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The Art of Money - Getting or Golden Rules for Making Money

income of so much, and here is my neighbor who has the same; yet every
year he gets something ahead and I fall short; why is it? I know all
about economy." He thinks he does, but he does not. There are men who
think that economy consists in saving cheese-parings and candle-ends, in
cutting off two pence from the laundress' bill and doing all sorts of
little, mean, dirty things. Economy is not meanness. The misfortune is,
also, that this class of persons let their economy apply in only one
direction. They fancy they are so wonderfully economical in saving a
half-penny where they ought to spend twopence, that they think they can
afford to squander in other directions. A few years ago, before kerosene
oil was discovered or thought of, one might stop overnight at almost any
farmer's house in the agricultural districts and get a very good supper,
but after supper he might attempt to read in the sitting-room, and would
find it impossible with the inefficient light of one candle. The
hostess, seeing his dilemma, would say: "It is rather difficult to read
here evenings; the proverb says 'you must have a ship at sea in order to
be able to burn two candles at once; we never have an extra candle
except on extra occasions." These extra occasions occur, perhaps, twice
a year. In this way the good woman saves five, six, or ten dollars in
that time: but the information which might be derived from having the
extra light would, of course, far outweigh a ton of candles.
But the trouble does not end here. Feeling that she is so economical in
tallow candies, she thinks she can afford to go frequently to the
village and spend twenty or thirty dollars for ribbons and furbelows,
many of which are not necessary. This false connote may frequently be
seen in men of business, and in those instances it often runs to
writing-paper. You find good businessmen who save all the old envelopes
and scraps, and would not tear a new sheet of paper, if they could avoid
it, for the world. This is all very well; they may in this way save five
or ten dollars a year, but being so economical (only in note paper),
they think they can afford to waste time; to have expensive parties, and
to drive their carriages. This is an illustration of' Dr. Franklin's
"saving at the spigot and wasting at the bung-hole;" "penny wise and
pound foolish." Punch in speaking of this "one idea" class of people
says "they are like the man who bought a penny herring for his family's
dinner and then hired a coach and four to take it home." I never knew a
man to succeed by practising this kind of economy.
True economy consists in always making the income exceed the out-go.
Wear the old clothes a little longer if necessary; dispense with the new
pair of gloves; mend the old dress: live on plainer food if need be; so
that, under all circumstances, unless some unforeseen accident occurs,
there will be a margin in favor of the income. A penny here, and a
dollar there, placed at interest, goes on accumulating, and in this way
the desired result is attained. It requires some training, perhaps, to
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