Bouncing Back From Financial Ruin: How to Forgive Yourself

One thing that most people don’t talk about is the guilt you carry when you make financial mistakes. It can be pretty bad for minor things but worse for significant financial ruin. In case you were wondering, yes, getting fired counts as a financial mistake.

Today, we’re digging a little deeper and rooting out something that impairs people from achieving full recovery: guilt.

Experts have found that even if someone manages to get out of debt, a lingering feeling of guilt can be dangerous. Emotions play every bit of an importance to full financial recovery. As we’re wholly committed to helping our readers triumph past ruin, we’ll be looking at how you can learn to forgive yourself.

Accept your mistake

It is said that the first step at dealing with any problem is to accept that there IS a problem. People who are not able to do this often find themselves back in the pit of financial mistakes. A great way to ease the process of acceptance is to talk to people who you know can understand you.

Express your regrets out loud instead of just holding them in. The simple act of vocalizing your guilt is a great way to get rid of it. Shouldering the responsibility of a financial mistake can be tough but you can persist as long as you start off with the right foot.

Understand what you did right

There is a great difference in acknowledging that you made a mistake and fully comprehending it. What led to such a mistake and what was done immediately afterwards will need to be reviewed. You need to identify what you did right as well.

This particular step can be daunting to most. It takes a different kind of strength to be able to look back on something that’s deemed shameful and find some good in it. Realizing that even in the worst of situations that you were able to do wise decisions is a good boost for future pitfalls.

Avoid being overly critical of yourself

It can be easy to be quite critical of yourself. This is particularly true when thinking of actions that led to significant difficulty. It’s easy to set a comparison between your own mistakes and the seemingly blessed life of others. At that point in time, it is important to remind yourself that you know all the details of your own struggle but not the struggles of others.

Being overly critical of yourself can severely impair your ability to forgive yourself.

Parlay your guilt into personal growth

Regret can certainly take a toll in your psychological growth. However, this is a good chance to use this as a clear motivation to avoid future mistakes. It is a good jumping point into laying down practical choices for future financial decisions.

Considering the tips listed above can help do away with guilt for making big financial mistakes. Guilt is a heavy burden. Choosing to let go of the guilt you bear will serve you well.