How to Start Learning from Your Money Mistakes

It doesn’t really matter what type of mistake you make in life – there is always a lesson to learn from the mistake. The trick is understanding that there is a lesson, finding the lesson, learning it, and figuring out what can be done differently in the future.

Realize You Made a Mistake

Before you can fix anything, you must name it and claim it. Accept the mistake, know that you made it, and be open about that and honest about that with yourself and others. Making mistakes doesn’t make you weak. Imagine if Thomas Edison had given up after every single mistake. No, instead, realize you made the mistake. That’s the first step to learning from it.

Identify the Cause of the Mistake

When you examine the mistake, it’s easy to step back and see the overview of it, but the best way to not make the mistake again is to examine the mistake to the point where you know the exact moment in time that your thoughts sent you to the wrong decision. If you can find that...

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