Satisfying self-discipline

Did you resolve this year to live more frugally?  Finding it difficult already?

At a yoga class last week, our instructor left us with this message to encourage at-home practice throughout the week:

Discipline means remembering what you really want.

I thought that this idea was perfectly relevant to staying on a budget. Discipline, when applied to budgeting, or any other goal, should not be an exercise of self-punishment or deprivation.  Far from that.  In fact, discipline should be used to continually remind yourself of what is important to you, and be used to make choices that help you achieve that reality which you truly crave.

To help you achieve discipline towards your financial goals, I have come up with five ways to help keep you motivated and on track.

1.  Decide what you truly want for yourself.  If you have drawn up a tight budget without thinking about what kind of a world you hope to create for yourself, you may have little motivation to actually get there.  If your goal is to get out of debt, decide what being debt-free means to you.  Think about what you want - a better relationship with your spouse, more fun in your life, the ability to afford a vacation or even just fresh flowers every week. Imagine in detail what kind of a lifestyle you want to create for yourself that can be obtained by changing your financial habits.

2. Visualize your goals and make them real by creating visual representations through collages.  Use scrap magazines to cut-out pictures of the things you wish to feel, do, or have that will be made possible by your new financial plans.

3.  Calculate the long-term impact of your short-term savings. If you are cutting back your spending, make the effects real by calculating the savings over a longer period of time.  You will realize that avoiding small purchases can add up to big savings.  If you spend $10 on lunch and coffee every work day, you’re spending $2600 a year.  What does that $2600 mean to you? A trip to Europe? Imagine what you will do with your savings and actively remind yourself that these little sacrifices add up to big rewards.

4. Don’t say “no” - just say “no for now.”  If you’re in a store itching to buy something, allow yourself just 24 hours to think it over.  It won’t feel like deprivation because you’re not saying no - you’re just giving yourself time to decide.  After you’re home, you will probably realize that life goes on without that new “thing” you wanted to buy and that you don’t really need it after all.  Or even more likely, you’ll forget all about it. 

5. Boost your spirits. If you’re feeling isolated because you can’t afford all the exciting activities your richer (or less responsible) friends are planning, or start to feel deprived, do something nice for yourself.  Plan a spend-free get together with friends.  Yes, you can do the old “pot-luck” stand by, but you can also plan a board-games night, a knitting night, a winter ice-skate or hike, or a chat session over a pot of coffee and cookies.  Or treat yourself to something small - some new bubble bath, a book from the library; even a cute new pair of undies or PJs can go a long way in lifting your spirits for under $10.

What is your favourite way of keeping yourself motivated and disciplined?