Around the home: finance
How to be a Good Wife (1933)
Advice on finance
- Don't waste hard earned money in the endeavour to keep up appearances.
- Do not be led into buying something that you do not want simply because it is cheap (!)
- Keep accounts.
- Don't neglect to pay your bills regularly.
- Do not rush into lavish expenditure that you really cannot afford.
- Do try always to be economical but don't let it develop into unnecessary pinching and saving.
- Don't expect to begin where our parents left off. Remember that their standard of comfort is the result of many years of labour and that a little hardship and struggle at the outset won't hurt you but make the easier time that comes later all the more pleasant.
- Claim your separate allowance and see that you don't exceed it.
Things haven't changed much since the 1930's when it comes to finances in the home. These are all still pretty relevant today as they were back then. Perhaps more so as people buy on credit cards and have much easier access to loans etc. A few rises in interest rates, as seen in the last week, can push a family to breaking point.
I have been trying to teach my son the importance of savings and making sure you have some for that "rainy day". He is learning this one quite quickly now that he has moved out of home. Children as young as 16 are now in debt, caused through mobile phone bills and credit cards (I wasn't even aware that a child of 16 could get a credit card!). Of the 21,900 Australians who declared bankrupt last year, 10% were aged between 15-24 and another 12% aged 25-29. Some of these teenagers have debts around $4,000 or more (even up to $14,000 to $20,000). That is of great worry. If teenagers are not being responsible with money, what will they be like when they get older?
I had to smile at number 2 as I fallen into this trap often, if it is on special then its worth buying, even if I don't really need it!! However when it comes to groceries, I will buy up on items that are on special (eg hair shampoo) and have a stock in the cupboard as big savings can be made.
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