Using self-control to increase wealth
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.