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Mistakes made: How to get over past problems with your finances

It’s easy to fixate on the idea of being perfect where money is concerned. We can become frustrated with our past spending behaviour, and that poor habit can hold us back from achieving a brighter future for our finances!

In today’s article, we wanted to help with this all too real feeling. With a little mental framing, you’ll find it easier to get over the mistakes you made previously – and you’ll be more motivated to work towards financial freedom and independence. Let’s see what’s on offer.

Forgiveness matters

We all have particular errors stored away in our memories, and it’s common for us to drag them out of our minds whenever we feel bad about our progress! It’s normal, and while not exactly practical, it’s good to know that others do it too.

Knowing this, it’s also great to ditch the habit. Spending is as much a part of financial development as saving, and it’s not an easy subject to get right – especially when you’re younger.

Instead of allowing your past splurges to hold you back, use them to build a better future. Think about the wider picture; is there a specific time of year when you make those big buys, and are you in a certain mood at the time? What made you feel that way? By evaluating these factors that surround the purchase, you can begin to build up an idea of your tendencies – and that’s a valuable tool in becoming a solid saver and practical spender.

Be honest about the future

It’s tempting to go all out on frugality and simply avoid spending as much as you can. You see this very often on saving blogs, and while it’s great to spend time trimming costs, it’s only one aspect of financial maturity – and it can actually hold you back if you do it too much.

What are we saying here? Be reasonable with yourself. You’re going to spend money in the future and some of your decisions will be better than others. Feeling bad about being human is just going to associate negative feelings with money; something that is profoundly bad for your wellbeing and savings both.

So, get over the guilt. Be happy about your foibles, and learn to understand them in a way that isn’t so self-defeating. You’ll feel much, much better for it.

Frame your need to spend

It’s easy to drum up a particular thing you desire where money is concerned. You might wish for a new car or even a house – a simple jacket, even! Instead of denying yourself the luxury of thinking about buying the things you want, switch up how you view your need to save.

You might find it helpful to think about saving for things you don’t know you need yet. Consider how exciting the goals in your life are now; it’s a good bet that more will crop up as time passes, and you’ll likely need money to access those great things that will lie before you.

In this way, you can make saving for intangible goals less abstract and more real. By linking actual emotions of excitement and happiness towards things in your future that aren’t defined, we can help our brains to associate saving strictly with all the best things in life: doing what we want, when we want to, and being happy about it.

Thanks for stopping by!

This is a serious subject, and we hope the Everyday Loans team has helped you to grow in this area with our latest blog. We’re passionate about financial responsibility and maturity; it’s a subject that reaches into many areas of our lives, and it’s a worthy cause to promote.

If you require some financial support for your present fiscal situation, do be sure to stop by at our website main page. We have a great service, if we may say so ourselves!

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Tim Woodley
Financial Content Editor at Everyday Loans
Tim Woodley has been a financial copywriter for over 8 years, using his experience and skill to draw out and discuss interesting financial subjects and learning points that help make life better. https://www.linkedin.com/in/tim-woodley-725267133/