Protect Your Money From Yourself

Financial discipline is a must for ensuring a comfortable future.

- R.M.Vishakha

There is enough literature available to take one down the complex roads of financial management. In this piece, the focus is on 'financial discipline', which is not just an elementary aspect, but a scarcely addressed one, too.

If you have ever heard a person say to you, “Please keep this money with you. I will take it when I need it for a specific purpose. It will just get spent if it is with me”, that is financial discipline. It is an ability to recognise one’s own capacity, potential, planning for the future and recognising the challenges. Financial discipline nurtures and guards your resources responsibly. It helps you ensure that you have money for the major certainties of life.

Purchases made on a whim have the unique ability to drain our income and savings—the primary reason people are unable to stick to a discipline. Therefore, what also constitutes indiscipline is, not having a financial plan in place, as it is more challenging to regulate expenses in the absence of personal money management guidelines. Those successful in managing personal finances have stuck to discipline either by acquiring the skills or taking the assistance of products structured to reward discipline.

DO NOT LET THE SEEMINGLY URGENT TAKE OVER THE IMPORTANT