The resulting subtraction from your present enjoyment will be more than compensated by gains in long-term security. Commit yourself to save regularly in order to create a margin of safety. Accumulated resources will allow you to face calmly any disaster that the future may bring.
A man who feels confident and serene makes more of his days than an anxious short-term thinker. Too many are those who live under the threat of a mounting pile of debt. They are paying a high price for giving away their independence in exchange for momentary pleasure.
Do not fall prey to the delusion of stability. Reduce your current cost of living and create a financial reserve for difficult times because, sooner or later, they will come. If you are undecided about what expenditures to cut, make a linear reduction of 5% in all your budgets and take it from there.
To be continued in Part 6
[Text: http://johnvespasian.blogspot.com]
[Image by Olof S under Creative Commons Attribution License. See the license terms under http://creativecommons.org/licenses/by/3.0/us]
