Sarah is a young professional with a decent job, good pay, and a passion for travel. Yet, despite her steady income, she always seems to be one step behind her financial goals. Her savings account? Barely growing. Credit repayment? Constantly lingering. Dreams of owning a property or taking that vacation? Forever postponed.
One rainy evening, Sarah stumbled upon an old journal where she had jotted down her dreams and aspirations years ago. As she flipped through the pages, she realised that many of her dreams were still just that—dreams. Why? What was holding her back? The answer, she soon discovered, was financial discipline.
The turning point
Determined to change her story and be financially disciplined so she can meet her goals and aspirations, Sarah began researching and implementing strategies to regain control of her finances. Here’s what she learned:
1. Budgeting: Doing it personally
Sarah started by creating a budget. She tracked every penny spent, from her morning Pancakes and fruit salads to her data bills. This helped her identify unnecessary expenses and redirect that money towards savings and debt repayment. (She became honest with herself and her spending habits).
2. Saving before spending
Sarah adopted the “pay yourself first” principle. Each payday, she automatically transferred a portion of her income into a savings account. This simple act ensured that her savings grew consistently and effortlessly.
3. No to impulse spending
Sarah often fell victim to impulse purchases—flashy sales and trendy items that drained her bank account. She started applying the 30-day rule: before making a non-essential purchase, she waited 30 days. Often, the urge to buy faded, and she saved more instead.
4. Not wallowing in debts
Easy access to credits had always been Sarah’s downfall. She realised this and got committed to paying off her balances in full each month and avoided taking on new loans and her debts shrunk.
5. Investing in the right firm
Sarah made research on the right financial firm with the best interest rates to help her grow her savings. She found the first-rated fintech firm, Credlanche, invested and waited for her savings to grow.
The result
Over time, Sarah noticed a transformation. Her savings actually grew and she felt a sense of control over her financial future. Financial discipline became a habit, not a chore, and she started achieving her dreams one by one.
Sarah’s story is a testament to the power of financial discipline. It’s not about depriving yourself but about making conscious choices that align with your goals. You too can be like Sarah and be financially disciplined to take charge of your future.
So, what’s holding you back? Step up your game towards financial discipline with us today, invest and watch your dreams unfold.
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Acknowledged thanks for reaching out
Thanks for this writeup, it’s an eye opener.