TIPs to inculcate Financial discipline

1. Prepare a monthly spending budget and stick to it.

2. Invest with a goal. Goals give direction and help you in selecting right product.
3. Avoid loans for your desires. Better do a financial planning check before going in for a big
purchase.
4. Invest monthly to become regularise in your savings and this will also help you maintain
consistency.
5. Motivate yourself by visualising the goals and the end result for which you are working
for.
6. Pamper yourself. Give yourself a party/vacation or whatever you feel like when you
achieve your savings/spending target. But please make sure to do this provisioning in your
monthly budget. After all your efforts should be properly rewarded.
7. Penalise yourself if you stop your investments before target date or spend more than what
you have budgeted for. Your penalty can be not having any dine out in that particular
month.
8. Be accountable to someone. Both spouses can keep a check on each other on the spending
habits.
9. Take help of financial planner where ever you require. They can be a good source of
support.
10. If your credit cards are bothering you and coming in the way of being disciplined …get rid
of them.
11. Take review of the situations after a set period.