This is one of those sayings that are a big part of my philosophy. My thoughts are generally expressed a little differently, but mean the same. I believe that our choices decide our lives... and while we are free to choose, we must also be accountable.
Those last words, *be accountable* are extremely important because there are not many (if any) people in the world who have gone through life without having made a few bad choices. And that's OK, as long as we realize that even those bad choices played a part in who we now are. We have to "own" them... maybe even forgive ourselves for them... although I find the later one of the hardest things to do.