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4 Ways To Turn Financial Failure Around

By Staff Curator / May 22, 2017
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Are you working to change your financial future?

by Don (mydollarplan.com) – Have you recently failed with your finances? Maybe you got yourself into credit card debt or you took out a loan on a new car and no longer want the car.

Whatever your specific case may be, don’t let this one financial failure, or any previous financial failure, determine your financial future.

You can overcome financial failure.

4 Steps To Overcoming Failure With Your Finances

I will walk you through the four steps you need to follow in order to overcome your failure and ensure that you never repeat the mistake again.

#1 – Admit to Your Failure
The first thing you have to do is to admit to the failure. Without doing this, you will never overcome it. It might be hard to admit to the failure but you have to do it.

The failure will not define you unless you allow it to. The first step in allowing failure to define you is to be scared of it and not take ownership of it.

No matter how tough it is to admit, you must do it.Trust me, I know that it is hard to admit. When I was in credit card debt, I had to admit that I was depressed. That was probably the hardest thing I ever did.

But here I am 10 years later and I am on a solid path to financial freedom. Had I not admitted my issue, I would probably still be stuck in the financial mess I was back then.

#2 – Determine Where Things Went Wrong
Once you admit that things went wrong, you need to understand where they went wrong. What caused you to overspend or end up failing with your finances?

This will take some time to get to the root cause. In some cases, you might think it was one thing when in reality it was something entirely different.For me, I went wrong when I gave up on my job search.

I graduated college in 2001 during a recession. It was tough to find a job. After a few months with no leads, I felt sorry for myself and started to spend money I didn’t have.

Looking back, I should have kept my head down and continued to look for a job.

We're hiring#3 – Accept the Failure
Once you admit you failed and you know where things went wrong, it is time to forgive yourself. You made a mistake. We all do. We are all human after all. Even some of the wealthiest people have done some…

 

Read the complete article here.

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