THE SQUEEZE-AND-SAVE STRATEGY

This plan is similar to squeeze-and-spend and also applies to retirees with modest incomes. It is specifically designed for those who enjoy saving more than spending and are happy building a nest egg. Splurging is not their style. They prefer to cover themselves with a security blanket of savings. Some go to extremes and deny themselves necessities like a proper diet. Spending money hurts these people, especially when they worry about inflation. 

I I Provides a feeling of financial security. Money in the bank provides peace of mind. 

I A motivating goal for some. Saving money is a reward in itself for some individuals. 

I Money available for emergencies. Provides a sense of independence no matter what happens. 

I Possibility of fewer friends. A few individuals are so motivated to save that they chase their friends away. They often turn down social events because of the cost. 

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