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This Crucial Mindset Will Help You Conquer Your Personal Finances Healthy habits will follow a healthy mindset.

By Brian Tracy

entrepreneur daily

Opinions expressed by Entrepreneur contributors are their own.

In this video, Entrepreneur Network partner Brian Tracy emphasizes that self-discipline can be the solution to any financial problem, big or small.

If you're in financial trouble, evaluate the times when you find yourself wanting to make impulsive, momentarily gratifying purchases. Most times these habits are supplemented by loans and credit cards, which will only add to your personal debt and worries.

Tracy points out how, beginning with childhood and their first relationship with money, people become conditioned to want instant gratification from money. This is similiar to a child receiving an allowance and running to buy a candy bar ... followed by another and another. Many people act out this behavior later in life by constantly associating consumption with happiness.

Tracy says the start to financial independence is exercising self-discipline. If you are not naturally known for your self-discipline, you can adjust your mindset and soon see the positive impact of this thought process.

Click the video to hear more.

Related: The Best Way to Get Yourself Motivated for the Day

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Brian Tracy

Chairman and CEO of Brian Tracy International, Speaker and Author

Brian Tracy is chairman and CEO of Brian Tracy International. He is the leading coach on the topics of leadership, self-esteem, goals and success psychology. Learn more at BrianTracy.com

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