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Getting Your Money's Worth. A Book On Expenditure | by Isabel Ely Lord



The purpose of this book is intensely practical. From long experience in the School of Household Science and Arts of Pratt Institute, where thousands of women have come for help in all phases of their homemaking problems, and from experience with many other women, young and old, earning a money income or sharing in a marriage partnership, I have learned that one great obstacle in planning expenditure - in budget making - is lack of knowledge of the mere mechanics of it. To those inexperienced in financial record it looks like a complicated and a formidable undertaking, whereas it is neither if approached and carried out in the right way

TitleGetting Your Money's Worth. A Book On Expenditure
AuthorIsabel Ely Lord
PublisherHarcourt, Brace And Company, Inc.
Year1922
Copyright1922, By Harcourt, Brace And Company, Inc
AmazonGetting Your Money's Worth: A Book On Expenditure

Getting Your Money's Worth. A Book On Expenditure

By Isabel Ely Lord

1910-20 Director, School of Household Science and Arts, Pratt Institute

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New York

Harcourt, Brace And Company

Copyright, 1922, By Harcourt, Brace And Company, Inc.

Printed In The U. S. A. By

The Quinn & Boden Company

Rahway. N. J.

To My Mother who has always been my best teacher as well as my best friend

-Preface
The purpose of this book is intensely practical. From long experience in the School of Household Science and Arts of Pratt Institute, where thousands of women have come for help in all phases of their...
-I. What A Budget Is
A budget is the detailed plan of the use of resources, and the word generally used to mean money resources only. No intelligent person thinks of beginning a piece of work, whether it is the building o...
-What A Budget Is. Continued
Obviously, under ordinary circumstances, the family or the individual should live within the income, but if health makes a call on savings or even requires borrowing, then health, not savings, and not...
-II. Who Makes The Family Budget?
The family is a cooperative group at the foundation of our social structure. There must be kinship in this group. When the kinship is of mind and spirit only, as with a group of friends, the family ma...
-III. When And How To Make It
To those who have never made a budget and have never kept accounts the problem often seems at first thought so difficult a one that many decide that they have no basis for budget making and must there...
-When And How To Make It. Continued
A mortgage on real estate owned may appear in Liabilities or may show in Assets, being deducted from the money value of the property before this is listed. It makes no difference which method is chose...
-Budget And Account Headings
Food Clothing Shelter Operating Expenses Higher Life Personal Expenses Miscellaneous Subheads for Accounts Only Allowances (children) Automobile Care of House Outside Flo...
-Budget And Account Headings. Continued
When there is a figure opposite each item, the first test comes. The addition of all the figures will in eight cases out of ten make a larger sum than the income! That is a natural result of the natur...
-IV. The Big Items
The money spent for food, clothing and the house - under the two headings of Rent and Care of House - takes the bulk of the money of any but a very unusual budget. The item of Service is very heavy in...
-The Big Items. Part 2
Clothing. This is one of the most difficult items of the budget, not in making a decision as to the amount to be spent, but in using the amount to the best advantage. The primary purpose of clothing i...
-The Big Items. Part 3
Silk undergarments and silk stockings - any silk coming in constant contact with the body - should be washed after every wearing, otherwise the body soil will in some degree rot the silk. If this rule...
-The Big Items. Part 4
The variation in value-for-cost in the Clothing budget is evidently the greatest among the budget items. And since the right or the pleasing clothing makes a great difference in the comfort of most pe...
-V. The Lesser Items
Allowances (children). Another chapter deals with the advisability of this heading. As this is definitely budgeted, the recording on the accounts is simple, and it is done in detail only to keep check...
-The Lesser Items. Part 2
Then, too, is one able to enjoy the real luxury of giving. Few men and women, and fewer children do not wish to help those who are less fortunate than themselves, and do not feel that a certain part o...
-The Lesser Items. Part 3
Insurance. As already stated, fire insurance on house is charged with the other costs of the house under Rent, that for household equipment and clothing under Care of House and Clothing-Accessories. I...
-The Lesser Items. Part 4
Postage (Letter). This item is commonly classed with Stationery, and that is a natural grouping. Yet the fact remains that while the item Postage can hardly he varied much (since one does not, after a...
-The Lesser Items. Part 5
The second end - accumulation for a special purpose like a musical education or a voyage to foreign countries - needs no comment. As to the third end of Savings - the provision of an income from in...
-The Lesser Items. Part 6
Even with the day worker costs must be considered. The work of the laundress costs in addition to her wage (and perhaps carfare) her noon meal, and the cost of furnishing soap, hot water, bluing, s...
-VI. Why And What Accounts?
For a long time it has been the habit of many men, especially those engaged in business, to condemn in no mild terms the woman in the home who is in charge of expenditure and yet keeps no accounts. He...
-VII. How To Keep Accounts
The crucial question is how to keep accounts so that they will answer the questions one wishes to ask, and yet will not be a nuisance, a burden, or a time-consuming task. The forms available for ho...
-How To Keep Accounts. Part 2
The system is flexible and allows the temporary adoption of subheads when these seem worth while. For example, if the cost of the meat used has a tendency to mount too rapidly during the winter, a car...
-How To Keep Accounts. Part 3
Nov.-Dec. (Single) Newspapers .42 Feb.-April Shoes polished .60 Copy of an actual card kept by a woman. The 1918 (wartime) expenditure was only the $3 recorded. The card shows the method of wri...
-VIII. On Readjusting
The subject of readjustment of the items of the budget has already been dealt with incidentally several times, but its importance is sufficient to warrant further study of it. Especially by those who ...
-On Readjusting. Continued
The two causes already dealt with were general: the third cause is particular. Some one item may demand unforeseen expenditure. The rent may be raised before the budget year is over, as happened to un...
-IX. The Income Besides Money
In the budget the income of the family represented by money is all that can be noted, yet the family must never forget that it has other income on which it should reckon. Every member of the family ha...
-The Income Besides Money. Continued
The economic effect of this on the family is bad, since the income is lessened without due return, but there is a moral effect too. Where is the cooperation in this cooperative group? Father and Mothe...
-X. Conserving As An Asset
The careful use of the things that money can buy can hardly be classed under labor income, though sometimes it means an expenditure of labor. In discussing the Clothing budget the question of the care...
-Conserving As An Asset. Continued
Household linen is another of the temptations of the housekeeper. There is no pleasanter sight to her than piles of snowy sheets and pillowcases on her shelves, and piles of damask napkins and tablecl...
-XI. On Inventories
To make a complete and accurate inventory of the property of a family is not an easy task and is one that consumes an amount of time that few will care to assign to it. To run the household on a real ...
-XII. The Individual Budget
The principles of budget-making do not change, whether the budget is for a family or an individual, yet the balance of items is frequently quite different, and the individual deserves a few words. The...
-XIII. Training The Children
Thus far in this hook the question of the children's share in the making and carrying out of the budget has been dealt with, in one aspect or another, more than once. But it is not enough training for...
-Training The Children. Continued
The allowance and the responsibility should be increased as fast as is advisable with each child until in late adolescence the money is enough to cover all the clothing expenditure and minor personal ...
-XIV. Using Banks
There are three kinds of banking institutions commonly used. In one kind all the money deposited is available at any moment through a check or checks drawn against the account. In large cities such ba...
-Using Banks. Part 2
The depositor should come with money enough in cash or checks to open the account. He is asked to write his signature once or more on the bank's records, with which they can at any time compare the si...
-Using Banks. Part 3
At the time the check is written the stub must also be filled out, with date, payee and amount, and some brief indication of the commodity bought. Groceries, Coal, or for department store, gas, el...
-Using Banks. Part 4
When the account is straight, put the checks into your numerically arranged file of these. Strap to the pile (or such part of it as is to be kept at hand) the slip giving data of the unreturned checks...
-XV. Savings And Investments
One of the real tragedies of human life is the loss of money that has been saved by constant care in the use of one's resources, by deprivation and even by privation. To go without this or that much-d...
-Savings And Investments. Part 2
Investments in other securities than those of governments may be advisable, but they should never be made without the advice of experts. The banker is perhaps the best, but often one knows and trusts ...
-Savings And Investments. Part 3
Long ago the wise Mr. Dooley bade Mr. Hennessy remember that Whin a man gets more than 6% f'r his money it's a thousan' to wan he's payin' it himsilf. He meant, of course, that the larger interest w...
-XVI. The Result
It would be pleasant to promise, as the old saw does so glibly to those who go early to bed and are early to rise, that the making of a budget and the checking of it by accounts would make every one ...









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