Explain This Framework: Regret Minimisation for Beginners

You keep hearing about regret minimisation for big decisions and nodding along without really knowing how to use it. This explains it from scratch, no decision-theory jargon: the problem it solves, where it came from, a step-by-step guide you can follow today, and a worked example like changing careers or moving cities. By the end you could actually apply it.

I keep hearing about the regret minimisation framework for making big life decisions but I am not sure how to use it in practice. Explain it to me in plain language as if I have no background in decision theory. Include: what problem it solves, where it comes from, a step-by-step guide I can follow right now, and a worked example using a realistic life scenario such as whether to change careers or move cities. After the explanation, give me three questions I can ask myself to apply the framework to any decision I face today.