Being financially disciplined can sometimes be extremely difficult. An abundance of choice of goods and services, accounts in social networks with a beautiful life, marketing gimmicks, the desire to improve the level of comfort in our lives – all this makes the money we earn slip through our fingers. Therefore, here are some of the best tips to help you be more financially disciplined.
Pay Off Credit Card Debt in Full Every Month
Make it a rule to
pay off all your credit card debt during the grace period. This is the only viable option for using a credit card. Then you can avoid charging high interest, but you will still take advantage of the credit card in the form of large cashback and discounts.
Open a Savings Account
No matter what the ratio of your expenses to income is, there is always the opportunity to save something and put it off. We always say that the less you earn, the more carefully you need to monitor your budget and the more consciously you save money. It can be at least 2 thousand rubles a month.
Calculate how much, for what purpose, and by what time you need it. Make a plan, adjust it taking into account your financial situation and determine a comfortable amount that you are ready to give for these purposes per month. To avoid the psychological temptation to spend this money on something pleasant right now, just imagine that this amount is another monthly bill that you must pay.
Formulate Your Financial Goals
A clear knowledge of the goal makes it easier to refuse unimportant spending and makes the accumulation process more comfortable. List all of your financial goals. And then divide them into short term, medium-term, and long term. Here are some examples of each type:
- Short-term goals:
small household goals (buying a new washing machine, redecorating the room), taking a refresher course, learning a foreign language, having dinner with friends twice a month, saving for gifts. - Medium-term goals: savings for a vacation, building a financial airbag, buying a car,
- Long-term goals: a down payment on a mortgage, paying off a large debt, saving for retirement, saving for the education of children.
Share Your Needs and Your Desires
Even when you have clear financial goals, it can sometimes be difficult to resist your desires. Remember to think long and hard about any more or less expensive purchases before making them. How will they improve your life? How do they match their value? Will they help you earn more money in the future? Will they make you happier?
If you answer most of the questions negatively, then you should refuse to purchase. Set a time frame that you agree to wait before giving money for something. In a day, your ardor will most likely fade away, and you will not be wasted, but you can still get a little closer to your goals.