It IS Your Fault
None of us like to hear that something is our fault. And that’s perfectly natural. We don’t want to be the cause of something bad, and we don’t want to mess up. If fault has to be assigned, we’d prefer it be assigned elsewhere.
Sometimes though, admitting that it IS our fault can be a very positive thing — especially when it comes to our money.
You see, while it seems to be a part of human nature to rationalize the way things worked out, looking at situations objectively instead to figure out where we went wrong is a good idea. It allows us the opportunity to improve next time, and that can set us on a great financial path.
Now I’m not suggesting that you beat yourself up over past mistakes. What I’m suggesting is that you take responsibility for past mistakes, figure out what you could do differently next time (or even right now), and then change your financial future.
Take getting into debt, for example. I was one of those people who opened a credit card “for emergencies only”. Except there were a whole lot of emergencies — emergencies that looked like plane tickets, car repairs, gas, and fast food. At the time, I really did believe that the plane tickets and car repairs were emergencies. And I lamented my debt and how I would be in a much better place if only I hadn’t had those emergencies. It wasn’t my fault. Or so I thought.
The truth was, I would have been in a much better place if I:
- Hadn’t gotten the credit card in the first place
- Had built an emergency fund
- Had said no to stupid crap that I didn’t need
- Had said no to things I wanted to do but couldn’t afford
- And hadn’t been living above my means
While it wasn’t my fault that my car needed a brake job, it was my fault that I hadn’t figured out that ALL cars are mechanical things that WILL need repairs and maintenance — and then saved up accordingly. It was my fault that I was doing all those other things. And it was my fault that I signed up for a credit card.
Realizing that my situation was of my own making was the first step to improving it.