• Bob Brooks

Eliminating Financial Regret

As a financial adviser and radio show host, I have heard my fair share of stories. Unfortunately, most of those stories are more often about regret. After a financial decision, guilt consumed them. For example, regretful thoughts to be more financially responsible by saving more money, not accumulating so much debt, paying more attention to spending habits, and being a better steward over God’s financial blessings tethered their minds.

When you are viewing life through the lens of regret, a few things happen to you. First, you become so focused on the regretful outcome rather than the desired outcome you anticipated. Second, your remorse becomes more prominent and begins to consume your interest. Then, it creates a vicious cycle of financial regret, which seems challenging to manage. However, the good news is that financial regret is a choice, and you can choose a different path. Try these suggestions and eliminate financial regret for good.

First, although it is easy to think that you are the only one who has made bad decisions, you are not alone at all. Everyone at one time or another has made financial decisions that did not serve them well. It is not about the decision but how you respond to that decision.

Second, it is time to let go of the past. We tend to hold on to regrets because they oddly serve us as an odd comfort zone. It is almost as if we feel safer staying in the zone of regret than taking a risk to make new decisions.

Third, what did you learn from the decisions that did not serve you well? That is the value of decisions that did not support you. Even though most financial regret has a degree of financial loss associated with it, financial regret also has a valuable aspect to it - lessons and experience.

Fourth, the past can only serve us based on what we learned from the experience. The most crucial aspect of your decision is in the present moment. We always have the present to make a new decision- it is God's gift to you!