You Don't Need More Money You Need Financial Discipline

Maintaining financial stability is never an easy one to keep up with.

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It is a very big task to make money, and it is also another big task to maintain your wealth. They both require a great amount of discipline to keep up with.

You don't need more money to gain financial stability, you just need more financial discipline to maintain your money.

Financial discipline is just that act of consistently managing your finances responsibly. This requires you to set and track your financial goals and make sure they are in line with your financial plans. This means you maintaining your goals and budget, your are saving and also investing, and you just have to avoid all unnecessary expenses.

Creating and maintaining wealth is never a convenient thing. You need a great amount of work to create wealth and a greater amount of work to maintain it. This is better said that it is easier to make money than to actually keep it. You spend money easily tha n you make.

If you ever lack financial discipline in your life, then making money would not help you gain financial stability, rather it will make you to live an extravagant life. There are people earning in six figures that barely get by in life, and also millionaires that are going bankrupt. The amount of money that you make is irrelevant if you lack the financial discipline to actually manage it.

If you want to quit being broke and become financially stabe, I'm sorry to break it to you, but you're going to have to get some self-discipline. Take a good long look at your spending habits.

Go look at your past bank statements, do what you have to do, and see where are you blowing your money, and you are going to have to rein that in. If you love certain things and you want to keep spending money on them, put a limit on it for yourself.

Make it a variable expense so that you do not blow all of your extra money on that thing. .

Don't steal from yourself.

If you put money into savings, do not go into your savings to get that money out, to buy something that you want to buy. No, give yourself a budget, give yourself limits, and stick to it. That requires self-discipline.

You have to ask yourself, is my future self going to be happy with these purchases, and are the purchases I'm making right now getting me closer to my financial goals, or am I stealing from myself?

Budget on the day you're paid, or prior to. Don't get paid and let that money sit in your account for a few days, or else you're going to blow your budget before you even make it.

You need to be planning your money the day it drops into your account, and you need to move that money around. If you need to set appointments with yourself on the calendar, do that.

You have to do that because if it's not on my calendar, it's not happening, and I know that about myself, so I do that. If that's something you need to do in order to get ahead, please do it.

Control your impulses.

If you go out and you see something you want to buy, put a time limit on yourself, and force yourself to wait to buy that. Every single time that you're out and you make an impulse purchase, you are stealing from yourself.

Something else you can do is ask yourself, am I willing to send the same amount of money that this thing will cost to my savings account right now?

If you can't afford to do that, or you are not willing to do that, do not buy that thing.

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You need to save

Every single paycheck, you need to save something, whether it's $1, whether it's $100, You don't have to save something.

The point is to get into the habit of saving because this is very, very important to you. You need to have an emergency fund,
which is going to keep you from being completely broke.

Take control of your life. Learn self-discipline, because if you can master yourself, you can master anything. Master your money and discipline yourself. You don't need enough money, you juts need enough financial discipline to manage your money and get that financial stability that will better your life.

You don't need more money you need financial discipline.

Posted Using INLEO