Page 22 - Workbook1E

#10
3Exercise Financial Discipline
Most anything is possible with self-discipline, and without self-discipline, almost nothing is possible. It takes discipline to follow your roadmap and stay on the road to financial freedom. Discipline yourself to live on less
than you earn and put the power of interest to work for you.
Too often you give up what you want most in order
to get what you want right now. Learning to delay gratification today—for something better tomorrow—is essential to being financially healthy.
What will it take? If you learn how to eliminate your debt, but don’t put what you learn into daily practice—you’ll never enjoy the benefits of living without debt.
Will it be easy for you?
Changing your spending habits in line with things you need most,
and with your values and goals takes time. But if you prepare in advance, you’ll be ready to resist when tempted down the wrong side road. So answer these questions:
1. What do you like to spend your money on?
2. Can you live without these things, or at least with less of them?
3. What will be the biggest challenge to your financial self-discipline?
4. What will you need to change in your life to help you maintain your financial self-discipline?
These questions make you more aware of things to avoid and help you to prepare in advance to resist temptation.
“With self-discipline most anything is possible”
~ Teddy Roosevelt
18 Workbook 1: Building a Spending Plan that Works