Sephiroth_IRA fucked around with this message at 14:50 on Jun 5, 2013

1. Take great care "to know the amount of income and of current expenses, so that the proper relative proportion be preserved, and the expenditures never exceed the means."
   
2. A couple should have a "system and forethought, in arranging expenses". Yes, give each member of the household an 'allowance'.
   
3. "[I]n apportioning an income, among various objects, the most important should receive the largest supply, and that all retrenchments be made in matters of less importance". Rent and food are more important than Steam.
   
4. It's a bit silly to buy "some expensive article, which is not at all in keeping with the other articles connected with it". (Buying a shiny boat and parking it next to a collapsing shed, which serves as your abode, is kinda dumb.)
   
5. Don't waste time on necessities that you can frugally buy, nor money on expensive tasks that you can perform easily. Her example (translated, by me) is sitting around knitting for 20 hours when gloves cost $5-10, or sending kids off to a $2-6k/month "preparatory school" when you can teach them reading, writing, and arithmetic, and drive them to the playground that is five miles away for $2 (and play with them or do something useful like reading a book to get a license for X). Spending $5k a month so you "have time to knit" is... possibly quite silly.
   
6. Don't waste money hiring people by "neglecting to acquire and apply mechanical skill". There are plenty of people that will help you learn how to change the oil in your car.
   
7. Buying the "cheapest" or "most expensive" is usually dumb, as most "articles at medium prices do the best service". Cheap things often don't last, or require more expense for repairs, and expensive things likely are of no better quality than objects of medium price.
   
8. "Buying by wholesale, and keeping a large supply on hand, are economical only in large families;... in other cases, the hazards of accident, and the temptation to a lavish use, will make the loss outrun the profits". I buy food at Costco, but rarely do I find that any of it has gone stale.
   
9. "[A]ll articles should be so used, and taken care of, as to secure the longest service, with the least waste". "Whatever is no longer wanted for... enjoyment, should be carefully saved, to add to the enjoyment of others". I just realized that I have a bunch of pots, which I received third hand, in reasonable condition, that I don't actually use; they are on the list to go to Goodwill, both to make my kitchen cabinets less cramped, so I can actually get things off the floor and open racks, and to help others that can't afford new.)
   
10. "The rich are not at liberty to spend their treasures for themselves, alone. Their wealth is given, by God, to be employed for the best good of mankind". It's easy to identify people with money that still try to give something back to humanity. On the other hand, giving poor people money, boats, or even land, may be a waste compared to teaching them to cook, build houses, or excel at a trade. I would argue, by extension, that it might not be economical to give kids new toys each week instead of demonstrating and teaching to them enjoyment in one's possessions.
    
11. "A person of wealth has no occasion to spend time in looking for extra cheap articles; her time could be more profitably employed in distributing to the wants of others". "[T]he practice of beating down tradespeople, is vulgar and degrading". Wearing a fur coat while arguing loudly with the dentist's secretary about a $10 charge for a dosage of aspirin that was prescribed after tooth work?
    
12. "[D]o not hesitate to say so, when [you] cannot afford certain indulgences".
    

PhantomOfTheCopier fucked around with this message at 17:04 on Jun 5, 2013

dreesemonkey fucked around with this message at 18:53 on Jun 5, 2013

1. "Economy" is a science (requiring knowledge, artistry, experience, observation, and talent).
   
2. "Wealth" is the collection of useful possessions. Items that you can't/don't/won't use are only useful if you can sell them, and money may not be 'wealth' if you know not how to use it.
   
3. Some people have knowledge and possessions, but not "wealth", as they are: Idle, reckless, negligent, frivolous, intemperance, slaves to food, drink, luxury, and profitless associations.
   
4. Property and possessions are "sufficient" if they fulfill needs. An estate has duties in proportion to its worth. Larger estates have more duties and responsibilities to friends, relatives, hired hands (slaves, workers, farmers, crew, etc.), and the state (charitable giving, arts, institutions, and, yes, taxes in proportion to value).
   
5. Get your information from people with first-hand experience. If you want to know how to create a surplus from little, ask a lucrative person that possesses little. If you want to run an operational household, inquire of a successful household. If you want to run a farm, learn from a profitable farm. Observe successful people if you want to be successful.
   
6. Don't waste money on useless possessions (specifically, expensive, lavish houses). Having moderately-priced items that fulfill all your needs is better. An expensive, empty house is useless, compared to a moderate, furnished one.
   
7. Items are not useful if they are not arranged and stored properly. To modernize the example, one might claim the following items as useless for their intended purpose/value: Hammers that you can't find, the finest towels that have been used to soak up an oil spill in the garage, a collection of dishes sitting dirty in the dishwasher, or even a trash can that is full because no one has taken out the bag of garbage.
   
8. A functioning household (from an economic perspective) requires consistent goals. If your kids are stealing money from the "Grocery jar", you can't buy groceries.
   
9. If you wish to be profitable at something, it becomes a topic of study (as opposed to enjoyment). If you want to be part of a couple that practices economy, and your partner doesn't know how to budget money, you have to teach them. (There are allusions in the text not just to dealing with money, but possessions, the balance of chores/duties, and dealing with the care of the household during times of sickness.)
   
10. There is a rather lengthy conversation about giving back to the public and the state, in the sense that property should contain trees, grass, crops, and so forth, as can be reasonably planted and tended, both for the pleasing appearance and to provide food in times of need, for example. (Random thought: Large plots of grass, within city limits but on personal property, may be reasonable donations for a community garden. We have these in this city. I don't know how they came to be, who paid/pays for them, or what the tax advantages might be.) There are also pages explaining how gardening (husbandry) is worthy of study, because it not only teaches you how to grow things, but how to learn, how to pay attention, adhere to a schedule, exercise care and maintenance, and so forth. The same could be said to apply to raising stock, rearing horses, etc.
    
11. Be happy with your lot and use what you have to advantage.
    
12. There is also a rather lengthy conversation about the choosing of a partner and the aforementioned sharing of property, possessions, and money; dividing of duties, chores, and household maintenance; creating an inventory, and having organization for storage of possessions. (I include this here, in a budgeting thread, because your partner buying more crackers might be wasteful if you still have the three boxes you bought last week sitting in your car instead of the pantry.)
    
13. True knowledge, wisdom, power, and wealth, are learned by being engaged in the tasks, learning from others, being an overseer, and so forth. (Actually, he bitch slaps his wife for wearing an excess of makeup, and suggests that she be honest in all things, including teaching what you know and learning what you don't.)
    
14. Take care of your possessions and your body. Be efficient with your time. Walking to work or a nearby grocery may save on fuel or bus fare and get you more exercise.
    

Sephiroth_IRA fucked around with this message at 17:54 on Jun 12, 2013