How to be a role model to our younger siblings?

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Being a big brother or sister to our younger siblings is a huge responsibility. Simply because they're usually looking-up into us, they imitate the way we act, dress and the way we interact to our friends and other people. But how can we be perfectly good role model to them if we only face our lives in trial and error. We too have our own mistakes, how can we manage to told them not too repeat the mistakes we had?