If you lose money by making a bad investment decision, that doesn't mean you've failed as long as you learn from your mistake and don't repeat it. If you have trouble finding someone who will lend you money, that also isn't necessarily an indication of failure, depending on whether or not you can find another source of capital. In fact, the most successful people I know never give up, they keep working hard until they eventually find a way to succeed.
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The same goes for personal finance. You may run into some obstacles along the way, but if you stick with them, you should be able to reach your goals.
Success and failure
There is a major difference between success and failure when it comes to personal finance. Successful people are persistent, while unsuccessful people give up easily. This means that you shouldn't always expect to fail at whatever it is you're trying to do. When you actually start succeeding, however, it's easy to become complacent and just coast along without putting in much effort.
The best approach is to make sure you take a balanced view of your progress. If you feel like you aren't making much headway, try to figure out why and work on improving things. If you feel like you're doing well, make sure to keep pushing yourself and make even greater strides in the future.
To avoid complacency
It's important to differentiate between success and failure to avoid becoming complacent. In some cases, failure is inevitable; you'll make mistakes along the way and have setbacks. These failures can often lead to bigger successes down the road if you learn from them and move on.
On the other hand, sometimes you won't put enough effort into achieving your goals and you'll simply fail. Failing can be discouraging, but you shouldn't dwell on it too much since you can always start over again. Don't let fear of failure stop you from reaching your full potential. Instead, learn from your mistakes and use those lessons to improve your chances of success next time.
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