The Role of Discipline in Your Financial Plan

The Role of Discipline in  Your Financial PlanAll discipline for the moment seems not to be joyful, but sorrowful; yet to those who have been trained by it, afterwards it yields the peaceful fruit of righteousness.
Hebrews 12:11 (NASB)

The Scripture verse above highlights the word discipline. So what’s discipline?

In looking at a couple of dictionary definitions, you can see that discipline can be defined as the ability to keep working at something that is difficult.

Another definition states that discipline is an activity that is done regularly as a way of training yourself to do something or to improve your behavior.

So the notion both from the Bible and from the secular definitions is that, discipline involves hard work, dealing with a difficult situation, on a regular basis, for a period of time, with the ultimate reward of improving your current situation.

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Discipline in Your Financial Plan

Discipline enables you to:

  • Prepare and work on your budget every month because you know that’s how you can control your money.
  • Keep track of your expenses so you can manage your money.
  • Stay consistent with your debt snowball and avoid falling for the traps of debt consolidation and credit repair scams. You know there is no quick fix.
  • Wait and you don’t buy a house until you are ready. You are immune to house fever.
  • Learn to save and wait to pay cash for what you really want. You don’t live just for the thrill of the moment.
  • You don’t panic with the ups and downs of the stock market. You stay on track with your investing strategy.

If you are in bad shape with your finances, realize that you did not get here overnight. But also realize that you can turn things around starting today.

Your Challenge

You can make the decision to get on different plan that gives you and your family hope for the future. But wishing for a different outcome is only part of the equation.

You need a plan and you need to act on your plan with urgency and discipline. If you need help, I can coach you through the process.

Don’t wait any longer. The time is now and the only person that can change your financial plan is you. Let’s get going!

Question: What other examples can you share about applying discipline in your financial plan?

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