Small Steps to Become More Disciplined with Money

Most financial experts will tell you that the root of many money problems is a lack of discipline. In a world where credit cards, convenience, and consumerism are the norm, it can be difficult to be disciplined when it comes to spending. But if you truly want to be debt free, stop living from paycheck to paycheck, and have savings, you need discipline.

  1. Stop Using Credit Cards

This can be one of the most difficult steps, but it is a necessary and highly beneficial one. Without having plastics to rely on, you have better chances of resisting mindless spending and increasing your debt. You’ll depend on whatever cash you have available, so you can be more aware about the actual money you really have at the moment.

  1. Sign up for an Automatic Savings Plan


Every year you make a resolution to save more but end up with nothing in your savings account, or worse, being buried in debt. By enrolling in an automatic savings plan, a certain amount will automatically be deducted from your earnings each time you get your paycheck. This can be more convenient and gives you no excuses for not being able to set aside funds.

  1. Use the Envelope System

Making a budget can be easier with all the available tools and apps today. The tricky part is sticking to it. By practicing the envelope system, where you put a certain amount in an assigned envelope for a certain item (rent, groceries, gas, electricity, etc.), you can be more aware if you have overspent and you can be sure that you have allotted money for all your monthly necessities.

  1. Practice Mindful Spending


Before you buy something, ask yourself if you really need that item. Was it included in your shopping list? Are you buying it out of impulse or emotion? And can you survive just fine without it?

  1. Reward Yourself 

Every time you achieve a certain financial goal, give yourself a small reward. This strengthens your resolve that hard work will really pay off and you can enjoy the fruits of your labor in the end.

It’s going to be challenging, but the sacrifice and hard work will pay off once you start to experience the positive effects of having more disciplined money habits.