Money Skill #27: Improve your discipline


"I count him braver who overcomes his desires, than him who conquers his enemies, for the hardest victory is the victory over self." -- Aristotle

Discipline basically refers to doing what you know you should do and not doing what you know you shouldn't do. As with your diet (not to speak of potential sexual delights!), there are many temptations to deviate >>>from the formulas and goals you've set for yourself. Lack of discipline can be a major reason for not achieving your goals.

To become more successful with money, you may need to develop your self-discipline, which begins with your thinking: Money Skill #1 and Money Skill #2. Develop the habit of observing your thoughts. Particularly if you find yourself tempted to deviate >>>from your chosen path, ask yourself: "What thoughts are trying to seduce or betray me?" If you find yourself actually having deviated, ask: "What thoughts preceded and led to my failure of discipline?" And don't put yourself down too much for having failed! Learn from your failures to prepare yourself for future success!

Improving your attitude -- Money Skill #42 -- could have a major effect on also improving your discipline. Fear and greed -- Money Skill #29 -- may interfere with discipline.

See also How to Develop Discipline to Become a Successful Investor.