In the world we live in now, a lot of financial rascality has become the order of the day and this is seen to affect a lot of people including the young ones. Imagine when someone wants to spend more than what they earn, not even on something worthwhile but on riotous living, then know that the person is already headed for a big risk. For one to experience success, then there is a need for financial discipline. This includes proper and effective management of one's financial resources, so as to be able to hit one's goal. Here we shall take some of the major elements of financial discipline and how they are beneficial to an individual. ![pexels-lukas-590041.jpg](https://cdn.steemitimages.com/DQmULDQ3mEUqLSiHWpwtsYMttr7iUtfk5pAZr653P8AJnU4/pexels-lukas-590041.jpg) _{Image from [Pexels](https://www.pexels.com/photo/person-pointing-paper-line-graph-590041)} The first on that we will look at, which relates to everyone and also very crucial, is creating a budget. This is simply a way of making a list of what to spend your financial resources on, when to do it, how to do it, etc. This will help you to maintain financial discipline. You cannot effectively and efficiently allocate your money wisely without budgeting. It is by making budgets that you will differentiate your wants and needs, and then know what to focus more on, while making room for investments and savings. One thing to also know about budgeting is that it can change based on situations and circumstances, so it should be reviewed from time to time. Another element of financial discipline has to do with spending. In fact, if you want to know how financially disciplined someone is, then look at how they spend money - their expenditure. In order to be financially disciplined, you have to spend within your means, and avoid things that prompt you into undertaking impulse spending. A lot of people make a considerable amount of money without knowing what they do with it and how it vanishes, simply because they have not kept tabs of their spendings. You may not be earning as much as someone else is, but if you spend wisely, it will be enough for you. What you cannot afford normally at the moment, you do not have to put excessive stress and strain on your pocket to force yourself to afford it. More so, that someone else is living and spending in certain way does not mean that you should join them in their lifestyle. You do not know their financial abilities. If a farmer joins the people that are eating their fruits and decides to eat his own seeds, he will go very hungry when the time of harvest comes, because there will obviously be nothing to harvest. Do not consume your future on some temporary wants of the present. The next element of financial discipline is saving. If you spend and consume every single money that you earn, then you are not financially disciplined. In fact, it is a very big risk to have zero savings from what you earn. What if a financial demand arises, how will you settle it? As money comes into your hands, you need to set aside some parts of it to save for emergency, or even for investments. If you cannot save from what you are earning at the moment, then you may not be able to save even when you begin to earn higher. This is because saving is a habit; that you cultivate, and not what you do when you like. The benefits of savings are so numerous and as such, should be a lifestyle. In the face of unforseen challenges, it may be what you save today that will save you. ![20240130_220744.jpg](https://cdn.steemitimages.com/DQmdSGJ3hefa4q8BVz92oRucyqzTV717nmNxc2FiPLr5VUA/20240130_220744.jpg) _{Image from [Pexels](https://www.pexels.com/photo/black-wallet-with-dollar-banknotes-4386154)} The next point to consider as a way to be financially disciplined is investment. One of my mentors once said that "investment is like the seed you sow into the future." The truth is that everyone can actually invest but it depends on whether they choose to or not. From what you have, there are many things to invest in and watch your investment grow. But one thing you need to do before investing is to conduct your own research, so that you will not end up investing wrongly. As long as you are investing rightly and in the right way, with determination, discipline and commitment, it will be worthwhile in the not-so-distant future. ***Thanks for reading***

Peace on y'all

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