26A – Celebrating Failure

1) Tell us about a time this past semester that you failed -- whether in this class, or outside of this class. Don't spare any details! It'd be even better if there was something you tried several times this semester, and failed each time.

During this semester, I failed at budgeting my money. I ate out a lot with my friends, bought what I wanted and didn’t keep track of the small payments that ended up pilling up. Now that I am on my own and that I have full control over my money, I didn’t realize how fast money could be used. I never fell into the negatives and I don’t have debt, but now I struggle with having enough money now; after I used money in the beginning of the semester.

2) Tell us what you learned from it.  

I learned how important it is to keep track of your money and not spend it on things that I do not necessarily need. I learned how to budget in a way that I can see where I spend my money and I try to save as much as I can. And I found a method that helps me be aware of how much I am spending; I found that spending cash instead of using my card helps me physically see how much money I have and how much I have left.

3) Reflect, in general, on what you think about failure. Failure is hard, isn't it? It's embarrassing, sure, but it also means that we have to change something about ourselves. Talk about how you handle failure (emotionally, behaviorally). Finally, talk about how this class has changed your perspective on failure -- are you more likely to take a risk now than you were just a few months ago?

I tend to reflect after I fail. I’m not afraid of failing, but I try to avoid failing and so I try to think about what I did wrong and how I can fix it. This class has helped me think more in depth of my business venture and now I don’t feel so worried or scared about failing. Of course I still have my doubts, but I feel more comfortable with failing.