{"id":28802,"date":"2017-01-21T07:30:10","date_gmt":"2017-01-21T12:30:10","guid":{"rendered":"http:\/\/canadianbudgetbinder.com\/?p=28802"},"modified":"2025-01-18T07:07:09","modified_gmt":"2025-01-18T07:07:09","slug":"financial-success-money-sins","status":"publish","type":"post","link":"https:\/\/digitalskyweb.co\/canadianbudgetbinder.com\/2017\/01\/21\/financial-success-money-sins\/","title":{"rendered":"Money Sins: How To Recover And Get Back On Track"},"content":{"rendered":"\n

<\/span>Estimated reading time: <\/span>14<\/span> minutes<\/span><\/p>\n\n\n\n

Are you committing money sins? Find out how to overcome financial setbacks and create a debt-free future for a comfortable retirement.<\/p>\n\n\n\n

Start To Climb The Ladder By Leaving The Past Alone<\/h2>\n\n\n\n

Are you a good person who fell off the financial train but wants to finish what you started before being side-tracked? <\/p>\n\n\n\n

No one sets out wanting to create debt that could carry them into retirement if not paid back promptly.<\/p>\n\n\n\n

Many retire today with debt because they couldn’t keep up with expenses vs. income or were spending too much money and didn’t adjust their lifestyle accordingly. <\/p>\n\n\n\n

It’s far easier to create the life we want, even with money we don’t have, rather than putting the wheels into motion so it becomes reality.<\/p>\n\n\n\n

Related:<\/strong> A Beginner Guide To Early Retirement<\/a><\/p>\n\n\n\n

I bumped into our neighbor the other day and asked her how she was doing and if her daughter was still living with her. <\/p>\n\n\n\n

She smirked and said yes, she is still living with her but planning to move into an apartment by the end of May. <\/p>\n\n\n\n

That’s excellent news, to which she replied, “She’s come a long way, and now that her financial situation has improved.”<\/p>\n\n\n\n

I’m known as the go-to guy when someone has a problem in my circle of friends and colleagues. <\/p>\n\n\n\n

Sometimes, that can be a good thing, and other times, it’s downright exhausting, especially when it concerns money. <\/p>\n\n\n\n

Thankfully, the weather wasn’t freezing, and I struck conversation gold. <\/p>\n\n\n\n

To you, that might mean nothing, but it means I’m getting a glimpse into someone’s financial life.<\/p>\n\n\n\n

I often find it fascinating to hear how people manage their finances.<\/p>\n\n\n\n

She explained to me that her daughter was always talking about how she would own a clothing empire.<\/p>\n\n\n\n

It was her big dream, and it’s certainly not impossible, as some of the best designers start from home. <\/p>\n\n\n\n

She was motivated, intelligent, and pretty, and she knew what she wanted to do with her life. <\/p>\n\n\n\n

She loved clothes, made some of her own, and gave them to her friends as gifts.<\/p>\n\n\n\n

Over the years, she started to hang out with the wrong friends, and her dream of becoming a successful business owner was put on the back burner. <\/p>\n\n\n\n

This was followed by bills that she couldn’t afford.<\/p>\n\n\n\n

That’s the price for running with the rich when you’re not even near that status. <\/p>\n\n\n\n

It was easier for her to pretend she had life figured out and was earning the money until she was found to be nothing more than a wanna-be.<\/p>\n\n\n\n

How on earth would she be able to start a business when she had no money for start-up or back-up?<\/p>\n\n\n\n

That wouldn’t happen until she paid off her debt, saved money, and had a viable business plan. <\/p>\n\n\n\n

Her mother told me that she has finally come around, and instead of constantly complaining about the financial mess in her life that she was burying her money sins. <\/p>\n\n\n\n

Over the past year, her daughter started budgeting, has paid off almost all of her debt, and has started knitting and sewing again.<\/p>\n\n\n\n

She’s sold some of her hand-made items to friends and is now considering a start-up website and broadening her presence in social media. <\/p>\n\n\n\n

Building her portfolio and expanding her knowledge of what consumers want means she’s putting her extrovert personality to good use. <\/p>\n\n\n\n

Her goal is to eventually open a small shop that sells custom hand-made clothing and outer-wear accessories such as hats, gloves, scarves, etc.<\/p>\n\n\n\n

Not every story has a happy ending or happy beginning like this one, but there was one thing she did that many people in her position don’t: she didn’t give up. <\/strong> <\/p>\n\n\n\n

Even if she had to live with her mom for a few years to pay off her debt so she could start over.<\/p>\n\n\n\n

Some people don’t have this opportunity and are further faced with seeking alternate solutions. <\/p>\n\n\n\n

Besides, most kids that go away for school end up back at home into their late 20s and early 30s because of consumer and school debt paired with the high living expenses.<\/p>\n\n\n\n

We’re one of the youngest couples on our street, which automatically means we must have a mortgage and debt, right? <\/p>\n\n\n\n

Wrong. Oh, how money and motivation can work wonders.<\/p>\n\n\n\n

Related:<\/strong> How we became mortgage-free in 5 years<\/a><\/p>\n\n\n\n

Forgive Your Money Sins<\/span><\/h2>\n\n\n\n

What happened if you’ve ever been in a relationship that fell apart, and you were devastated for months or even years, and then eventually you moved on? <\/p>\n\n\n\n

Life happens, especially when you find a new focus. You’re now in a healthy, happy relationship, and look back and wonder why you were so miserable on earth. <\/p>\n\n\n\n

Both debt and relationship breakdowns take time to heal. <\/p>\n\n\n\n

If you dwell on your past situation, you won’t move forward, and you won’t meet the financial love of your life, success.<\/p>\n\n\n\n

Money sins are struggles that follow us from when we spend money until we pay the bill, even if it is paid in cash. <\/p>\n\n\n\n

Sometimes, bills go unpaid because there is no money. <\/p>\n\n\n\n

Your bank account is wiped clean, the cupboards are empty, and your friends want you to go out with them for a night on the town. <\/p>\n\n\n\n

It sounds like a miserable life, and it can be if that’s not what makes you happy.<\/p>\n\n\n\n

It’s hard for anyone to cope with a financial situation in which they don’t see a cheerful ending.<\/p>\n\n\n\n

Being faced with a hefty bill. And little to nothing to show for it. I’d be unhappy too <\/p>\n\n\n\n

The problem is that someone has to. e responsible for irresponsible money sins or inherited ones.<\/p>\n\n\n\n

Naturally, for many people, their last resort is initiating a ban or bankruptcy in hopes of wiping the slate clean, but even then, money sins follow you for years to come, <\/p>\n\n\n\n

Bankruptcy isn’t the easy way out. It’s the only way out for some people. <\/p>\n\n\n\n

It’s before they end up on the streets with nothing, so they jump on it.<\/p>\n\n\n\n

Don’t Let Money Sins Hold Back Success<\/h2>\n\n\n\n

One of the worst things that can happen is having met up with someone you used to be good friends with growing up or with whom you went to school, only to hear that they are highly successful.<\/p>\n\n\n\n

This doesn’t necessarily mean they are rich; it simply means they are happy and have their finances under control.<\/p>\n\n\n\n

Related: <\/strong>Not having one of the best-paying jobs is embarrassing<\/a><\/p>\n\n\n\n

Being financially successful means you are happy with your financial situation, and you accept what you can and cannot afford. <\/p>\n\n\n\n

No matter what your success code looks like, if you aren’t confident in the efforts you are putting in, then complaining about it is just wasting time and energy.<\/p>\n\n\n\n

The Damage Is Already Done<\/span><\/h2>\n\n\n\n

There’s no point crying over what has already happened because you can do nothing to change the situation apart from making it better. <\/p>\n\n\n\n

What some people fail to see is that negative words won’t do a darn thing except make you weaker, <\/p>\n\n\n\n

Eventually, you might believe that you’re worthless and won’t amount to anything, and you continue to be a drain on your system. <\/p>\n\n\n\n

Depression is natural, and getting help from your doctor is your first step toward recovery.<\/p>\n\n\n\n

Imagine someone constantly told they are useless all of their life by someone they care about. <\/p>\n\n\n\n

They either believe they are worthless and do nothing with their life, or they fight back, say, I’m worth more, and fight success to the top. <\/p>\n\n\n\n

That’s what motivation is and what people either lack or fear. Don’t let anyone or anything stand in your way, and look after your mental health.<\/p>\n\n\n\n

Too often, we quickly judge people who have money sins in their closet because we believe they could have controlled the outcome. <\/p>\n\n\n\n

Most people smothered in debt likely could have made better financial decisions, but sometimes, the risks we take with our were worth it at the time.<\/p>\n\n\n\n

Our friends are still living with their parents because of a failed business attempt before they started a family. <\/p>\n\n\n\n

Now, they are working their way out of debt to eventually buy a house and move out.<\/p>\n\n\n\n

Are they proud? <\/p>\n\n\n\n

No, BUT they’re doing something about it.<\/p>\n\n\n\n

Avoid Negativity<\/h2>\n\n\n\n

Easier said than done, I know. <\/p>\n\n\n\n

That’s like telling yourself not to eat the chocolate bar when it’s already unwrapped in your hands. <\/p>\n\n\n\n

Instead of saying I want the chocolate bar, but I need to lose weight and don’t deserve this, tell yourself that once I reach my first goal, I’ll reward myself with chocolate.<\/p>\n\n\n\n

You see the difference between thinking positively, acting cheerful, and rewarding positive behavior when you reach a goal. <\/p>\n\n\n\n

Money sins may follow you forever in your mind, but they don’t have to control your every move.<\/p>\n\n\n\n

Remember that happy words promote good feelings, and sad words promote sad feelings.<\/p>\n\n\n\n

If you get up in the morning and tell yourself today is a happy day, you’ll accept nothing less. <\/p>\n\n\n\n

We need to limit getting fired up about the small stuff so we can focus on the big stuff.<\/p>\n\n\n\n

    \n
  1. Document your money sins so you know exactly where you went wrong and what you could have done differently so you don’t make the same mistakes again.<\/li>\n\n\n\n
  2. Stop negative behavior by achieving small gains and rewarding them.<\/li>\n\n\n\n
  3. Stay motivated by hanging out with similar friends and engaging in mindful relaxation.<\/li>\n\n\n\n
  4. Come up with a debt repayment plan<\/li>\n\n\n\n
  5. Pay back your debt and create success in your future<\/li>\n<\/ol>\n\n\n\n

    The bottom line is that no matter how you view financial success, you must take responsibility for happiness. Bury your money sins by taking the grip of the shovel and starting digging.<\/p>\n\n\n\n

    Discussion Question (s):<\/strong> How have previous money sins affected your day-to-day life? What have you done to get out of debt?<\/p>\n\n\n\n

    CBB In Review<\/h2>\n\n\n\n

    I’m sick, end of story.<\/p>\n\n\n\n

    My week started great until I went to work and started to feel something in my throat tingle.<\/p>\n\n\n\n

    Sure enough, what everyone else has got, I’ve got too. <\/p>\n\n\n\n

    The body pains are starting to kick in, and I’m sure I’ll be home on the couch doing some remote work as I can’t go to work ill. <\/p>\n\n\n\n

    Isn’t it ironic that just last week I wrote a post about losing income when you are sick from work <\/a>and don’t receive sick pay Now I’m sick.<\/p>\n\n\n\n

    This coming week will be doctor’s appointments and lots of homemade soup to help bring me back to smiling again. <\/p>\n\n\n\n

    We also splurged on our little guy and bought him a Little Tikes Trampoline to help burn off energy during the winter months. <\/p>\n\n\n\n

    He loves it! <\/p>\n\n\n\n

    The money we use to pay for the trampoline is cash we made by purging and selling toys he no longer uses. <\/p>\n\n\n\n

    He’s not too happy about it, but as he gets older, I’m sure he’ll come to understand the benefits of financial security.<\/p>\n\n\n\n

    Parenting advice needed<\/h3>\n\n\n\n

    I was going to reach out to all of you to see if you have any recommendations for online programs or apps that would appeal to advanced-learning toddlers <\/p>\n\n\n\n

    Our son is so bored with numbers, the alphabet, and colors and needs to move on to something more challenging. <\/p>\n\n\n\n

    Also, if you are a stay-at-home parent, did you put your child in pre-school before they started junior kindergarten? <\/p>\n\n\n\n

    If yes, how did that turn out for your child? Please share your comments below.<\/p>\n\n\n\n

    Oh, and by the way, I’m finally going home this year. <\/p>\n\n\n\n

    That’s my big news: The plane has been booked, and I can’t wait to see my family again and for them to meet our son.<\/p>\n\n\n\n

    I’ll update you all more as the month draws near.<\/p>\n\n\n\n

    Mr.CBB<\/p>\n\n\n\n

    CBB Published Posts<\/span><\/h2>\n\n\n\n

    Top Post This Week: <\/strong>11 Habits To Help You Budget Better in The New Year <\/a><\/p>\n\n\n\n