The Beginner’s Guide To Financial Discipline
One of the most important concepts I have learnt over the years about money is the role of financial discipline in managing personal finances.
One of the most important concepts I have learnt over the years about money is the role of financial discipline in managing personal finances.
Having a good understanding of how money works is the quickest and surest way to get your financial life back on track, especially when it comes to managing finances.
Your past experiences with money will invariably affect your attitude towards finances later in life.
Have you ever thought about how long you would not only survive but also thrive financially if you were to lose your paycheck?
Making the sudden realization that you don’t really know much about money can be a terrible predicament, especially if your lack of knowledge has kept you stuck in a life you never imagined.
In most households, there is hardly any discussion about saving, investing and multiplying money. The focus is usually on how scarce money is, and how we should only strive to earn what is enough to get by on a day-to-day basis.
The basic function of a bank or financial institution is to collect money from those who do not need it right away and lend it to those who need to put it to productive use, while making a profit in the process.
A good approach to building wealth one step at a time is getting your finances in order and taking the action required for you to retire sooner than you thought, so as to live the life you’ve always wanted.
Our financial habits are usually patterned from what we learnt or what we observed about the way authority figures in our lives related to money.
The urgent need to control your finances usually sets in after you find yourself way behind ‘schedule’ when it comes to retirement, investments, and attaining your financial goals.