Personal Discipline

Personal discipline.  Do you have it?  Or do you lack it?

Signs of personal discipline in personal financial management:

  • Waiting at least overnight before making a large purchase decision
  • Balanced checkbook
  • Monthly spending plan
  • Saving every paycheck
  • Giving every paycheck
  • Organized financial documents – including insurance EOBs
  • Credit cards paid off in full every month
  • Regularly obtain credit report to ensure it is accurate
  • Married couples – both know where the money goes and how much they have saved
  • Singles – established accountability

Signs of poor personal discipline:

  • Overdrafts
  • Disorganized records
  • Late payments
  • Credit cards balances not paid off every month
  • Spouses not working together
  • Impulsive spending decisions
  • Little or no saved money
  • No giving

What would you add to either list?

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