Act 341

Learn from your own mistakes

I’ve written about learning from the mistakes of others but haven’t reallly addressed learning from my own mistakes.

I made a minor one today. Tried to make a curry soup with some roasted peppers. The peppers were burnt, the soup was terrible unless you like soup that tastes likes smalls shreds of burnt rubber that is. Yuck. It’s down the drain for that effort.

I’ve learned from other mistakes too. I should not have trusted that my credit union’s advice was best for me. It wasn’t. I should not have thought that I needed mortgage insurance when I also had life insurance. I didn’t. I should not have assumed my credit report was accurate. It wasn’t.

I should not have assumed that building a successful-ish business over 15 years meant I would be bankable when I needed a business loan. It isn’t.

And I’m still learning. That’s the joy I’ve found in this blog. I can learn. I can improve. I can make it better. It’s working. Slowly. But it’s working.

So make mistakes. It’s okay as long as you learn from them. It really is.

Act 308

Learn from other people’s mistakes

We watched Gail Vaz Oxlade’s Money Moron last night. Man, she’s good at what she does. It helps to see what others are going through and it eases the discussion about money in your own household. That perspective helps and watching others (who are brave enough to do it on TV) change their relationship with money gives me confidence that we can do it too. As for us, we’re turning a corner. Or at least I have in my sights the corner that we will turn. But we’re not there yet. Today I joked with the kids that I was tired of not having any money. They agreed. Then I corrected myself to say, we have money, we just don’t have much extra. I have to be careful with my words and my thoughts. I’m too far in now to give up yet.

Act 81

The worst mistakes are the ones you don’t know about yet.

Once you know about the mistake, you can fix it, mitigate it, accommodate for it and maybe even overcome it.

Turns out, my worst mistake started over a decade over. Today, I figured out what it was. So I’m better off today than I was yesterday. Even if the realization came with quite a slap to the face.

And I’ll blog more about the mistake soon. Despite not having any real money to speak off, I suddenly understand the need to share more than ever.

I’m not the only one this has happened to. And I won’t be the last one this has happened to. And if you’ve had or made mistakes neither are you. So I’ll use what I have and share what I know and maybe, together, we can help someone else from making the same mistakes.