“Financial discipline is when you see the word sale, mark down or special and just ignore and look on your spending list” Tarie Manyonga
Many justify themselves that buying items on promotion is a saving. I don’t blame them because l also used to belong to that school of thought before l understood what it meant to be financially disciplined.
What do l mean by having financial discipline?
Financial discipline refers to how well you are able to conform your spending and saving to the plans that you have set to achieve your financial goals. This is when you are guided by a goal or a plan of how you intend to use your finances. Without a financial plan, you will not be able to track how you spend your money. This will lead to a vicious circle on your earning, before the month end you are already broke, borrowing then wait for payday again and the cycle continues.
First and foremost, you need to set financial goals and understand what you want to achieve with your money. Without the financial goals, its easy to be swayed with unnecessary purchases and using the money recklessly.
The setting of financial goals is easy. This is just writing a plan on how you want to use your money. You can break these down into three which are the short, medium- and long-term goals. Ensure that you set realistic goals that suit your income so that you won’t suffocate your budget. If you have this plan or direction of how you want to use your money, even when you see the word “buy one, get one free” if that is not on your spending list, you will know that it’s not worth your money. Also, understanding where you want your finances to be will make it easier to say NO when friends call you and tell you that there is a special on shoes, etc.
Rewards of Financial Discipline
It might not seem like fun to turn down spur-of-the-moment outings with friends or purchases, but having financial discipline pays off in the long term. Living within your means reduces your stress levels. And, you can make sure you have the money for the things which are really worth spending on.
“If it’s not on the list it’s not worth to spend your money on”
#moneymattersbeinchargeofit
#financialdiscipline
#controlyourmoney
By Tarie Manyonga
