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Using self-control to increase wealth

self control

Self-control is defined as the ability to regulate behavioural, emotional, and attentional impulses to achieve long-term goals.

Self-control early in life is a strong predictor of life outcomes. Great self-control throughout our lives will also help us grow wealth and take control of our personal finances.

How to use self-control to better your financial position;

  • Pay off your credit card in time each month to build a good credit rating.
  • Do not spend money you don’t have.
  • Use a debit card for daily purchases rather than paying interest through a credit card.
  • Use a budget planner to figure out what you need to spend money on and what you can cut out.
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