahead.
Nearly 7 in 10 Canadian women (69%) say they’d make different financial decisions if they could go back in time, according to new research from Meridian. And for women in their late 20s to mid-40s, the years where money decisions start to compound, the level of regret is even greater.
If that’s a stat that stops you in your tracks, consider it a gift. It’s a chance to learn from the older generation’s hard lessons before they become your own.
So what exactly are Millennial women wishing they’d done differently—and how can Gen Z get ahead of it now?
If there’s one regret that comes up again and again, it’s this: starting too late.
“The biggest regret is waiting too long to start investing… that’s really being driven by not having the confidence and the knowledge early days when you start working,” says Dilys d’Cruz, Senior Vice-President of Retail & Wealth at Meridian Credit Union.
It’s not laziness, it’s hesitation. Not knowing where to start, or feeling like you don’t have “enough” to make it worth it.
But here’s the part that stings: time matters far more than the amount. “Some calculators would suggest that waiting five years to start investing can reduce your long-term portfolio by 25 to 35%,” d’Cruz says.
Unfortunately, that’s not a small penalty for waiting until you feel ready. The takeaway for Gen Z isn’t to suddenly become a market expert, it’s to start imperfectly—and as soon as possible. Even small, automated contributions can snowball into surprisingly powerful results over time.
If your employer offers a savings or pension matching program, taking full advantage of it is one of the simplest ways to accelerate your progress—essentially turning your contributions into “free money.”
Another common theme is the lack of a financial cushion early on. It’s a sentiment reflected in the research: “I wish I had built an emergency fund… and not live day to day, paycheque to paycheque,” d’Cruz illustrates.
That regret feels especially relevant right now. Meridian’s research found that 66% of Canadian women are focused on just getting through day-to-day bills, and nearly 70% report feeling stressed about money.
When your financial energy is going toward survival, planning ahead can feel like a luxury—but even small shifts can help break that cycle.
d’Cruz is a big advocate for automation, “Just set it up in your bank account so money is coming out. Tying it to your paycheque is critical because then it just becomes part of what you do.”
In other words, remove the decision-making and just set it and forget it. Let your system do the work, no matter how small the amount to start. Even setting aside $25 per paycheque and increasing it gradually can build real momentum over time.
Credit is another area where hesitation can quietly cost you. “Credit is really important. It’s important to have a credit score, and it’s also important to invest at the same time,” d’Cruz says.
Many people fall into one of two camps: overusing credit or avoiding it altogether. The sweet spot is somewhere in the middle, using it strategically to build a history you’ll need later.
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That matters more than you might think. Your credit score can affect everything from loan approvals to interest rates when you’re ready to make bigger moves, like buying a car or home.
Underneath all of these regrets is a common thread: confidence. Meridian’s research found that younger women, especially those in their 20s and early 30s, report high levels of financial stress, often tied to feeling like they don’t know enough to make the “right” decisions.
“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 says.
And in the absence of that confidence, many people simply do nothing. That’s where education, and the right kind of education, comes in. Not just numbers and spreadsheets, but understanding your habits, triggers, and behaviours.
Meridian recently launched a free program called On Your Way, which uses short videos and masterclasses to help people better understand their money habits and decision-making. From recognizing spending triggers to simple tactics like waiting 24 hours before making a purchase, the goal is to build confidence through small, practical changes.
“Quite often we think about money as just numbers, but there’s that whole emotional side of money,” she adds. Translation: your financial life isn’t just about what you earn, it’s about how you think, spend, and react.
If you zoom out, the reported regrets aren’t really about one major misstep, they’re about small delays that quietly creep up over time.
The good news? The fixes are just as small and incrementally impactful, and actually more accessible earlier on than you think.
If you want to avoid the most common financial regrets later, these small, practical steps can make a big difference over time:
And if you’re feeling behind already, you’re not. d’Cruz shares a few words of encouragement, “You’re not alone. There is support out there and it’s never too late to get back on track or to start saving,” she assures.
But if you can start earlier, before regret enters the picture, you give yourself something even better than a do-over: a head start.
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