4 Steps to Harness Financial Self-Discipline

I’m always on the hunt for relevant info and I loved this - one of the best articles I’ve seen on this topic for a while. Here are a few paragraphs as a taster...

What separates the financially successful from the financially doomed?

Two words: self-discipline.

Self-discipline is “the ability to control one’s feelings and overcome one’s weaknesses; the ability to pursue what one thinks is right despite temptations to abandon it.” And when it comes to personal finance, self-discipline is what you can thank for your success — or your failure.

If self-discipline is one of the areas in which you’re lacking, it’s time to regain control.

Here are four steps to help you develop financial self-discipline.

1. Stop Making Excuses

How many times have you set a big audacious goal only to find every reason in the world not to follow through? We’ve all been there.

Making excuses is easy. Blaming circumstances is easy. Following through is not.

2. Make a Plan

No matter what your financial situation is, you need a goal and a plan. If you want to pay off debt, set yourself a debt-free target date and calculate how much money you need to be paying each month.

If you’re trying to save money, tie an amount and a date to it. Giving your goals deadlines make them feel more real. You need concrete numbers to work towards. Break your big goals into monthly, weekly, and if applicable, daily goals. This is your plan.

Pretty valuable stuff, I’m sure you’ll agree! Why not check out the whole article HERE and share your thoughts with me afterwards: call (0414) 934-277 or email me at [email protected].

Thanks,

Carmen