Fail Forward: How Every Financial Mistake Makes You Stronger

At Purse Strings, we know the truth: every woman has a money story—and not every chapter is a win. But here’s the thing: every financial mistake is a chance to get stronger. In our latest episode of Money Talks, we unpacked the concept of “failing forward” and how even the biggest money setbacks—like blowing a six-figure inheritance—can become fuel for your financial comeback.

Turning Mistakes Into Momentum

One of the most powerful stories shared? In a recent podcast episode, Haley Brown-Woods received a $600,000 inheritance—and within a few years, found herself $200,000 in debt. But she didn’t stop there. She got curious, got help, and got back on track. That’s what failing forward looks like. It’s not about perfection—it’s about learning, rebuilding, and rewriting your money story.

No Shame in Your Money Game

Our guest, Bill Promes, a Purse Strings Approved Financial Professional, reminded us that even the pros screw up sometimes. From buying a fancy car right out of college to navigating unexpected expenses, he’s made mistakes—and learned the hard (and expensive) way.

💬 His advice? “It’s not the mistake that defines you. It’s what you do next.”

Common Financial Mistakes Women Face:

• Overspending after big life transitions

• Draining retirement accounts to stay afloat

• Underestimating long-term financial impact of caregiving

• Avoiding budgeting due to fear or overwhelm

Sound familiar? You’re not alone—and there’s a way forward.

Your Debt Repayment Blueprint: Snowball vs. Avalanche

Bill broke down two go-to strategies for debt recovery:

• Snowball Method: Start with the smallest balance for quick wins and motivation

• Avalanche Method: Tackle high-interest debts first to save more in the long run

The best choice? The one you’ll stick to. Debt repayment isn’t about the perfect formula—it’s about progress over perfection.

Budgeting Tips that Actually Work

📌 Track your expenses
📌 Cut the financial fluff (we see you, daily DoorDash!)
📌 Set realistic goals, not Pinterest-perfect ones
📌 Celebrate small wins (yes, skipping one impulse buy counts)

Healing Your Money Mindset

Financial shame is real—and it keeps too many women stuck. But we’re here to say: there is no shame in starting over. From divorce to job loss to messy money habits, we’ve seen it all. What matters is taking the next step—and not doing it alone.

Resources That Can Help

✅ Local grants and financial aid for women and minority-owned businesses
✅ Side hustle ideas to boost income
✅ Budgeting apps and money trackers (we love Rocket Money and Monarch)
✅ Purse Strings Approved Professionals ready to support your journey

Fail Forward, Financially Fearless

We’re not here for shame. We’re here for real women, real talk, and real financial progress. Whether you’re picking up the pieces or just ready to take your money more seriously, know this: you’re allowed to grow from where you are.

Join us for our weekly Money Talks session, where we break down real-life money topics. To explore our Purse Strings Approved Professionals, check out our directory to find an expert!