In every clime, we all desire to be financially independent but many eat with their 10 fingers not minding what happens tomorrow. Alot of people have found themselves in a situation they least expect owning to their habits of living the NOW and forgetting there will actually be TOMORROW. Many people have failed to institute financial plan for themselves and it has lead them quickly to the gate of poverty. Lack of financial discipline is now a common bad habit in our society.

Bad financial habit as defined is a patterned behavior regarded as detrimental to one’s financial health or wellbeing.

As a student, you are so free with money all because you get your monthly allowance on a regular basis. As an employee, you have failed to stay in line with your budget because of an increase in pay or holiday bonus you just received from your boss. As a business man, an increase in profit or unexpected income has made you a spendthrift.

Perhaps, you just came across a pot of gold or received an inheritance/Baba God finally picked your Call & favored you with blessings and now spending extravagantly, allowing this to get into your head instead of investing your money in assets that will yield return for you in manifold, don’t be surprised what will happen in a matter of months because a fool and his money are easily parted.
Bad spending habit may be hard to break but you must make a resolution to do it now.

Here are three effective tips to guide you to financial discipline:

Budget- institute a financial plan for yourself. Creating an income and expense statement to project your income and expenses will help you gain control over your finances. You need to spend on paper before actually spending to know what is important to you. Make your budget as simple as possible.

Develop a saving culture- a lot of people believe you need to have much money before you can save but you really don’t need to wait till you have excess. You need to put some amount away for a rainy day no matter how much you’ve got. Saving money can be chore but will help you amass wealth and steer clear of debt.

Be frugal- being careful in spending every money you make doesn’t make you a scrooge. You should be able to acquire your needs in a restrained manner, avoiding extravagance. This is a trait of many millionaires. They are resourceful, they live a frugal lifestyle. They spend only on things that increase in value.
Avoid temptation to upgrade your status by spending on luxury cars, and underyielding properties.

I’ve decided to make these tips very few so that you can easily take the first step. You need to stop making purchases that impede your financial growth. It’s not the money, it’s what you do with the money that counts.
Live frugally, invest extravagantly. BE WISE IN YOUR SPENDING.

www.whirlwindonline.com/2016/02/06/superfluous-spending-a-sure-way-to-to-poverty