Self-Discipline And Saving Money

[Trillionphil]

A great way to save money is to be aware of the fact that one has the power to define the state of his finances specifically through a conscious effort of disciplining the way one spends and controlling one's expenditures.

Self-discipline will most definitely be the key to reducing one's debts therefore increasing the possibility of growing one's savings. And in the long run, improve one's standard of living.

According to money management book author Robert Hastings, "Undisciplined money, usually spells undisciplined person". Therefore, if one notices how his hard-earned money seems to slip away so darned easy, then it is about time that he rethinks his ways and try to discipline his unpleasant spending habits.

One of the essential keys to successful money management, specifically saving money is to possess proper attitude. Self-discipline is at the topmost of this proper attitudes list, of course.

Only with self-discipline that people recognize that they do have the freedom and power to do the right thing over doing as their impulses dictate.

Sounds complicated? Well, not really. Knowing fully the fantastic rewards of disciplined money in a disciplined person's hands should be motivation enough for one to do all that is humanly possible to achieve that elusive financial stability everyone hopes for.

Here are some helpful money saving tips.

1. Realize that the most convenient method of building one's wealth is through saving money. Money is the only sensible material to save.

2. Focus expenditures on the things one needs. Live day-by-day knowing that you have enough.

3. Avoid buying on impulse. Take your time when buying, especially the expensive items. If you really need it, it would most definitely not slip your mind. Otherwise, if you go along forgetting all about it, then it isn't really worth the money you have to spend on it at all.

4. Credit card debts hold the number one slot as the cause for financial drains these days. Control your spending by using your credit cards less. Or for unavoidable circumstances when you really have to use the credit card, consider using the ones that charge less interest. Then dump the high interest ones for good.

No matter how you look at it, saving money is so easy to do. A little bit of imagination, some creativity and a lot of self-discipline will take you a long way in keeping hold of your hard-earned money.​

 

[Augusta]

Self discipline is a vital thing when it comes to saving. It isn't even easy to save money with all the fancy things the world have to offer but it only take one with total self control to refrain from buying them. This good attitude of self discipline is always or most times marred by impulse buying, a lot if time we buy what we never intended to buy because we feel we have the money and lost out from the urgent needs we would have accomplished if we didn't spend the money on frivolities. So it imminent to teach self financial discipline and stay away from borrowing or being in debt

 

[Alexandoy]

In my experience buying on impulse is one of the most common bad habits that can negatively affect our finances. Much more dangerous when that habit is aided by a credit card. As they say, you can buy anything you want if you have a credit card and that is true. I know of several people who buy on impulse with the credit card that when the billing statement arrives a headache will torture him no end. It is self-discipline that we need. For me, what I deed was to recall the billing statement that I have to pay for months so whenever there is an impulse to buy I would be reminded of that ordeal. Now I am past that stage.

 

[Jack Reacher]

Discipline is the first you should practice if you want to be a successful trader. All the successful traders on the planet are disciplined traders. They may have distinctive trading techniques however one thing is normal which is they are restrained. Taking in the market and being control is trading is the way to accomplishment here. I am trading with Eurotrader broker. I like their educational resources. It has helped me in my learning a lot.

 

[Richee84]

Saving money and self discipline go hand in hand. One has to imbibe the culture of saving through self discipline. Without self discipline it will be very difficult for any individual to have savings since the fund is at their disposal at anytime. Those who make use of piggy bank have to be more discipline as they are the keeper of the entire savings.

 

[mantra23]

We all know the individual that's too thrifty to be there, someone that's scared to spend money. Then you have people on the reverse side who don't know how and wind up losing their money. But what does it mean to make money, at the same time, if you can't spend it? It is not good hiding mounds of cash and praying that it would never be taken by the Government. A medium-ground is the best way to look at this. Money is a tool to purchase wonderful things, to enjoy life and, above all, to generate more riches. In the end, as a saver or an insane spender, nobody is becoming rich.

I mean think about it, If most people are looking to save money, their first thoughts are to invest in a longer-term savings account (which is a bunch of BullSh*t to me). Although this might appear like a safe place to store your cash, it does more damage than good. First, your returns will be fed by inflation. If you put it in a savings account, inflation will render your money worthless. The inflation rate swings by 1% -2.4% every year, if the economy stays the way it is. The savings account interest rates are around 0.06%.

If you can be offered to take more risks, please think like an investor and if you cannot afford the risk, then a Fix Account at your local bank is your best option.

 

[Abigael]

Self discipline is really important when it comes to saving and spending money. When you know the benefits of saving, you will surely want to practice the art of self discipline with your money. Sometimes self discipline starts by simply being aware of your urges and saying no to them. The more you practice self discipline, the stronger you become.

 

[funmi]

No matter how little the money you want to save may be. Just be determined first and make up your mind to do it. Then discipline will be required too. Saving money really help a lot if you put your mind into it. It is only through savings that you can do some big projects you have at hand.

 

[Lens1000]

To build wealth and financial freedom one need to inculcate the habit of savings . It provide a soft landing spot when uncertainty comes. It's an habit one need to imbibe in ones life in order to make head-way. Saving might be difficult at times , but it takes a strong determination for one to keep saving continuously without ceasing.
It's a thing I need to keep trying to do.

 

[sincerem]

Any one with out self discipline when it matters to saving aren't ready to save money in life. In order to save out useful amount of money for the future, either for emergency relief funds or business, etc. We need to cultivate saving culture, spend on what matters, and have reasonable percentage saved for the future which has its purpose.

 

[Chibson]

Self-discipline is very important for anyone who really want to be wealthy and attain financial freedom. Anyone who is not self-disciplined will not be able to save or even Invest wisely. self-discipline also make your life very purposeful and of course gives you the chance to acquire the right knowledge and understanding of how life generally works.

 

[Sherman198]

We all need to be self-desciplined....In everything we do, we have to be. Self-descipline can make us attain wealthy level in life. Because when you are, you will be able to make crucial decisions in every situation in your life. Being Self-desciplined will make you to be prudent in spending your money. If you are not, you will be making wrong calls always.

 

[Josemendez]

Realize that the most convenient method of building one's wealth is through saving money. Money is the only sensible material to save

I got the point you are trying to prove but I have to add that money that is not able to reproduce itself is not good for saving. What I mean by this is that one should think of expanding his business or investment instead of saving the money and allowing it to be idle in the bank. Perhaps when the investment are multiple , one can think of saving.