We often hear the word “forgiveness”, but hardly do we hear it used in relation to oneself. Just as we have the tendency to feel hurt or angry about a wrong that has been done to us, so can we feel the same about mistakes we have made, but with guilt added to the combo. Just about everyone has made or will make financial mistakes at some point, and sometimes they could be exceedingly costly mistakes which can be hard to get over.

The deeper you bury yourself in regret, the harder it will be to crawl out

Before we talk about forgiving yourself, we must talk about regret. Though it is considered a negative emotional/cognitive state, it is possible for regret to be a helpful emotion. Regret may stir one to refocus and correct their mistake or take an entirely new direction, but when the situation cannot be easily rectified, regret may result in chronic stress that is damaging to the mind and body.

If you let it, regret can keep you bound in a state where you’re moving neither forward nor backward, and in some cases, the delay may be costing you even more, posing true danger to your financial health.

The not-so-simple solution: forgiveness

It’s not easy to forgive others and it’s not easy to forgive yourself, but it must be done. Forgiveness is the first point of call if you’re looking to enjoy financial profitability. When you are able to forgive yourself, you reap the many benefits that come with it, such as physical, emotional, and mental well-being, all of which have a role to play in making financial decisions, particularly your emotions and your mental faculties.

Blaming yourself for making the wrong decision only sets you back and wastes your time, so try to keep calm and scrutinise your debts one after the other. Have empathy for yourself, admit that people make the silliest mistakes sometimes, and then move forward. The same applies when you blame other people in some capacity or another.

Focus on taking corrective measures

Whatever your financial mistake, try to correct it and if that is impossible, then take preventive measures to ensure you don’t make the same mistake twice. For instance, if you hate your spending habit, one way to go is to take advantage of technology to help you save more. The B app is an excellent tool to start with as it easy to use and has rich features to help you do more.

Continue driving change and building good financial habits

Forgiving yourself for committing ‘financial sin’ is not a one-off engagement. You have to commit to a long-term relationship with forgiveness because you are likely to make even more mistakes in future. Forgiving yourself may not be easy each time but learning to do it can be the difference between a fulfilling financial life and an unfulfilling one, and over time, you’ll make a habit of it.