The D Word

Words have the power to inspire. They also have the power to inspire fear. Like anything in life, it all depends on which way you choose to look at it.

One word that tends to get a bad press is ‘discipline’. If you look no further than the process of discipline, enthusiasm will be in short supply. If, though, you focus on the wonderful outcomes that discipline gives rise to, it’s difficult not to be inspired.

The Oxford English Dictionary defines discipline as ‘controlled behaviour’. Bringing discipline to bear on your money by controlling your day-to-day financial behaviour in the framework of a personal budget is, without doubt, the easiest and most-effective way to become financially better off.

The secret to success is to visualise the outcome you have set yourself (be it a debt-free existence, property ownership, a Hawaiian beach – or all three!) while, at the same time, enjoying the feeling of empowerment that comes with financial control.

Your starting point is to draw up a thorough inventory of your spending – from the daily latte right through to the annual car registration.

Your destination – in the form of that Hawaiian beach – though, is when financial discipline never felt so good. When there’s no going back. When you’re already beginning to focus on the next amazing outcome.

David Rankin is an author, public speaker and founder of the personal budgeting service Sort My Money. This article does not offer personal financial advice.