6 Ways to Recover from Your Money Mistakes

15930134_sLet’s face it, everyone can make money mistakes like overspending on our budget. But, not to worry, here are six steps to help you to recover from your money mistakes.

  1. Come clean

It’s tough to admit that you’ve made an error, but you can’t learn from mistakes that you do not admit that you made. We all make mistakes, but we must see our mistakes as opportunities we can learn from.

  1. Find out what went wrong

Oftentimes, money mistakes are made when you don’t look closely at why you made the error. When you take on too much debt to pay for a lifestyle that your paychecks can’t cover, or you shop to make yourself feel better. Whatever the reason for the money mistake, know the cause so you can prevent it from happening again.

  1. Don’t blame yourself

Take responsibility for your actions, but don’t go into the blame game. Don’t allow a bad choice to define you as a person. Avoid negative self-talk because it will keep you in a negative cycle that can lead to even more bad choices.

  1. Look ahead

Taking responsibility for a money mistake means moving forward by making a plan with steps to reach your goals. You have to start working toward your goals so that you don’t live in the past. Look forward not backward.

  1. Start today

The best way to overcome a past mistake is to take one small step towards fixing it immediately. You can choose from a range of options to pay down debt, like cancelling a subscription or making a small payment on your credit card or on an outstanding loan. Whatever it is, keep repeating these small changes, since they can result in big changes overall!

  1. Accept who you are

Once you can accept the attitudes and behavior that led you to make the money mistake, you can start working on changing them. Your future financial health will always reflect more on how you recover from mistakes than the mistakes themselves. Keep moving forward.

Navigation
Google+ Twitter Facebook

Niiwin, LLC is a commercial enterprise and instrumentality of the Lac du Flambeau Band of Lake Superior Chippewa Indians, a federally-recognized sovereign Indian nation (the “Tribe”) and operates within the interior boundaries of the Lac du Flambeau Reservation. Niiwin, LLC is chartered under and operates pursuant to Tribal Law. Loans from Lendgreen are governed by the laws of the Tribe, not the law of your resident state.

This is an expensive form of borrowing. Lendgreen loans are designed to assist you in meeting your short term borrowing needs and are not intended to be a long term financial solution. The Annual Percentage Rate (APR) applied to your loan will vary depending on the pay period. The maximum APR on any Lendgreen loan is 795%. Before borrowing, please consider whether you will be able to repay the amount you borrow. Any instances of late or no-payment may be subject to additional NSF and late fees, and collection activities. Cash advance services through this website are not available in all states and state availability may change from time to time without notice. Lendgreen does not lend to residents of AR, GA, MD, MN, NY, PA, VA, WV, WI, or to members of the military.

Lendgreen does not perform credit checks through the three main credit bureaus (Experian, Equifax, TransUnion). A credit check or a request for your credit report may be executed in some circumstances to determine loan approval status through an alternative provider including but not limited to, Clarity, DataX and Factor Trust. These alternative providers will typically not affect your credit scores.

OLA Badge