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True generosity means that giving must not drain you in the process.
This is not about becoming selfish.
It is about caring about yourself as much as you care about others.
Not less, Orman said.
Here are three ways getting strict with your money is the best gift you could give yourself.
In contrast, here are signs you are too strict with your money.
It Can Boost Your Retirement Savings
Its natural for most parents to want to help their children.
However, Orman posed a thought to call that into question.
Do you support adult children when it means you are falling behind on your retirement savings?
The question is fair when looking at the state ofretirement savingsfor many Americans.
Orman argued Americans need to be more thoughtful when making giving decisions.
But thats only half the story.
True generosity means that giving must not drain you in the process, Orman said.
After all, there are no loans for retirement.
Rather than give at first blush, consider diverting those funds elsewhere.
Do you give money to others when it means depleting your savings?
If thats your situation, Orman argued that saying no is being generous to yourself.
The state of many Americans ability to manage emergencies backs up the point.
It Can Help Reduce Credit Card Debt
Orman has long contended against amassing debt.
In anotherblog postOrman argued Americans arent powerless against credit card debt.
High-interest debt can be suffocating.
It pays to eliminate that before giving of your resources.
Not giving may seem unloving, but its important to show love towards your finances.
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