The Ely miner. [volume] (Ely, Minn.) 1895-1986, 1916-09-22
TALKS ON THRIFT

prizes lOT Guc luOSI SCuSlUiC pldu
of saving as applied to the man.
agement of household, where
the income does not exceed $15U
month. A large number of plans
were submitted by persons in all
walks of life, a reading of which
leads to the conclusion that there
are lot of level-headed people
getting somewhere by good man
agement and definite plans OF liv-
ing. A perusal of these answers
would seem to justify the follow
ing conclusions:
First, that the only method of
saving that proves practical and
permanent is the adoption OF a
well defined plan. This means a
scheme of living that provides for
the various expenses Incidental to
rearing a family, such as rent
food, fuel and light, clothing, re-
creation, education, etc. No one
gets any where in particular by
chit and miss" method Of life.
This is the reason so many peO-
pie are living next door to poverty
all the time. Any plan of life to
be successful must include the de-
termination to save, and II pos
sible, definite amount as mini
mum. The determination with
out plan accomplishes but little.
Second, that the wife is the saw
ing element in the household. AS
a rule the man earns the money
and the wife spends it. To her is
entrusted the buying of supplies,
the care of the children, their
clothes and spending money. Even
though the husband pays the bills,
his wife contracts them. She has
time to shop and he has not.
Third, the most workable plan is
as follows: Apportion the income.
There are certain fixed charges
in every home, such as rent,
clothing and food. 1t is well set
tied that rent should not exceed
one quarter of the income "a
week. wage for a months rent. :"
If it is larger it is out of proper
ton and is extravagant. You
cannot live on Fifth avenue with
a Third avenue income. The
greatest extravagances are pos
sible in the line of food and here
the wife can do her best work.
The cost of clothing can be fairly
well estimated from experience.
Educational expenses can be fig
ured with safety, and recreation
can be kept within bounds. The
doctor and dentist may be uncer-
tain quantities at times yet these
need not be excessive burdens ,sas
general rule. An apportion-
ment should be made for life in
surance and the savings bank, no
matter how small the latter may
be. A great many people set
aside a definite amount for each
class of expenditures and try at
least to keep within the appropri-
alton.
Practically every competitor in
the contest confessed that they
started their financial success with
savings bank account. 1t was
small in many cases, but grew
steadily. The man who starts out
to save will astonish even himself
with the results he never antici-
pated. It is the small steady saw
ings that count.
Some people divide the weekly
wage into parts, setting aside
enough for each class of expendi-
ture, while others make the APP
portionment and keep an expense
account as guide to determine
how they keep within or exceed
their allotment.
To pay each bill out of its par
ticular compartment in the family
cash box is sometimes impossible,
and the simple and effective way
is to merely keep an expense re-
cord, and if the expenditures ex-
ceed the expectation, curtailment
or readjustment is in order.
Lastly, many who have acquired
property have done so through the
medium of debt incurred d help
full debt, such as mortgage,
building and loan shares, install
ment home buying, etc. But look
out in mourning such obligations
that they be within your powers
to fulfill, and the values conser-
vative. Don't hitch up to more
than you can pull.
The marvel in such experiences
is not that these people saved a
considerable sum, but that they
saved at all. 1t was all the result
of planning, willing, sacrificing
the little things to have the
greater ones, elimination of waste,
foresight, good judgement, set
ting a course and steering by it,
making resolutions to keep and
not to break, and being firm with
ones self, but not parsimonious.
Thrift is getting a habit and keep