Failing to stick to your budget doesn’t have to be a bad thing. It’s just something that happens.
I know this can be hard to remember in the midst of a failure, but… Just because you’ve failed before, doesn’t mean you won’t succeed in the future.
Yes, we all know this, but when we fail at anything, that evil little voice in our head starts saying things like “You suck. You’ll never be able to do this.” You’re so stupid. Why did you even bother trying.”
That’s why every failure feels so much worse than it actually is.
But failure can sometimes be a good thing, because it can help lead you to success.
Most successful people have failed, probably more times than you have, before they eventually succeeded at whatever it is they’re successful at now.
Have you ever heard the famous Thomas Edison quote, “I haven’t failed. I’ve just found 10,000 ways that won’t work.”?
Now, I don’t know if that quote is real or accurate, but essentially it's true. I think it’s safe to assume that Edison didn’t just wake up one day and invent the light bulb on his first try.
But do you really care how many times he failed before he did? I don’t. He freakin’ invented the light bulb! And he never would have invented it if he hadn’t tried all those other ways that failed and kept trying.
And that's the number one key to failing successfully: Never give up.
But never giving up alone won’t automatically lead you to success.
So here’s all 4 tips to turn a budget failure into a future success:
Forgive yourself when you fail. Beating yourself up over every failure doesn’t help you move forward. No one is perfect, especially when it comes to budgeting.
Never give up. This goal is too important to give up on, so you have to keep trying, keep learning and keep growing. Getting control of your money and your spending gives you the freedom to live the life you want. It’s a goal worth working on.
Figure out why you failed, so you can learn from it. You can’t succeed at this goal unless you figure out what isn’t working.
Try something different next time. A lot of budgeting is mental. There are plenty of strategies you can try to keep yourself motivated or even trick yourself into spending less.
You might even learn over time that you will always fail at budgeting, and that’s ok. This is true about me, but I still never give up. I’ve learned ways to plan for failure in a way that still allows me to succeed. If you want to know more on this, keep reading to the end.
I’ve spent more than a decade failing at budgeting and paying off my debt. But I always followed the 4 tips above, and now I’m in such a better place financially because of it.
When it comes to budgeting, there are degrees of failure or success. Maybe you didn’t stick to your budget 100% this month, but did you get closer than you did last month? That’s progress and incremental success. That’s the goal - to keep making progress.
Over the past 10 years, I’ve had a mix of failures and successes, but the overall trend is that I’ve been getting better over time at managing my spending and sticking to a budget.
Now I’m writing a guide to help you learn what I learned the hard way. It’ll help you create a simple budget and actually stick to it so you can achieve not only your money goals but your life goals too. Because when money isn’t a problem anymore, suddenly you have freedom.
If you’re ready to start moving forward from your past budgeting and money failures, enter your name and email below to be the first to know when the guide is ready.