Frugal Living Improves Financial Discipline
All plans and goals require one thing: to achieve your goals, you must be self-disciplined and do what needs to be done. If you want to do well in a marathon, you must train for it. You must do what it takes and have the discipline to do the training portion of the race.
The same holds for having financial goals. You must be financially disciplined to achieve your goals. You must set goals. And to see them through, to be financially disciplined, you’ll need to make a budget and live within it—a spending journal to help you track your spending habits.
Financial discipline is improved when you do the right thing and do the right even when you don’t want to.
This is how frugal living improves financial discipline. You make it a practice to do the right thing even when you don’t want to.
Frugal Living Improves Financial Discipline
Many years ago, when I was in the U.S. Army. We could earn certain benefits by doing our jobs correctly. We could go into town for an evening, go to the theater to watch movies, could eat at one of the restaurants on base.
But to not do the right thing meant we would not have those privileges extended to us, and sometimes we were punished for not doing the right things.
The same idea holds for money management and financial discipline. Either you do the right thing and reap the benefits, or you won’t.
There are many benefits to frugal living. Some are early retirement is possible. Frugality teaches you how to save money.
Believe it or not, being =frugal will enhance your self-control=.
What Is Financial Discipline?
Financial discipline is doing what you know is best for you financially. We all know we need to save money for the future. The future includes retirement and upcoming events.
Make and keep a budget so we live within your means. A budget works best if you use a spending journal. You will know before you blow your budget by comparing your daily spending to the amount you have set aside for a category.
What Is Frugal Living?
Frugal living is managing your money so you can have the things you want. It requires you to use a budget spending journal, be debt free, and plan for the future.
What do you want? Where do you want to be in thirty years?
This Is How Frugal Living Improves Financial Discipline
Like in the army, if you wanted special privileges, you did what you were supposed to. Your platoon Sargent could tell you to do something, but he couldn’t make you do it. Only you could make you do it.
Because you wanted the benefit, you did it whether or not you wanted to.
How many times have we heard you need to:
- Save money
- Keep a budget
- monitor your spending
And so many people don’t have a budget, and most can’t finance a four-hundred-dollar emergency. They’re not reaping the benefits of financial discipline because they don’t use it.
Financial Discipline Is
It is doing what is best for your finances, whether you like it or not. It’s a lot like receiving privileges in the army. Either you do what you are supposed to or not. If you do what you are supposed to, you reap the benefits.
Frugal living improves financial discipline. To live frugally, you must keep a budget, decrease or eliminate debt, and set financial goals. Whether you like it or not, these things are good for your finances, and by doing them, your financial discipline will improve.
The longer you practice frugal living, the more natural it will come to you. There will come a time you don’t even consider whether you should or shouldn’t make a budget or use your spending journal.
What wants was difficult is now routine. You are now financially disciplined.
Conclusion
Doing what you need to do even when you don’t want to is a sign of self-discipline. And finances are no different. Doing what should be done is essential. By saving money, using a budget and a spending journal, and making short and long-term goals, you’ll whiteness frugal living improves financial discipline.