107. Don’t allow the same failure twice. Let your failure be a part of your honor, not a source of your shame.
導向成功的金玉良言 --- 成功秘碼 45條
Defeat is nothing to be ashamed of as long as you can make sure it won’t happen again.
So long as you can fully acknowledge your own failings, and have the determination to not make the same mistakes, those missteps are guaranteed to bring you closer to the eventual success.
Don’t cause yourself to suffer through the same regret twice. Finish what you need to do today, for tomorrow it may be out of your hands.
Even the largest companies can be forced to close down. With investments we must be extra careful, never to let our greed and pride take reign, or act in brashness and irrationality.
The financial crisis has driven many individuals and companies to bankruptcy. We should try to learn from the failures of people around us, so we can reevaluate our own financial directives.
The global economy is still on shaky grounds, so now more than ever people should learn to be financial planners and wise investors, keeping a firm grip on your own capital.
Educate yourself in finance, for that knowledge can help protect you and others from falling victim to frauds. Everyone should put in some effort to learn about economics, so as to improve their own financial management.
A smart consumer should always fully consider the pros and cons of the financial product in question, and compare it to others on the market before carefully reaching the decision of which to buy.
Whether you’re buying stocks, bonds, or a house, applying for a loan, managing a business, or opening a store, you need to be well-equipped with adequate financial and legal knowledge.
No one can survive without money— in fact it is a crucial part of our daily lives, which is why you should take the time to learn about financial management as soon as possible.
If you do not want to fall victim to others’ tricks and frauds, you need to be adequately informed in finance and law, and possess a good amount of social experience.
Uncertainties and fear can cause the stock price to plummet, while collective greed would drive the stock price up. Greed and cowardice are the two mistakes made by investors far too often.
Those who know nothing about financial planning, who make no effort to build a savings yet love to spend and don’t hesitate to borrow are the ones who will inevitably end up in a pile of debts.
Too many credit cards are being issued nowadays so that the general public has grown into the habit of consuming on debts out of their ignorance of the consequences, forcing a considerable amount of debts unto themselves. Credit card overuse is causing the pervasive lack of savings among the citizens.
Granted, credit cards are convenient, but you should always avoid being charged the high interest rate. It is meant as a shopping convenience, not a way for you to live on borrowed money.
Credit card is not meant as a tool to acquire long term loans, and should not be used unless necessary.
People with savings won’t need to pay high interests to the credit card companies. If you are, it is exactly because of your lack of savings.
The reason for the pervasiveness of credit cards today is that people like to over-spend and live beyond their means.
Credit card overuse is driving up the collective debts of the general public. In effect, the card users suffer while credit card companies’ rejoice.
A large inventory of foreclosed properties is blocking the flow of capital in the US economy, and short sales are on the top of the list for creating a jam in the lending pipeline. Owners of devalued properties went from healthy consumers to an impoverished population.
The economy cannot hope to recover any time soon while the bank still holds toxic assets.
Until nation-wide unemployment rate drop below 6% in the United States, all hopes of economic recovery are in vain.
The global real estate market is still riddled with problems, collapsing under the weight of devalued properties, while the banks are dragged ever downwards by their toxic assets. Now that the banks are starting to address those toxic assets, more foreclosures will be released onto the market. For certain areas, the housing market may still have room to fall.
Falling home prices are certainly bad news many, but it’s good news for those who can buy at a cheap price. The low prices are bound to lure in a substantial number of buyers and investors, meaning a new round of home-buying fever is just around the corner.
Once the home prices hit rock bottom we can expect another round of home-buying frenzy. If you do not want to suffer similar failures as before, you must take swift and decisive actions to seize your opportunity for wealth.
You may have lost the opportunity to purchase a house ten years ago, but you should not make the same mistake again a decade later: do not fall victim to the same mistake twice.
It is understandable to make mistakes, and even if you repeat it one or two more times it’s still not too late to correct yourself and start over; but if you keep making the same mistakes over and over again you would have no future to speak of.
There is no future for those who repeatedly make mistakes with no savings, no credit, and no self-restraint yet indulge in gambling, sex, drugs, and play.
Don’t expect to qualify for a loan if you are one of those people who repeatedly make mistakes because you are unwilling work hard, have no savings, credit, or a decent income.
Get your credit history, income, and cash savings ready as you move in to battle for the property you want. As soon as property prices hit rock bottom, a home-buying frenzy is bound to begin.
Be honest about your various sources of income when filing your taxes, for the banks will calculate how much to lend you based on how much you earn.
In a bad economy the most important thing is to keep your current job and avoid being laid off at all cost. Secondly, you have to start saving up for an emergency fund and be extra mindful not to invest in anything risky.
Never lose faith in yourself, even if you lose your job or your house during the financial crisis.
Only those who have suffered through and survived the harshest trials and tribulations in life can eventually find real glory and success.
A man who has never suffered can never understand what happiness means, just like a person who has never seen defeat can never comprehend triumph. People who have never gone through all the toils in life will never appreciate how hard it is to make a living in this world.
A man living by his parents’ wealth may be lucky, but also in some ways unfortunate. He is lucky because he can live a good life without any hard work on his part. Yet he is unfortunate in that he will never experience the gratification of success and accomplishments from his own hard work.
A person born with a silver spoon may have a sense of superiority, but with it comes emptiness as well.
A child who has everything he wants may not understand the concept of true happiness.
The sense of fulfillment that comes with accomplishments is a crucial element of happiness, which is why rich kids inheriting their parents’ wealth are seldom ever happy.
You can slack off and stumble once in a while just as long as you don’t make the same mistake twice.
People who never make the same mistake twice are saints who know to learn from their past failings.
Without defeats there will no triumph. A life without failures is a huge failure in and of itself. People can’t claim to have grown up without having weathered defeat.
The economy may have dragged you down, but you should never lose your spirit. Seize whatever opportunities there are and start over—that’s how you gain valuable life experience.
Have the determination to learn from your mistakes and never repeat them, and you will have taken the first step towards success.
Turn your failures into the stepping stones to success; use the experience to help steer your way. To ensure that your failure becomes a part of your glory and not a source of shame, don’t make the same mistake twice.