I had written on this topic in May also. Financial discipline is absolutely critical if you have to be able to come even close to getting financial freedom.

Our biggest problem with the education that is imparted to kids in India is that they are not given any training on financial matters. I know because I am part of the same problem.

I think its a similar problem in North America as you will notice from the amount of student debt and the lack of savings that exist for retirement for the baby boomers.

Sine we did not learn it in our 16 years of education we tend to have inertia to try and learn it. Anything where there’s inertia, the brain tends to put it back in the line, because it has to do more work to get into action.

The more urgent and easier things take precedence like a phone call from a customer or an email or one more meeting and the day gets over. And I am not preaching this. It happens to me all the time and it happened to me today again.

I was supposed to deposit money into my account for buying a stock whose deadline was today. But being the quarter end , there were supplier pressures, there were our own pressures for closing order bookings and this just slipped out of my mind.

Which brings me back to the basic problem for humans. If you leave it to your mind, chances are that it won’t happen. And for us middle class folks , this costs us dearly in the long run. Therefore I keep writing about ensuring money goes out of your bank automatically into whatever investment you target on a regular basis like a SIP (Systematic Investment Plan).

That’s the only way I have been able to bring in some kind of discipline into my financial life.

Till next time then.

Carpe Diem!!!