Charlevoix county herald. (East Jordan, Mich.) 189?-1953, 1915-12-25
HOLD FAST TO
WHAT YOU HAVE
Being a Brief Little Talk on
Thrift.

II there is anything more pathetic
than the man who never had a home,
or friends, or money, it is the man who
had home and did not appreciate it;
friends and couldn't keep them; money
and lost it.
The world is full of derelicts, and
every town has its "has beens" who
once "were"-had and could not keep.
1t is sad commentary on human life
that men must work and sacrifice and
save; practice thrift for years; accumu-
late competence, and for one reason
or another lose it all, and begin over
again worse by far, except for the ex-
perisnce.
Men who were once citizens Of
affluence will be found in the bread
line, sleeping in the parks at night, liv-
ing on relatives, in the poorhouse, sell
ing shoestrings on Broadway, when by
better management they might have
been in comfortable circumstances.
There are two principal reasons why
men lose what they have acquired:
First, by being an "easy mark, lend
ing to friends and relatives and unable
to say mo" to request for help or an
alluring proposition. Second, the de-
sire to make money fast-not by gam
bling, but by trying to get large in
come from small principal. The
stories Of men who have acquired con-
siderable money, and in the desire to
make it grow fast have lost it all would
fill book, and no caution is more
opportune than this: Hold fast to what
you have.
A few basic and common-sense rules
will, if persistently followed, save those
who heed them many pang Of regret:
First: Do not lend your friends.
Friendship loans are bad; it is a deli
cate matter to ask for your money.
Second: Never endorse q note for
anybody. More losses and business
disasters have come about through
lending ones name to promissory notes
than perhaps any single cause. II you
want to help friend and have the
money to spare better make gift out
right and forget it than try to deceive
yourself that it is loan. II you can't
keep your friends without lending
them money better lose them; friends
are easier made than money. -
Third Put your money in q good
bank and leave it there. Experience
has proven that the average man can
do no better than bank his money, for
in making private investments risk
attends and loss often follows. There
are thousands of good banks, and one
is no doubt in your town, and bank
books are mighty good investments.
Fourth: If you accumulate enough
to warrant private investment be salts
fled with five per cent, and never aim
to get more than six. Danger lies be-
yond six per cent.
Fifth: Experience has again proven
the country over that first mortgage on
improved property at not over so per
cent of fair market value is the most
satisfactory form of investment and
yields the highest returns compatible
with salty. Savings banks specialize
in mortgage loans, and you can follow
their lead with salty.
Sixth: Before making any invest.
ment, ask your banker il it is legal for
him and il he would make it; and il
not legal question it carefully, and il
he turns it down refuse it.
Seventh: Never buy land you have
not seen. Millions have been lost In
buying lots on the installmsnt plan,
particularly in large cities. The pro-
moter will make the profit, not you.
These rules are simple, safe and
easily followed. You won't 90 wrong
il you heed them. They come out of
bitter experience, and why should you
pay the same price for knowledge other
men have paid? Get all you can
honestly, and keep it when once 1t is
yours.