The Abbeville press and banner. [volume] (Abbeville, S.C.) 1869-1924, 1909-06-16
THE ROAD TO FORTUNE.
The Gospel OF Saving Money Preached
to Deaf Young Ears.
From the Bookkeeper.

SNt $4,000
competency at the end of ten years
must make sacrifices for the first two
or three years. Say that you, for in
stance, arc earning $40 a week. At
the present time you may be spend
ing nearly all Of this, as thousands
of others are doing. Now, during the
first year. you must save $1,000.
Why" you eXclaim, IF | should
save $1,000 I year that would make
$4,000 at the end of ten years, with.
out counting the interest! You're
off IN your figuring
But wait. We are supposinG now
that you are having your share OF
prosperity and that at different times
within the next few years you. will
have doctors bills to pay and may
even be without employment at
times. These things must be taken
INTO consideration if you would save
$4,000 in ten years.
So the first year you save $1,000.
This leaves you a little less than S11
a week upon which to live during
that time Perhaps you will have to
move out of your present home and
rent one that is cheaper. For q time
1t will also be necessary for you tc
contract fewer tailoring bills, and in
all probability you will get your wife
to aid you in economizing; but you
must save $1,000 during that year
and you will find that you can do it.
In the second year your load will
econ lighter, and then you will see
why it was necessary for you to save
$1,000 during the first year. The
$1,000 you can easily place out at NV
per cent. interest and at the end OF
the second year it will have earned
O $50. So during this second year
you have to save only $3.50. In 9TH
er words, you have 81 a week more
to spend on the comforts Of life dur
ing the second year than the first. In
this way your load continues to get
lighter and lighter. You begin your
third rear with $4,000 out at interest.
and during this year need save only
5000, which leaves 50 a week more
TO spend than during the first year;
and so it goes until the end of your
! fifth year when you are saving only
$3.50 a year or less than one-half Of
your $3.50 salary. Each year you
have more to spend. At the end of
! your eighth year you are saving just
S12.5O a week, while you have $3.50
TO spend.
At the end of your tenth year you
have $4,000, which is earning you
$500 a year and which may even
bring you $500 or 500 a year if you
invest it we'll. II you were only thir-
ty years of age when you began saw
Ing you are still TOO young to retire
On $50 a month; but now o can
spend all that you earn, and at the
end of another ten years, if you do
not gather the "honey" which your
$4,000 is making for you, you will
be worth a little over $4,000, which
at six per cent. will bring you an in
come of SIS a month for the rest OF
your life.
A modification Of the above scheme
can be made to work to a profit OF
! any wage carer, no matter what his
weekly earnings may be, granting OF
course that they are sufficient to live
upon comfortably. Fpr instance, II
the man who earns SIS a week could
save ST a week for fourteen years he
would have acquired a little fortune
of s5096. This task of saving ST q
week out of SIS a week for I2S weeks
seems ~stupendous at first. but When
you figure it out carefully you will
sec that it is not so difficult after all.
In the first place. you would have
to saw 81 a week only for the first
a Just as the man who was work
ing for $4,000 had to save $1,000
for the, first y,car only. At the end OF
the first year you would have 1854.
Nv the end of the second year this
would have earned $500 at five per
cent, so that this year you would
need to save only S345.30 instead OF
1894, or 1855 a week. During the
third year you would have $73S
working for you, which at five per
cent. would earn S3G.40, leaving you
$3.50 to save each week after that
year. Figuring in this way, in the
beginning OF your sixth year you
would have to lay asids only $3.50
weekly; atthe beginning of the ninth
1920, AID at the beginning of your
twelfth, only s3.15. Yet at the end
of your fourteenth year o would
have saved owe: $4,000, which, prop
erly employed. would mean a great
deal to you in the years to come.