Have control over your money

Being in control so you can save money.

Self-control is a virtue. Or is it Patience is a virtue? I think it's patience but we'll go with self-control.

Learning self-control over money
Learning self control when it comes to money can be a painful lesson for some. But learning it will prove to be very significant in achieving your financial freedom. Possessing a sense of self-control will help you to resist the terrible "itch" to spend money the moment you are in possession of it.

This is a problem for many people. When money is available, they spend it. Impulse spending, as we discussed previously, is the downfall of budgets, relationships and savings. People fail to think of the future and indulge of the instant, yet, fleeting pleasure, of obtaining something new.



Your financial success starts with a conscious effort to find out where your money is going....lists of expenses, then allocation of your money.......the budget., and using self control to curb impulse spending.

How do we learn self control over money?
How do we learn self-control when it comes to money? Many of us have no role models for this, our parents may have relied on credit to provide many of the things we enjoyed as children. We can obtain easy credit at a young age, with no knowledge of how to manage it. We are told 'you deserve the best' and of course, the best cots money.  .

Here are a few quick tips to help you exercise your self control when it comes to impulsive buying and saving your money.

1.  Do not purchase items on impulse.  We went over this in the last post, but it so important, so it goes here too. Consider every purchase carefully.

2.  Identify your needs from your wants.  This was discussed in the last post too, but belongs here also.

3.   Make savings a goal. Pay money into your savings as soon as you get it.

4.  Do not shop when you are hungry or stressed.

5.  Leave the credit cards at home.

6.  Find a financial role model. 

7.  Join an online group of thrifty, like-minded people, to discuss ideas. Try a forum.

7. Pay bills on time. If this is not possible, contact the company to arrange a payment plan. Once your bills are paid, you will have clearer idea of what money is left over.

Ah self-control. 

Many people bemoan a lack of it, but by exercising yours, you can make it stronger and it will serve you well in your quest for financial freedom.