MAIN TEXT: Pro. 25:28
Whoever has no rule over his own spirit
Is like a city broken down, without walls. (Prov.25:28)
Self discipline is the ability to control one’s feelings and overcome one’s weaknesses. When applied to your finances, it becomes your ability to control your spendings and minimize the influence of external factors in your spendings. Financial self discipline is so important in marriage because without it, you may bring untold hardship and embarrassment to your family through uncontrolled expenses.
Many people don’t really have a mind of their own. If your friends are buying a particular item, you should not get carried away because however attractive the item is, it may not really be needful for you. Apart from not being so, you may not be able to afford it without it affecting other useful goals in your family at that particular time. The purpose of advertisement for instance is to make you to buy the products being advertised. If you are not self disciplined, advertisement can make you to buy what you don’t really need thereby making other areas of vital need in your family to suffer. Also, if you are not self disciplined, those who are selling things on credit can make you to purchase things that will put your family in the bondage of debt. When someone tries to persuade you to buy things on credit and pay gradually, don’t make the mistake of thinking the person cares for you, the main concern of that person is to sell his or her goods. It is by the time the person starts demanding for payment that you will realize that buying on credit is like putting yourself in bondage. If you are financially disciplined, you will always remember the following;
• Even when you can afford something, you should really ask yourself if you need the item. If you need it, can you afford it? If you need it and you can’t afford it, then you need to sit down and plan for other alternatives you have to forgo to have it.
• You are not competing with anyone, you don’t really have to be in vogue if you can’t afford it. For instance, your children don’t have to attend the private school that your friend’s children are attending if you really can’t afford it. There are other good but less expensive ones for your children.
• Impulsive purchases can jeopardize your family budget. Don’t buy things unplanned for just because it is available or because others are buying it.
• Don’t be excited when you are offered a loan. It is not a gift as it has to be paid back and with interest too. Many families are in serious problems because of loans that should not have been taken in the first place.
• When paying back loan, discipline yourself to pay back as and when due. When you don’t, there are grave implications that will enslave you even the more.
• The latest fashion today will be stale tomorrow. The latest car today will be obsolete tomorrow and they are usually so expensive.
• Think of alternative options when things are expensive. In most cases, there are alternative options which will still serve the same purpose.
• If you are not self disciplined about spending, it is only a matter of time before you bring your family into a big problem.
WHEN SOMEONE PERSUADES YOU TO BUY ON CREDIT AND PAY LATER, DON’T THINK THE PERSON CARES FOR YOU, HE ONLY WANTS TO COMMIT YOU TO DEBT. – Dr. Mike Oluniyi