The importance of financial discipline

Being financially disciplined can be challenging for many of us. We start out with great intentions with how we will save and spend, but at times we veer off course. Financial discipline is one of the most important foundational elements for any sound plan! These quick tips will help us stay on track!

  1. Know your truth: What are you up against? Who do you owe? How much do you owe? How much are you saving? Knowing your exact financial picture will help you stay within your budget and keep you on your path toward building your Empire.
  2. Automate: Make savings automatic. Not only do you save time, but it also helps put money away without even seeing it. You pay yourself first!
  3. Have a set spending plan: Allocate a certain amount of money for discretionary spending -- after you have set aside your savings. Know the difference between needs and wants, and curb any unnecessary spending. Living within our means will keep us from amassing large amounts of debt that can eat away at cash flow. 4.Be realistic: Set goals that are attainable within a reasonable amount of time. We want to feel like we are making progress without feeling like we are depriving ourselves.
  4. Get excited! Empire building should be something we get excited about. When we reflect on our big, beautiful life we want to be able to look back at 65 and be happy with the decisions our younger self made on the journey.

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