Money management isn’t exactly dinner-table talk for most of us. But if you’ve ever ended the month wondering “Where did all my money go?”, you’re not alone. That’s where financial discipline steps in.
In a recent conversation with Shark Tank’s Ritesh Agarwal, MasterChef Ranveer Brar revealed that he “learnt financial discipline after his restaurant failed”.
“The problems with restaurants is that there are so many chances of losing that financial discipline that one cannot control it. There are so many places that a tap can start leaking that you sort of you lose your way. You have to build a restaurant business. The investment is not just when the restaurant opens, you have to keep investing till it starts making money. And a lot of investment mindset is, we have opened it, now make money,” he shared with the host.
Mukesh Pandey, Director of Rupyaa Paisa said that financial discipline is the ability to make sound financial decisions-and always to be within budgets, avoid impulsive spending so that all the while, one is steadily moving toward set goals. “Practicing financial discipline is not coming up with ways to save money but creating certain habits that consolidate one’s position in terms of finance, increase it, or keep that person secure,” he said.
He suggested five practical ways that I feel are best to build and maintain financial discipline:
Setting short- or long-term goals gives you a direction of your financial decisions. For example, if an emergency fund needs to be built or repay loans or set aside money for retirement, each rupee earned or spent will have definition and purpose when clearly articulated goals are stated.
Rayan Malhotra, CEO, Neofinity suggested Defining your ‘Enough Number’. “Revisit it every quarter. How much is truly enough to live well today? Not for your imaginary future self on a yacht. For you—now. Growth without grounding becomes greed. This number isn’t a goal. It’s an anchor,” he said.
The backbone of financial discipline is . It portrays how money flows into and out of the house, showing how unnecessary expenditures can starve essentials such as those for education. Budgeting apps or spreadsheets can probably give greater visibility and control over a .
“Only buy it if you can buy it twice. If you can afford it once, you’re surviving it. If you can afford it twice, you’re choosing it. This isn’t about being frugal—it’s about creating margin. A gap between impulse and intention,” said Malhotra.
That is why financially disciplined people will delay gratification, evaluate the real necessity and future impact before even indulging in buying that non-essential item.
Automated savings and investments have helped keep that streak of financial consistency while reducing the temptation for the diversion of excess funds into discretionary spending. Systematic Investment Plans (SIPs), recurring deposit facilities, and auto debits for savings accounts are some tools available as effective means.
Discipline is not a one-time act-it demands persistent commitment. Regular reviews of the progress of your financial plan allow its reference to other changes in income, new goals that have been set, or even economic conditions. It strengthens accountability and preparedness.
Malhotra also suggested tracking transactions not just by amount—but by emotional cost. Regret is expensive. Alignment is rich.
Financial discipline should not be seen as denial of every fun thing; it’s about ensuring that all spending is aligned with priorities and aspirations. listed down some money mantras to swear by:
