Personal Discipline
Personal discipline. Do you have it? Or do you lack it?
Signs of personal discipline in personal financial management:
- Waiting at least overnight before making a large purchase decision
- Balanced checkbook
- Monthly spending plan
- Saving every paycheck
- Giving every paycheck
- Organized financial documents - including insurance EOBs
- Credit cards paid off in full every month
- Regularly obtain credit report to ensure it is accurate
- Married couples - both know where the money goes and how much they have saved
- Singles - established accountability
Signs of poor personal discipline:
- Overdrafts
- Disorganized records
- Late payments
- Credit cards balances not paid off every month
- Spouses not working together
- Impulsive spending decisions
- Little or no saved money
- No giving
What would you add to either list?
It got me thinking, Who really pays the price when we make BAD financial decisions?
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