I was looking through a vintage magazine this evening that had caught my attention not long ago at an antique shop—The Modern Priscilla, published January 1920. I liked the cover, so I bought it. U.S. involvement in World War had taken a toll on the American economy, and The Modern Priscilla referred to homemakers as the Woman Army. The introductory article entitled "The March Toward Better Things" gives the mission of the magazine--"If we can help the women of today to the realization of greater beauty in their homes, ... to the wise, thrifty, and cheerful regulation of their household--if we can do all this, and add thereunto the relaxation of a good story, with now and then a thought to carry through the busy days--we shall feel that we have a rightful place beside her in this Woman Army's march toward better things."
And so to encourage the wise, thrifty, and cheerful regulation of her household, the publishers of The Modern Priscilla ran a Budget Contest and published three prize-winning manuscripts. I found the winner of the “Over $2500” category (the highest of the three categories) particularly interesting. She explained their reasoning behind their family budget and gave a rundown of their “Monthly Division”. They were newlyweds, with a mother living with them. Old Dear is the husband. It’s evident in her writing and the budget itself that this young homemaker is not self-focused and looks well to the ways of her household.
Savings $65.00Insurance 12.00Lord’s money 15.00Rent 31.50Sundries 1.00House expense 45.00Clothes 15.00Health 5.00Recreation 10.00Entertainment 2.50Old Dear 30.00Mother 10.00Yours Truly’s pin money 8.00
She writes—
“When we returned from our honeymoon last September, we sat down together to a delightfully serious session and discussed finances. There, I believe, stands the first principle in budget-making. The budget must be a joint proposition. It must represent the added experience of both husband and wife. They are partners in a going concern; both must take financial responsibility; both should know the resources and liabilities of the family. Then, if one of those distressing accidents which will sometimes happen, should occur, money affairs will go on smoothly and not prove an added burden. Then, too, if there is mutual frankness and confidence, the working out of the budget will not prove irksome.”
She sums up the advantages of a budget:
1. It insures saving. You save a definite amount, not what is “left over.”
2. Having a definite amount makes wise investing easier.
3. It insures money on hand for all ordinary, and some unusual needs.
4. Prevents extravagance in any one direction.
5. Prevents marring the serenity of the home or bickering over finances.
6. Makes the wife a real partner in the firm.
7. Gives the humblest clerk the fun of managing a real business.
8. Makes for a balanced life. Sometimes the figures show startling facts.
And—the figuring takes very little time, far less than that consumed “wondering where the money goes.”
Good advice for those of us managing a household in 2011 as well!
She looketh well to ways of her household…Give her the product of her hands, and let her works praise her in the gate. ~Proverbs 31
