3 D’s of Financial Discipline

A new year present opportunities for better money management.  It also holds the opportunity to repeat your past mistakes.  If you wish to have more success financially, please read the rest of this article.


While the term “budget” may leave a bad taste in your mouth, it is a must to succeed financially.  Every dollar spent must have a destination.  Money that doesn’t have a destination ends up being spent frivolously.  Having a budget “in your head” is not enough.  It must be in writing before the first dollar is spent.  There are good budget programs available in software like Microsoft Money and Quicken.  Each expenditure can be listed with the monthly amount entered in each listing.  If the idea of a budget seems restrictive, go ahead and budget a “fun money” line item for you and your spouse.  This amount needs to be agreed upon by each spouse.


What you spend money on reflects your priorities.  Spending $1,500 on a comfy cruise without an emergency fund says something about your priorities.  What percentage of your budget is spent on needs vs. wants?  The payments you’re making on that flat screen TV…they would come under “want.”  Your house payment would be a “need.”  If your budget is devoted more to needs than wants you can say that you’re on the right track.  As mentioned earlier,  having some fun spending in the mix is tolerable as long as it’s within reason.  After all, all work no play makes Jack an incontent boy.


You can’t always get what you want.  I’m sure there’s a song with such lyrics out there.  The artist’s name evades me right now.  The quicker you realize this principle, the further progress you will make to financial success.  This simply means saving for future expenses.  Yes that other dreaded word in this post, SAVE.  It’s well known that American families are saving less and less these days.  Are you willing to wait to enjoy reaching a goal?  Do you have to have it now?  What is your preference?  Saving monthly to enjoy that great vacation a year from now?  or whipping out the plastic for a Visa Vacation?  Your answer will tell how well you’re willing to wait.  Have a great and disciplined new year!






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