FINANCIAL DISCIPLINE

1.It has been appropriately said that one should limit his needs as per availability of funds.Due to over indulgence people are getting trapped in a financial debt trap and thus are always prone to financial difficulties.

2.A similar situation occured with me where I overspent during my leave for my wife jewellery and as a net result my main account was blank and subsidiary account(SBI) refused to let me draw funds as it was an outstation account and it refused to accept my ATM card as my account had lied dormant for a month plus and thus it required manual operation from account branch to activate my ATM card. So be wary of SBI cards as this feature of autolocking of your ATM card is inherent in SBI cards.

3.Now to add to my ignomity my salary cheque was not credited by oversight of ICICI as my pay is credited electronically and thus I was without funds and I had to proceed outstation after expiry of leave.So I thought to take an overdraft/draw cash through Credit card cash limit,but my parents came to my rescue as my 'MAN FRIDAY' who lent me requisite cash.

4.So adequate financial discipline allows one to avoid tricky financial messes and also develops your financial discipline in your children too as a child learns behaviours from his parents only.