Kids make mistakes. This is a commonly accepted fact of life. While learning to ride a bike, they fall and scrape a knee. Proudly displaying a flower picked from mom’s prize garden, they rush into the house. Naturally, the trail of mud leads straight across the new, white carpet.
When these things happen, what should parents do? Should they never forget the incident, telling their child to give up and never try again? Of course not! They should never allow their children to be locked into the past by mistakes. Instead, they should encourage them to learn from the mistake and move on.
As an adult, you are faced with a similar question. What will you do about your financial mistakes? Will you carry them with you, refusing to ever move on? Will you give up? Or will you learn to leave the past behind you so you can move on in your life? Remaining trapped in pain and failure accomplishes nothing; you must learn to let go of the past if you are to succeed in your finances in the future.
Obviously, this doesn’t mean you entirely forget your past. Instead, you acknowledge that it happened. It is over. It no longer controls you. Rather than being trapped by it, you are free to chase your dreams and goals.
You cannot improve your financial future without first accepting the past. Learn from it, and move on. The past is for teaching, not for stopping.
Frugal College Student
Editor at My Financial Life Coach, LLC