Why I Talk Openly About My Money Mistakes

Discover why this woman doesn't hide her financial problems.

Since I started blogging about my debt-free journey a few months ago, I’ve been interviewed about my story for multiple sites and even a podcast. I’ve talked widely about my journey into debt (and back out of it), and shared my most embarrassing money mistakes — no holds barred, no details left out.

This was not without a great deal of internal conflict. I knew that by sharing all of this, people I knew personally would find out about all the stupid things I had done with my money. I could lose respect. I could lose friends.

Read More: My Credit Card Was a Major Money Leak — Learn How I Stopped Drowning

But, I knew that I needed to be honest about how much debt I was in, and how I got into that much debt. I had to stand up and declare to anyone who cared to read about me that I had failed.

My Failures

Specifically, I had failed to:

  • Make money a priority
  • Make money decisions that positively impacted my future
  • Respect the energy I had put into earning the money that I was spending
  • Be open about who I really am
  • Understand the true nature of consumer debt (also known as “dumb debt”)
  • Pay attention to my financial situation
  • Be critical about my spending in response to advertising
  • Choose hard work over convenience

More on Money Mistakes: 50 Ways You’re Throwing Money Away

A year ago, I felt ashamed of all that. I was worried that setting off on this journey so publicly would mean the loss of respect, pride and friends. But the funny thing about that is, once I accepted my failures, I had a clear path to becoming debt-free — almost a blueprint — and a big chance at turning my situation completely around. Why? Because our failures help us to learn.

My Lessons Learned

Let’s take a look at that list of failures again, but this time, let’s call them lessons. These are my unique lessons, and the exact blueprint for me to get out of debt, and significantly improve my financial situation.

I have learned to:

  • Make money a priority
  • Make money decisions that positively impact my future
  • Respect the energy I had put into earning the money that I was spending
  • Be open about who I really am
  • Understand the true nature of consumer debt
  • Pay attention to my financial situation
  • Be critical about my spending in response to advertising
  • Choose hard work over convenience

Failure helped me learn. My failures were direct feedback from the universe that I could use as lessons to improve my financial situation.

Check Out: 30 Ways to Dig Yourself Out of Debt

Why I’m Talking Openly

So, why did I make the conscious decision to be open about it all? To be relatable and to be an inspiration to others trying to improve their financial situations. Simply put, I want to show others it’s OK to fail. It’s OK to fail because that’s where the lessons are.

The ironic thing is that, while I have lost some friends in this process, I’ve gained the respect of many others because of my honesty. I know now that I’m making conversations about money mistakes easier for others, which is the beginning of becoming smarter with your money.

Read More: Here’s How Much Debt Americans Had in 2017

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