CHAPTER 37

IN the previous chapter I gave you a letter which was given to a young girl on her Commencement Day. Please be sure to read that one in connection with this, so that you will get the full import of this second letter, which went along with the first.

Here is Letter No. 2:

FOR MARY

June 25th, 1910

Believing that any person's income, whatever it may be, is not well managed unless each month shows an addition to a savings account, and Desiring you to realize that I am very anxious to have you manage your money well, that you may get out of it and out of your future life all the peace and happiness which comes from an income well managed,

Therefore I have decided to make you a special inducement to save money out of your regular allowance.

Here is the inducement:

First. If, at the end of one year, you have lived according to the terms of your allowance, and can show me in addition a savings account equal to ten per cent of your entire allowance for the year, I will give you a present of twenty-five dollars cash, to be used for anything you wish which does not happen to come within the terms of the allowance agreement. These savings amounting to ten per cent of your allowance must not be eked out by extra money presents which may come to you from relatives or friends.

Second. If, at the end of one year, you can show me a clear slate, no debts and no grievances against the size of your allowance, and in addition a savings bank account amounting to at least fifteen per cent of your entire allowance for the year, I will give you a cash present of fifty dollars, which you are to use exactly as you please. The saving of money is just as necessary as the paying of bills for the absolute necessities of life.

Here is a little item that will help you in managing your allowance.

When you get your allowance at the beginning of a week or month divide it into four allowances for yourself.

First. Set aside the amount of money you must spend for absolute necessities.

Second. Set aside the sum which you determine upon to add to your savings account.

Third. Set aside another sum to cover THE UNEXPECTED things which may crop up before your next pay day, such as extra expenses of visits or treats, charities, etc.

This division will leave you a fourth sum which you can conscientiously spend before your next pay day for things which are not necessaries, in case your fund for non-necessaries runs out before your next pay day.

Don't make the mistake of encroaching on your fund for The Unexpected until you have received your next allowance. Then when you divide up your next allowance you can add your left-over fund for The Unexpected to your new fund for the non- necessaries, and you will have a little extra to spend for all such things before your next pay day.

If you will practice this a few weeks or months you will find yourself getting into the spirit of it and thoroughly enjoying the sense of power and self- command which will come to you from managing money so as to have plenty at all times for any of The Unexpected things, with a steadily growing savings account in addition.

Later you will find yourself almost unconsciously dividing your income in this way so that you will never run short and will always have a savings account growing. Until this becomes a habit you will find it necessary to hold yourself religiously to your subdivisions of the allowance. Only by so doing can you quickly grow the habit — and the satisfaction which comes with the habit.

If, at the end of a year, I find that you have not only managed your allowance well, but that you have also managed your present stock of clothing well, I will increase your allowance and turn over to you more of your necessaries to buy. I would like to turn all your buying over to you, and give you an allowance sufficient to cover it, but I do not feel that I can afford to do it until you demonstrate step by step that you can really be trusted to manage money for your own well-being and happiness. Rest assured that the better you manage your allowance the more inclined I shall be to increase it and leave the responsibilities all to you.

It is possible that you will some day marry! Remember that this learning of the problem of managing your income will eliminate at least fifty per cent of the chances for friction between you and your husband. So in making a success of this managing of money you are already helping to build the harmonious home every girl desires and hopes to have. And the things which you could get for your home with your money savings are only a drop in the bucket compared with the solid satisfaction and capable management which you could put into making that home an ideal one.

Signed, _________________________________________

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