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Everyone seems to think that we do not make enough money, when in reality, you just need to have discipline.

We know this is not always a piece of cake. Yet it is crucial skill when it comes to financial success. The thing is — regardless of if you make $20,000 a year or $2 Million a year, if you do not know how to have discipline when spending your money, you will end up losing it.

Movie stars have gone from rich to broke from a lack of discipline when it comes to their money. And vice-versa — poor people have become rich from applying discipline when spending their money.

The first thing to remember is that it is not how much money we make, it is what we do with the money that makes all the difference. Money that works for you, is much better than ‘lazy’ money, that sits around waiting to be spent on useless things.

How do we make our money work for us?

Well, wouldn’t hurt to look at investing some funds. A small amount of perhaps $20 a week is a good way to get started for a low income earner.

Another good way to get started on your “I have discipline when it comes to money” journey, is to make a list with three columns:

  • Needs
  • Wants
  • Nice to haves / Ultimate Luxuries

Things that are absolute necessities are to go into the needs column. That includes rent, fuel, groceries & pesky bills. Wants are things such as new clothes, shoes & takeout food.  And nice to haves are the rewards we treat ourselves to such as holidays, or a new car.

Once you have worked this out you will be able to move your money around accordingly. Make sure your needs column is covered. The overflow can go into your wants savings and treat yourself perhaps once a month to a want. Keep the balance. Save for the nice to haves. And any money you get from annual bonus, birthday gifts or tax refunds, use it to pay down any high interest balances on credit cards, store cards and/or personal loans. Use either the debt stacking method or the snowball strategy for this.

There are quite a few strategies for financial success and disciple out there, so the best thing to do is to read up, find as much information as you need and apply to your financial situation.

I have included a few below that may peak your interest.

10 Poor Money Habits

Best Personal Finance Books About Money

Written by Kristy Thomas