How to save for retirement when you are short on cash

Before you can save for retirement you must possessed four key characteristics: self-control, self-discipline, self-reliance, and self-worth.

YOU MUST HAVE SELF-CONTROL! What is self-control? Self-control is controlling or restraining oneself or one's actions, feelings, etc. For example, I set for myself a fixed budget of $3,500 a month for all my fixed expenses, miscellaneous expenses, and savings. Now, this is fixed, etched in stone, never to be changed; no exceptions! This simply means that no matter what, (my heart desires, or my children's desires, or my friends' desires), what can be considered an extra cost to my budget, I will not allow. In other words, I will not forgo this budget to satisfy any of the aforementioned. Here I set a clear boundary for myself!

YOU MUST HAVE SELF-DISCIPLINE! What is self-discipline? For me, self-discipline is being able to say "NO" to yourself. How is this possible? Okay, let us look at my $3,500 fixed-budget example again; except this time let me give you a little more detail about it. Okay, of the $3,500: $1,500 is fixed expenses, $500 is miscellaneous expenses, and $1,500 is for savings. Now, (focusing only on the portion that I set aside for my savings), we can all agree that this portion can be considered as "disposal' income; but I say to myself "NO" it is not, it's my savings. Therefore, you see I could have easily taken the attitude that this disposal' income is just that; meaningless and just spend it! Instead, I say to myself "NO" it means something, my future; and, therefore, I secure it. Here I tell myself "NO"!

YOU MUST BE SELF-RELIANT! What is self-reliance? It is simply relying on your own self or your own resources (in this case, money), not someone else's. This is very important! First of all, relying on someone else for anything is not good practice. You definitely should not gamble your future away by relying on someone else's. You must not say to yourself my parents or spouse or friend, etc will have my back. No, this is completely wrong. Instead, tell yourself that I will secure my own happiness, money, and my own peace of mind; yes, even my own retirement! I see so many retired senior citizens today, who are forced to work after their own expected retirement time. They are forced to once again rely on another job, because some of them were relying on someone else, or failed to plan well for their own retirement.

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