Financial discipline is a must in a down economy, even if you feel like there isn’t much to be disciplined about. The forecast for the economy looks grim, but mainly because it’s so volatile, and at this point, it’s hard to predict which direction the economy is going to go for good. The question for you is, are you prepared for any financial challenge that comes your way? Have you been paying off your debts and setting money aside for the future?
Being disciplined has been a tough thing for America, and that is because Americans by nature are lovers of more. Living in a society of convenience and changing cars every 4 to 5 years has fallen by the wayside, and you could be reading this and completely relating to what I am saying. When it feels like we are all living in a time of desperation, could it be that we need to step back, and take a second look at what our priorities are and then regain our FOCUS?
Today, I want to share with you some thoughts on financial discipline, and how you can put it into practice to prepare for a better future financially for you and your family.
Gaining Financial Discipline for Better Times Ahead
While there is no perfect answer for each family, you can take the steps you need to take to exercise financial discipline. Some of these may feel painful for you at first, but just imagine how much it will help you.
- Eat out less. When you live a busy lifestyle this may seem difficult at first, but remember, it’s all about planning ahead. Take Sunday afternoons and prepare meals ahead at least for a few days in advance. If you work full-time outside the home, or you are a mom that works outside the home too, you have two jobs! Plan to eat at home during the week as much as you can, and plan for nights out on weekends!
- Sell anything you aren’t using. If you have mountain bikes you don’t ride, and you don’t plan to, then perhaps it’s time to sell them. If you have broken gold jewelry you can’t afford to fix, then sell it to a gold or coin shop and get the cash to pay off debts or buy gold with that money. Remember, tough times are still ahead, and buying gold is essentially like insurance when the dollar fails.
- Try it out before you buy it. Oftentimes, our country has a way of just buying on impulse. I know I have, have you? In reality, we could best exercise financial discipline if we were to try something out before we buy it and waste the money. Many retailers are getting tough on return policies and exchanges. Buyer beware, and try it before you buy it.
Just putting these three things into practice would be helpful enough that you wouldn’t have to fret if you slow down, take a breather, and then act. Remember, instant gratification gets you nowhere!
I hope that these tips on financial discipline have been helpful, and should you desire to learn more about how you can take that money you save and prepare for the future, just go HERE to connect with me personally!