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Learn from your mistakes and use them to improve your financial decisions from "summary" of The Richest Man In Babylon by George S. Clason
The wise man learns from his mistakes. He does not wallow in regret or self-pity, but instead, he reflects on where he went wrong and how he can do better in the future. When it comes to financial decisions, this principle holds true as well. If you make a poor investment or spend money frivolously, do not despair. Instead, take a step back and analyze what went wrong. Did you fail to do proper research before investing? Did you give in to impulse buying without considering the long-term consequences? By identifying the root cause of your mistake, you can ensure that you do not repeat it in the futur...
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