All receipted bills should be kept for seven years; according to the Statute of Limitations, no payment can be insisted on after six years from the date of purchase; the additional year is simply a safeguard against any mistake.
Receipts should be made out very clearly, so as to admit of no mistake; they should be dated in full, and the amount written in words and in figures. If £2 or over, the receipt should be stamped, and the receiver's name written by himself on the stamp. For additional security it is well to write for what debt or purpose the money was paid - thus:
March 7, 1906. Received from JOHN HASTINGS the sum of FIVE POUNDS, being a Month's Salary from February 7 to March 7, 1906.
£5 0 0.
If the bill has been paid by cheque it should be so stated on the receipt.
The vast difference between true and false economy is not always recognized. It is more than ever, in these days of keeping up appearances, incumbent on the housewife to realize that her prudence and forethought are in themselves sources of income. Her work is to get the best possible value in every way: (1) the best possible return for all money spent; (2) the greatest amount of comfort and cleanliness with the least expenditure of labour and cleaning materials; (3) the longest use out of materials by properly and economically cutting the garments to be made; (4) the greatest amount of health for herself and her household by observance of the laws of hygiene. The duty of the housewife is also to spend as well as to save. Here a mistake is often made, some people considering economy to be the art of going without. Mere parsimony is not economy, and the woman who is niggardly is not always economical.
True economy provides a sufficiency of fire, clothing and light, as stinting in either of these items will either lead to disproportionate expenditure in other directions, or in doctor's and optician's bills.
True economy keeps everything in the house in a state of careful repair; false economy saves this small outlay, but ultimately is put to the greater expense of either buying new goods or paying for more costly and extensive repairs.
True economy keeps the stock of house and table linen replenished; false economy saves this expense; but when all is fallen into a condition of extreme shabbiness it is put to the excessive outlay of buying at once a whole new stock instead of gradually replacing things as they wear out.
True economy provides proper tools and appliances for household work, whereas through false economy time, patience, and temper are lost in attempting to manage without, the result also being unsuccessful.
True economy buys only good materials, whether in clothing or food; false economy buys cheap things which either quickly wear out, or in the case of food are not nourishing; the results being that the members of the household have a shabby, tawdry, ill-fed appearance.