financial mistakes


Have you made financial mistakes in the past? Are you currently making financial mistakes? Will you probably make financial mistakes in the future? Yes?! Well, so did Donald Trump, Suze Orman, and ME! Yes… me. 🙂

Many of you are unable to move forward financially, not because you don’t make enough money, not because you don’t have the resources, and not because your situation is un-repairable. The truth is, you have yet to get over your financial mistakes, if you want to move onto greener pastures (pun intended).

Financial forgiveness is one of the first keys to becoming financially healthy. There are 5 steps that I use and have used, to financially forgive myself. In my book, The One Week Budget, I reveal how I lost my job, squandered $20,000 on one BAD investment, and gained $35,000 in credit card debt, all in a relatively short period of time. It took me years to let go and forgive myself, but once I did, I was able to quickly put a plan in place, and successfully implement it faster than I thought possible!

The 5 steps to get over your mistakes via financial forgiveness are:

1)      Admit

2)      Identify

3)      Tell

4)      Focus

5)      Plan



1)      Admit to yourself & take ownership:

Confess; say “I messed up when I __________”. Feel free to substitute the word “messed” with your verb of choice. I found that by admitting my mistake, I was able to take ownership of it. The good thing about owning up to a problem is that it officially becomes YOUR problem, and gives you the power to fix it. One of the reasons you haven’t been able to move forward, is that you haven’t fully acknowledged your mistake, until now…Remember, you’ve messed up, I’ve messed up, we’ve all messed up, that’s all. Mistakes happen and admitting it to yourself is essential if you’re going to get over it.



2)      Identify the what & why (be very specific):

Take a break from beating yourself up for a minute and clearly identify your mistake and why you made it. Sometimes we get so caught up in feeling guilty, that we’re not even clear what we’re feeling guilty about. I suggest you write down your money mistake(s). For example: (what) I Tiffany The Budgetnista, took out a $20,000 cash advance on a credit card, (why) to use to “invest” with a “friend” of mine, because (1) I wanted to help my parents out financially, (2) I didn’t understand the principles of investing… Yup! See the bonus chapter of my book, Debt and Credit: My Story, for the gory details.



3)      Tell someone you trust

Okay, so this may be a tough one for some of you, but tell a trusted confidant. It took me a year to finally break down and tell one of my best friends how I’d lost $35,000 in less than 2 weeks. Do you know what my friend Linda said when I told her? “Awwww, that’s ok Tiff! We all make mistakes.” She was so kind, and to my surprise, a bit nonchalant about the whole thing. I’d been carrying around my secret shame for a year, thinking that everyone would be horrified that “The Budgetnista”, had made such a catastrophic mistake (or at least that’s what I told myself).

There’s a proverb that says, “Fear makes the wolf bigger than he is”. Linda helped me to realize that although I’d made a mistake, just like May 21, it wasn’t the end of the world (come on, I had to do at least one rapture joke). I suggest that you find your own Linda, and start confessing in…

Woooo Saaahhh! Now that you’ve admitted your mistake, identified it in writing, and told a friend, it’s time to prepare to release it. The next two steps will help you to completely move past your financial flub.



4)      Focus on a solution:

So the truth is out, and it’s time that you focus on what IS, verses on what ISN’T. Refer back to what you wrote in Step Two and write down some possible remedies to your mistake. Don’t make yourself crazy with this step; let the ideas flow without hesitation. Remember, you’re not solving the world’s hunger issue, you’re just quickly writing down possible solutions to your financial problem. FYI, don’t wait to do this exercise, start now.



5)      Plan, then work the plan

Once you’ve drafted your list of possible solutions, pick one and begin crafting a plan. Not sure how to start or what to do? Google is your Guru. Remember that any financial problem that you’ve ever had, or ever will have, is not unique to you. Someone “out there”, somewhere, has made a similar mistake, solved it and shared it with the world.  The road to fixing your money mistake maybe only a click away, so Google your problem with pen and paper in hand. Choose a solution that speaks to you, research it’s effectiveness (use Google again), and get started! I created a free financial resource to help as well, the LIVE RICHER Challenge.

The LIVE RICHER Challenge (2015), is a FREE, online financial challenge created by The Budgetnista to help women achieve 7-specific financial goals in 36 days.
Each day during the LIVE RICHER Challenge you will receive a daily task via email for a period of 36 days (5 weeks). Each simple task will help you to accomplish a weekly goal.
Learn more and sign-up HERE ——>

The road to financial freedom begins with financial forgiveness. Let go, move forward, grow wealth.


The Budgetnista