Money mistakes are all too common. We've all made them, the trouble, however, is that too many of us let our money mistakes keep us stuck and prevent us from making fresh progress with our finances. We get so caught up with being afraid to make another money mistake or end up judging ourselves for past mistakes that it becomes really hard to take that next step.
Do you have a ton of debt and you don't know how or where to begin paying it off? Do you feel like your peers are so much further ahead than you are financially or careerwise? Have you made so many financial mistakes in the past or a recent big money mistake that you feel like you are back at square one?. The thing is, wherever you currently are today with your finances is pretty much what it is - the big question is, what are you going to do you do next?
"Wherever you currently are today with your finances is pretty much what it is - the big question is, what are you going to do you do next?"
Here are 3 steps to help you let go of those money mistakes so you can start making real progress.
Step 1: Acknowledge your mistakes; Forgive yourself
In order to get ahead, you have to forgive yourself for your money mistakes, take the lessons you've learnt and to keep it moving. Yes, mistakes happen and everyone has made a bad decision around their money - even the world's wealthiest people.
It's all about acknowledging where you went wrong and figuring out what to do to make things right and even if you wind up making the same or similar mistake again, you rinse and repeat (acknowledge, learn and implement the lessons) until you get past your error. That is how you will succeed with your finances.
Once you've committed to forgiving yourself and are ready to move forward, it's important to recognize where you are right now with your finances and then determine where you would rather be. This means setting crystal clear, tangible and measurable goals and defining your "WHY" - What is your reason for wanting to be financially successful?
Step 2: Decide it's time to take action towards change
Be willing to change and be committed to seizing the moment to start working on revamping your finances. No more waiting for perfect, start now. It means if you can only save $5 a week right now, save that $5. It means if you can only put $10 towards your debt this week, make that $10 payment and then start figuring out how to reduce your expenses and also earn more so you can ramp up your savings or your debt repayment plans and get back on track with your financial goals.
Step 3: Get motivated, shift your circle of influence
Start reading personal finance and personal development books and blogs. Listen to podcasts, watch videos, surround yourself with people you are going to motivate you to do better and who will motivate you to keep going even when you have those bad days. Make it your mission to shift yourself away from the influences that are of no benefit to your goal of financial success and that are not in line with your WHY.
Yes, it might feel like there is no light at the end of the tunnel, your debts are so large, you are so behind in your career and/or you cannot recover from your mistakes but remember - the only way change happens is by taking the first step and then the next step. You can totally do this.