Posts Tagged ‘source’

The willingness to accept responsibility for one’s own life is the source from which self-respect springs.” -Joan Didion

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Saving… is deferred consumption.” -Gregory Bresiger

“Saving, ultimately, is consumption.  By setting aside some resources for meeting financial consumption needs, we invest them.” –Detlev S. Schlichter

The private reserve strategy initially provides a build up in savings, but it also produces a higher ability to consume.  By delaying consumption, one not only builds a base of capital for purchases, but saves interest payments to an outside source.  This savings is additional capital to use for various purposes.

“Self-reliance is the great source of personal power.  We create ourselves, shape our identity, and determine the course of our lives by what we are willing to take responsibility for.” -Alex Green