Understand your financial history from "summary" of The Dumb Things Smart People Do with Their Money by Jill Schlesinger
To get a handle on your finances, you need to take a deep dive into your financial history. This means understanding your past money decisions and how they have shaped your current financial situation. Your financial history is like a roadmap that can help you understand where you stand today and where you want to go in the future. Start by looking at your past spending habits and financial choices. Are there any patterns that emerge? Do you tend to overspend on certain things? Do you have a habit of taking on too much debt? By examining your past behavior, you can start to identify areas where you may need to make changes.
Next, take a look at your financial goals and how they have evolved over time. Have you been saving enough for retirement? Are you on track to meet your financial goals? Understanding how your goals have changed can help you make more informed decisions about your finances moving forward.
It's also important to take a close look at your financial setbacks and mistakes. Have you made any poor investments or taken on too much risk? By learning from your past mistakes, you can avoid making the same errors in the future.
By understanding your financial history, you can gain valuable insights into your financial behavior and make more informed decisions about your money. So take the time to review your past financial decisions and use that knowledge to create a more secure financial future.
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