Financial Discipline

avatar

img_0.060196421605927065.jpg

image

Oftern times people mistake being a miser with being financially disciplined because they don't see a miser enjoying life. Instead of taking sparkling water they prefer tap or clear water, instead of the best designers they wear basic clothes with no fashion or style. There is a huge difference between being a miser and being financially disciplined which many people don't realize and so plunge themselves into debts and horrors. Being financially disciplined means you know how to control your spending to meet future monetary goals. Most people that struggle with being disciplined with money have no goals, no savings or investments. They want to enjoy and live their best without worrying about tomorrow but sadly if you don't worry about tomorrow now it will certainly deal with you.

Life shouldn't be all about what you can eat today, wear today or the best car. As an adult you should have plans for the future because it would be really dumb to be rich today but after certain months you become a pauper without a dime to his or her name. The world of consumers keep growing by the day and there will be more things for you to buy every passing minute.Luxury cars, luxury houses, jewelry, clubs , at the right price name it and it will be yours. Even if it will cost you enough money to start an investment that your future generations will thank you for.

Well if you don't want to wake up one day on a pile of garbage you have to start thinking and acting now. First you need to set goals, savings goals, investment goals or business goals. What investment can you go into long term that would yield great profit years to come, what amount can you start putting aside today to ensure you buy your own house soon rather than spending on overpriced apartments. Thinking like this will help you plan and so help you cut down on unnecessary expenses, things that won't yield profit in the future.

Secondly you need to stop taking loans. Unless you have plans of how to turn that loan into millions of dollars it's advisable that you don't take loans to buy a car, go on a vacation or buy that expensive dinner dress. Just because your bank gives you options of buying items above your balance doesn't mean you should take it at every opportunity you get. Items like that will depreciate over time but your debt will remain or even increase with interest rates. Avoid the pressure to follow trends you can't afford in order to please your peers or family.

You also need to learn to separate your wants from your needs. You don't need a $5000 watch unless you are Mark Zuckerberg or Elon Musk. I doubt Mark Zuckerberg would even go around wearing a $5000 watch in an effort to please anyone, you can tell by how simple he dresses. By sticking to the basics you would be able to stick to your budget and meet financial goals easier. It's only a matter of time for your investments to start paying off so you can enjoy and buy as much luxury items you want. Being financially disciplined doesn't mean you suddenly become a miser or find it difficult to enjoy the things of life, it is simply a way of ensuring financial stability and freedom.



0
0
0.000
2 comments