Show BABSON'S AUTHENTIC STATEMENT serer W Special to THE TUE EXPRESS BABSON CALLS FOR OR OLD OLD- OLD FASHIONED THRIFT Babson Park Mass It is amazing to me how many people today seem quite hap hap- happy happy py to live it up without any regard for their pocket pocket- pocketbooks books Our called so-called welfare state has made people take the problems of unemployment unemployment ment and old age security far too lightly When I talk to young people I find they are giving little or no thought to their financial futures The result is that they never acee acc acc- accumulate even the few dollars they need to start them along the road to sensible budge budge- budgeting ting and a program of successful investment Thrifty Men Come out Ahead My father I have never forgotten used to warn me that the man who spends less than he gets will bem be an em- em employer employer but the man who con con- constantly constantly spends all that he gets will always be an em em- employee The importance of saving my father insisted was in no way related to how much a man had or how must he brought home on payday He believed that a poor man who saved some some- something something thing was far than n a wealthy man who had no sy- sy system system stem of saving whatsoever I have often thought about my fathers father's words And I have noticed that partners in business and partners in mar mar- married marred red ried life Ufe always get along better when they have some cash in the bank A great many of lifes's trouble begin when bills come in arid and there is nothing to pay them with decided when I was still very young that I would ra- ra tell my dollars where to togo togo go than ask where they had gone I ABC of Independence Step number one in begin begin- beginning beginning ning an investment program is to set aside some of your income I every single week This involves budgeting re- re regularly regularly I and I putting first things first It is obvious for example that it itis I is better to pay the Uie grocer than the doctor even though I food costs may be fairly high Household labor costs and andI I I general ex expenses are a also Iso high today plus insurance taxes repairs etc But often often- oftentimes oftentimes times children or other memo mem bers of the family can help lessen expenses by doing more of the chores and or by bringing in some extra money from outside jobs My observations of present sent conditions indicate that a aman aloan man loan with a famIly of four bringing home earnings of alter after income and so- so social cial security taxes ought to try to hold h his living costs under 85 of f that total About 43 would go for food and c and 39 for housing hO and transportation I have said before and I still believe it is that true many families are paying too much for transportation This is particularly true of those in inthe inthe the lower income brackets Unless they buy more for forcash forcash cash and buy less on credit they will never get started on ona ona a sensible financial basis for forthe forthe the future Even with reasonable al allowances for benevolence and church and for personal and miscellaneous items there should still be at least 5 left for insurance savings ac- ac accounts accounts counts and investments or more specifically about I heartily advise you to put half this amount into life in- in insurance insurance and the other half in in- in into to savings Starting on such a tight budget I would definite definite- definitely ly not make any provisions at this time for speculative investment in- in investment vestment Start Budgeting Early in Life One of the most important things in a mans man's life is to learn early to bUdget and to save Failure allure to do this is re- re responsible responsible for the sad fact that close to 30 of the men 55 years old right now are not supporting self Most of them have made enough money be be- between tween the ages of 30 and 50 to keep themselves and their families in comparative ease for life if they had only fob fol- followed lowed a definite plan of sav sav- ing It seems senseless to me meto meto to work the best part of life to earn a few dollars if these dollars are going to earn nothing for you after after- afterward afterward ward by y way of labor and sav saving 1 g is important capital built up Those who consume less than they produce can turn their surplus back into productive channels that will increase the nations nation's wealth Investments of various sorts including bank deposits can build up independence for you and educate your child child- children ren In addition savings pro pro- provide provide vide the capital for commerce and industry to generate new productive facilities and thus open new employment |