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Steps To Take To Improve Financial Discipline

I am sitting here typing, but my mind is elsewhere. I am thinking about buying a jacket for £80. I need a thin jacket, but as I rarely leave the house under a lockdown, it is hardly essential. And it does not have to cost £80. But after the discipline of early lockdown, cabin fever is distracting me. I have the urge to spend money to get through a difficult period. And I do not have the money to do so. So i thought it apt to look at how to keep on the right path despite all the temptations that exist around us. Here are some steps to take to improve financial discipline. Once you become disciplined in one area, you may see the benefits and discipline seep into other areas of your life.

Steps To Take To Improve Financial Discipline – Write It All Down

Having goals written down makes it more real for you, and reminds you of where you want to be. Perhaps you should display what you write down somewhere that is prominent. Then you see it a lot, which will hopefully spur you on. The last thing you want is to slowly forget your goals. They need to be at the front of your mind. Though not every minute of the day, that would not be healthy! Set reminders for your actions needed to meet the goals too.

Steps To Take To Improve Financial Discipline – Imagine The End Game

 

What is driving me right now not to buy that jacket i want? Quite simply, the fact that by not buying it or anything else, i will be debt-free quicker. And that is my number one priority in life right now. Because at that point I can buy any item of clothing and book that holiday next summer i desperately need. And i can do it without guilt because i earned it.  Should you struggle with your goals at any point, remind yourself why you are working towards them. Recall why you are making sacrifices. That should spur you on. And if you feel the need to spend on something unnecessary, walk away. If you still have the desires a week later, then maybe it is something worth getting.

Start Small

 

If you set your first goal as becoming a millionaire within a year, you’re unlikely to succeed, and will most likely give up very quickly. Goals have to be achievable, but also it may help to progress them. Start small, then ramp up the achievements so that you have a steady path to travel along. It prevents you from overwhelming yourself with too much ambition. Prioritise and decide what you need to deal with above all else.

Know Your Limits

It’s fine to push yourself, but you know what you can and cannot do. Be realistic. Do not make crazy goals. Think about what direction you wish your life to go in and make moves to simply move in the right direction. My first goal is simple and i have already met it. And that is simply to go out for a few drinks and not worry about the cost of getting a round in. My next goal is to wipe half my debt. And finally to wipe all of it. Achievable, but not without a lot of hard work and sacrifices. 

 

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