I Made a Huge Financial Mistake at Work

Making a financial mistake at work can be so overwhelming, the thought of, am I going to lose my job lingers in your memory and you can’t seem to wrap your head around the fact that you just made a huge mistake, you can’t just take your mind off it as you keep thinking about it, and it’s very easy to conclude that your boss will fire you and might even go as far as spoiling your reputation. Let us know about ‘I Made a Huge Financial Mistake at Work’

I Made a Huge Financial Mistake at Work

I Made a Huge Financial Mistake at Work:

Firstly, don’t make a fuss out of your mistakes, your mistakes don’t define who you are and what you are capable of achieving. Instead, Admit your mistakes, inform your boss or the person overseeing your work, try to look out for possible solutions, and be actively involved in making things right if you have the privilege of doing so.

What You Should do When You have made a Financial Mistake?

Certain mistakes can be so costly at work, one of which is financial mistakes. 

As an employee, there are certain things you should do when you make a financial mistake namely:-

  • Breathe and admit your mistake
  • Inform your boss
  • Discuss solution
  • Be actively involved in putting things in place

Breathe and Admit your Mistake:

After making a financial mistake, there is a high probability that you will be tense, cold shivers run down your spine, you might even have a sweaty palm and your body system might not be in order. 

Jeff Bezos Career Advice
Jeff Bezos Career Advice

Take a breath, don’t panic, try to calm your nerves, and don’t get yourself worked up by blaming yourself. It is human to make mistakes, don’t shy away from your mistake, admit it and be ready to face the consequences.

Inform your Boss:

This is a very difficult decision, how do you want to stand before your boss and tell him you made a mistake with the figures and you realize it after clicking the “send” button? These are thoughts that will be running through your mind. But the truth is whether you tell him or not, he will find out later and the more you delay, the more complicated it gets. So, don’t delay, walk straight to their office and tell him/her about it. Yes! You will be scolded but you don’t want them to get to know from a third party. So you have to gather a lot of courage to confront him/her.

Discuss solution:

Don’t be pessimistic while telling your boss about it, it will be advantageous when you can come up with possible solutions to the mistake 

Be actively involved in putting things in place:

Be actively involved and maintain communication throughout the process, make sure you are in contact with those who are involved. Don’t withdraw yourself from the financial loop

What you should not do when you make a financial mistake? 

While there are certain things you should do when you make a financial mistake, there are some things you should not do as well. The following are things you should not do when you make a financial mistake

  • Don’t try to cover up your mistake: Covering up your financial mistake is not going to make things better and you can’t cover up for too long before your boss discovers and makes a big fuss out of it. 
  • Don’t play the blame game: Don’t hold someone else responsible for your mistake, don’t give flimsy excuses, be mature in your profession so that you can accept your mistakes, and be ready to face the consequences 
  • Don’t be pessimistic: You’ve made a mistake and it’s costly, don’t talk in a pessimistic way that can aggravate anger and make your boss more furious

Will I get fired if I make a huge financial mistake at work?

This is the biggest concern of every employee after making a mistake. If your mistakes have a significant effect on the company and there is no possible solution, you may be laid off but if there are ways to solve the problem, you may not lose your job. However, if you don’t lose your job, ensure you make a significant impact and effort in proferring solutions.

How to confront your boss after making financial mistakes?

Confronting your boss about your financial mistake can be a very difficult step to take. How do you stand up to them and tell them about the mistake? Feelings of guilt, fear and doubt overwhelm you from your inner core and you could feel the vibrations from your body. 

Gather up enough courage and walk into his office, greet him and if he asks you to sit, tell him you are okay with standing. Explain to him you’ve made a huge mistake, and tell him how you made the mistake and how innovative ideas that you have thought of that can solve the problem.

Have it at the back of your mind that it can result in termination and it might not as your boss can come up with innovative ideas and solutions to fix them(if possible). Also, your boss can react in two ways; 

  • He/she can flare up, get angry and embarrass you
  • He/she can get angry and immediately start looking for a way to proffer a solution to the problem.

How to fix your mistakes at work?

  • Be proactive
  • Work efficiently
  • Reach out to customers more and more
  • Work efficiently 

Getting fired for a financial mistake at work

Some mistakes are just too major and can come with very dire consequences, in this situation, the employee might be laid off because of the gravity of the mistake. If you find yourself in this situation, and you don’t have any choice but to leave, the following tips will help you

  • Don’t leave loose ends: Ensure that you apologize properly to your employer, let him be aware that you regret your action, and that you are ready to take possible steps to fix the mess. Display enough sympathy.
  • Learn from your mistakes: Mistakes are made so that we can learn from them, don’t be nonchalant about the mistake you made. Reflect on your mistake, how it happened, why it happened, and how to level up in your career to avoid such mistakes in the future. Also, don’t dwell on your mistakes, and don’t make a mountain out of a molehill by wallowing in depression. Brace up and level up!
  • Use it to your advantage: After getting fired from your workplace, you are on another job hunt to secure a better job for yourself. When interviewing for your next job, you can show your employers how you have great experience in figures and relate it to your strength. Focus on the great things you have done in your career.

Conclusion: 

In conclusion, it’s human to make mistakes but mistakes are good when you can learn from your mistakes and use them to your advantage. Also, when you make a financial mistake at work, admit your mistakes and be ready to fix your mistakes

Frequently Asked Questions: 

  • What should I do when I make a financial mistake at work?
  • Breathe and admit your mistake
  • Inform your boss
  • Discuss solution
  • Be actively involved in putting things in place
  • How do I confront my boss after making a financial mistake at work?

Explain to him how you made a huge mistake, and that you are already working on possible solutions to the problem 

  • What do I do if I am fired?
  • Sincerely apologize to your boss
  • Learn from your mistakes; don’t dwell on it
  • Use your mistake to your advantage
I Made a Huge Financial Mistake at Work

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