Reaching your goals by learning from past failures

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One of the main reasons we designed Frollo was to help our users reach their financial goals. Our Goals and Challenges feature allows you to set short and long-term targets for yourself, after which the app will let you know when you are heading off track or congratulate you when you are nailing it!

It is one of our most popular features, and recently we received an email from Emma who loves setting challenges, but was getting discouraged by not being able to complete them successfully.

Our response?

It’s not only OK to fail; sometimes, failure is the only way to reach your goal!

Learning from your mistakes
Most goals worth attaining are difficult to achieve. Moreover, financial goals are sometimes the hardest as they involve changing aspects of your behaviour and lifestyle while managing your money.

So if at first you don’t succeed, use Frollo to understand why.

For example, Emma set herself a Grocery Bash challenge, but didn’t meet her savings target in the first week. She had intended to go shopping after work, but work got busy, and so opted for takeaway instead.

In Frollo, Emma could also see that the convenience of tap and pay meant that she was spending a lot more on food and eating out than she had realised.

Set smaller, achievable targets

Before the next week, Emma set herself two habits to change:
1. Set a cash budget for $100 to eat out during the week, including workday lunches. Using cash is sometimes a great way to curb the convenience of tap and pay!
2. Do an online grocery order, which meant her groceries were delivered on the weekend and she had all the ingredients to cook during the week.

So don’t worry if you fail any of the challenges you set yourself. The key is to understand why you failed, and then set yourself small, achievable tasks to change your habits for next time!

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Who we are

Frollo is a purpose-driven Australian FinTech on a quest to help people feel good about money. We’ve built the simplest way to help people get their finances on track – and through our business ecosystem, we’re supporting our enterprise clients to do the same for their customers.

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