Do you know why self-discipline is the key to becoming a good saver? Many people want to talk about disciplining themselves, yet some will not tell you how challenging it can be.
Yes, self-discipline can be a difficult task, but it is often that way at the start. You will get to a point where it becomes a part of you as you begin to enjoy the benefits that come with it. I believe Daniel Goldstein had a similar understanding when he said, and I quote, “I think self-discipline is something, it’s like a muscle. The more you exercise it, the stronger it gets.”
In this article, we will consider an important aspect of self-discipline in making you a good saver, and I will be answering why it is the key. But before that, let us consider what self-discipline means, and why it is important.
What Does Self-discipline Mean?
From my childhood, the idea that comes with discipline is often about punishing someone for a wrongdoing. I remember that scriptural saying, Spare the rod, spoil the child. But I grew up to understand discipline in a different and, I would say, moderate way, having much more to do with training than caning.
Discipline is the practice of obedience or training to abide by the established rules. It involves submission to instructions, order, and control. It can be seen as a form of punishment, but it is different from using a rod to hit the butts.
Self-discipline is a person setting the rules and submitting themselves to them in obedience to them. It is the exercise of self-restraint, self-denial, and self-control to achieve a short-term or long-term goal.
According to Kierra C.T. Banks, “Discipline is the highest form of self-love,” and I agree one hundred percent with myself.
There are different types of self-discipline, including active discipline, reactive discipline, preventive discipline, financial discipline, structural discipline, and expansive discipline, to mention a few. It all boils down to what you want to achieve, how you want to achieve it, and what you should or should not do in the process.
The point of self-discipline is to ensure that you reach your set goals and desired end. Therefore, you persist in the journey of your life, not letting anything hold you back.
Why Self-discipline Is Important
There are several reasons why self-discipline is important. Imagine that you want to get something done in a couple of days. You will need to get two things ready: yourself and the things you need to get the job done. If you are not disciplined, you may end up procrastinating the process.
Let me share with you in detail some of the importance of self-discipline, including:
1. It enables you to make the right decisions and get things done. Take, for instance, the food you eat, the clothes you wear, and the activities you are involved in. Self-discipline helps you eat adequately, dress moderately, and do regular exercises. These and others are some of the right choices that come with a disciplined mind and body.
2. It allows you to focus on things that matter, including your goals and ambitions. When you set a goal you want to achieve, self-discipline will be instrumental in making you persist until you achieve your desired result.
3. Self-discipline fosters better academic success. According to this study from Perspective Psych Sci, it is believed to predict better academic success compared to IQ. I can agree to that because those who discipline themselves are likely to outperform those who do not.
4. Self-discipline aids continuity. An important component, also known as a pillar of self-discipline, is persistence. Persistence is a key to industrialization, and you can only find it in someone who has self-discipline. Disciplining oneself builds the spirit of persistence in them.
5. Self-discipline helps to build self-esteem. In a recent article, we looked at self-esteem and how to fix low self-esteem. Here is the thing: if you focus on discipline with other things, you will feel better and see yourself in a better light as a strong, determined, and powerful person.
If you want to go far with self-discipline, you have to be intentional and strategic. Set goals, write them down, plan how you want to go about them, and passionately pursue them. Take into cognizance the five pillars of self-discipline: acceptance, willpower, hard work, industry, and persistence.
Why Is Self-discipline The Key To Becoming A Good Saver?
Considering all that we have discussed, I want to ask a question: Is self-discipline the key to becoming a good saver? The answer is Yes, it is. Why?
Let us begin with who a good saver is. A good saver is not just a saver but a goal-driven saver. He or she spends less than they earn and keeps track of their spending habits while saving. They are known as successful savers or investors.
Becoming a good saver involves setting financial goals, spending and savings planning, and implementing them. Often, this works in the long term, and the key to staying on board is self-discipline.
Self-discipline is the key to becoming a good saver because it helps you make the right decisions, including goal setting, planning, and implementation. It also enables you to persist toward the success of your financial, and long-term goals while taming your desires and subduing your gratification.
