In the excerpt, the word "postponement" refers to the act of delaying or putting off something. The words that provide the context clue for the meaning of postponement are "thinking about shaving the moustache off" and "Another discovery: You can build a way of life on postponement."

Yes, you are correct. The phrase "thinking about shaving the moustache off" indicates that the narrator is considering delaying or putting off the action of shaving their mustache. The phrase "Another discovery: You can build a way of life on postponement" further supports the definition of postponement as delaying or putting off actions or decisions.

To determine the meaning of the word "postponement" in the given excerpt, we can use context clues. Context clues are hints or information provided in the surrounding words or sentences that help us understand the meaning of an unfamiliar word.

In this case, we have two phrases that provide context clues: "thinking about shaving the mustache off" and "Another discovery: You can build a way of life on postponement."

From these clues, we can infer that "thinking about shaving the mustache off" suggests a desire or intention to change one's appearance. This implies that the speaker considers making a change but opts for delay or putting it off.

Furthermore, the phrase "You can build a way of life on postponement" indicates that the speaker sees postponement as a strategy or approach to life. This suggests that the act of delaying or putting off something, represented by "postponement," is a central concept in the excerpt.

Therefore, based on the context clues, we can conclude that in this excerpt, "postponement" refers to the act of delaying or putting off something.