How To Deal With Financial Mistakes or Regrets

When these mistakes involve our finances, we have more than the psychological losses to worry about. Financial mistakes can pull down so many other aspects of our lives.

We all make mistakes. However, while we can get over certain mistakes with ease, others linger in our hearts and end up affecting other areas of our lives. We can make mistakes with the things we say, how we interact with people, or even in making decisions that affect our lives.

But when these mistakes involve our finances, we have more than the psychological losses to worry about. Financial mistakes can pull down so many other aspects of our lives.

It might get us broke, in debt, and might affect other members of our family at one stretch! Worse off, if the financial mistake was tied to an investment gone bad, it is only natural to be put off the investing game altogether.

If you have made financial mistakes in time past or you have financial regrets, here are some methods to help you get over it fast.

Stop The Blame Game

There’s really no way to let go of the hurt if you are still busy blaming other people for the mistake. You might have been introduced to an investment by a friend who failed to explain to you that it was a Ponzi scheme that was capable of failing. Rather than blaming your friend for the mistake, own it.

You were the one who failed to ask the right questions and you were the one who didn’t carry out proper due diligence. Of course, this doesn’t mean you should blame yourself instead. It means you have accepted that the mistake was yours. When you own it, you can move past it.

Forgive Yourself Or The Parties Involved

This part is really important because if you don’t forgive yourself, the issue will always come up as an issue whenever a similar situation comes up. Did you win a lottery and spend it unproductively?

Did you invest in something that went sour? Did you lose friends over something financially related? Understand that even if it was a week ago it happened, you are a better more experienced person now.

It might take a while for you to forget, but you need to understand that you didn’t know any better. If you did, you will have taken a better approach.

Learn From It

A great way to speed up the process of forgiving yourself is to learn from past mistakes. Every single day of our lives, there are new lessons to be learnt. Isn’t it awesome that because of this mistake, you now know better than many other people?

Better it happened when it did than much later when the stakes might just be higher right? Take time to learn your lessons and use those lessons as stepping stones to your success stories.

Believe

Believe! Believe in the possibilities! Hang on to the hope that more financial successes are coming. Take a look at the basket of investment opportunities available to you that will make you forget about any loss you have incurred.

It is only when you have a spark of hope and can believe in the financial journey ahead that you will take steps to achieve them, moving closer to your dreams, one good financial decision at a time.

Written by Lawretta Egba.