Discipline & Killing Debt

What do dieting and attacking debt have in common? Discipline. It’s not a popular word but definitely necessary when attacking debt. You need to get focused with your money. Every dollar has to have a destination. Attacking your debt often means saying no to the ‘extras’ in life like eating out and vacations. Saying no to excess is a discipline. Deciding to live on less requires discipline. Deciding to live on a budget takes discipline. There will be days you don’t want to exercise. There will be days when you don’t want to cook a meal at home. You MUST be focused on the bottom line. You must be willing to sacrifice now to have more later. You must see the more confident future self that discipline produces in you. How motivated are you to put debt away? It’s much easier to get in debt than it is to get out. Be disciplined and you will be on your way to financial success.

How do you begin to show discipline with your money? Below are some tips to get you started.

  1. Live on a budget. You must have every dollar accounted for before you spend your first dollar. For a free budget resource, visit
  2. Save something. Begin small but save something. Just $25 a pay period is a start. You need to make Savings a line item in your budget. I recommend putting your savings in an online savings account like Ally or Capitalone360. A couple tips for beginning to save are: 1) When you pay off a debt, begin to set that money for savings; 2) Save your pay raise.
  3. Spend on Needs not Wants. You need to begin examining each purchase and ask yourself, “Is this a need or a want?” There will always be a better version (upgrade) of what you own. Just because a newer version exits doesn’t mean you have to buy it.
  4. Create your Debt Snowball. Simply put, this is a listing of all your debts from smallest to largest. Having this list in front of you can heighten your awareness for more discipline in your financial life.                                                                                    While discipline can be painful it is no doubt a necessary skill when it comes to winning with money. With any new skill you must start small and begin incremental growth. What money tip would you add when it comes to discipline and money?

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