How Early-20th-Century Americans Taught Their Kids to Be Thrifty
August 3, 2015 3:08 AM Subscribe
Slate takes a look at some of the concepts in Andrew L. Yarrow's Thrift: The History of an American Cultural Movement including various methods of teaching thrift to children. One tool used was a chart that teaches children how much it cost their parents to support them.
"Do not let the promise of large profits tempt you into speculation or questionable investments. Government securities are safe. So is land near your own home which you can cultivate profitably; get advice from your club leaders." - a line that has spawned countless pages of YA fiction.
posted by jmccw at 4:49 AM on August 3, 2015 [2 favorites]
posted by jmccw at 4:49 AM on August 3, 2015 [2 favorites]
War Bonds paid 4%? Haven't seen numbers like that from the government for a while
Government securities are safe.
Well, usually.
Fun Fact: in 1923, the US decided to lend Germany money to pay off her reparations bills, which in turn stimulated the economies of the recipient countries. The plan worked and got the architect a Nobel Peace Prize. Twelve years later, every European nation except Finland had defaulted on their US obligations. Thrift indeed.
Of course, small children seldom run up war debts.
posted by BWA at 4:55 AM on August 3, 2015 [4 favorites]
Government securities are safe.
Well, usually.
Fun Fact: in 1923, the US decided to lend Germany money to pay off her reparations bills, which in turn stimulated the economies of the recipient countries. The plan worked and got the architect a Nobel Peace Prize. Twelve years later, every European nation except Finland had defaulted on their US obligations. Thrift indeed.
Of course, small children seldom run up war debts.
posted by BWA at 4:55 AM on August 3, 2015 [4 favorites]
Absent from the "My Cost of Maintenance" chart: daycare (because Mom is home, obviously). At least it recognizes the value of "unpaid labor of mother, father, and children."
posted by exogenous at 5:03 AM on August 3, 2015 [2 favorites]
posted by exogenous at 5:03 AM on August 3, 2015 [2 favorites]
Well, fine, I didn't ask to be born. Jeeeeez.
posted by Kinbote at 5:10 AM on August 3, 2015 [6 favorites]
posted by Kinbote at 5:10 AM on August 3, 2015 [6 favorites]
One tool used was a chart that teaches children how much it cost their parents to support them.
Is that for teaching thrift, or guilt?
posted by Thorzdad at 5:30 AM on August 3, 2015 [4 favorites]
Is that for teaching thrift, or guilt?
posted by Thorzdad at 5:30 AM on August 3, 2015 [4 favorites]
The 21st Century method for teaching thrift is usuary.
posted by srboisvert at 5:35 AM on August 3, 2015 [3 favorites]
posted by srboisvert at 5:35 AM on August 3, 2015 [3 favorites]
Finally, they talked the nation down into a Depression with their damned thrift. had they no idea of the duty to consume?
posted by Segundus at 5:43 AM on August 3, 2015
posted by Segundus at 5:43 AM on August 3, 2015
My grandmother was born in 1914 and I believe this kind of stuff ruined her life. She was constantly worried about saving everything despite my grandfather making a very comfortable, upper middle class salary. They had five children, they bought them all a used bike to share one year for Christmas. For my Dad's fortieth birthday, they gave him library books... That had to be returned. They were loving people but I have a million stories about how their idea of thrift just went too far. They could easily afford to let up a bit....but couldn't bring themselves to.
posted by pearlybob at 6:02 AM on August 3, 2015
posted by pearlybob at 6:02 AM on August 3, 2015
My grandmother was born in 1914 and I believe this kind of stuff ruined her life. She was constantly worried about saving everything despite my grandfather making a very comfortable, upper middle class salary.
If your grandmother was born in 1914, she would have been 15 when the Great Depression hit. That sort of traumatic event can and will shape a person's psyche for the rest of their life. In her case, the knowledge that good times are transient.
I know, because my dad went through the Great Depression, and it really affected how he related to money. He was extremely cautious, unwilling to take out loans that we could have used to increase our wealth greatly- like missing buying property in Santa Barbara that was guaranteed to go up in value. His frugality actually resulted in decreasing our wealth- but he lived his lieve in fear of another depression.
posted by happyroach at 6:46 AM on August 3, 2015 [14 favorites]
If your grandmother was born in 1914, she would have been 15 when the Great Depression hit. That sort of traumatic event can and will shape a person's psyche for the rest of their life. In her case, the knowledge that good times are transient.
I know, because my dad went through the Great Depression, and it really affected how he related to money. He was extremely cautious, unwilling to take out loans that we could have used to increase our wealth greatly- like missing buying property in Santa Barbara that was guaranteed to go up in value. His frugality actually resulted in decreasing our wealth- but he lived his lieve in fear of another depression.
posted by happyroach at 6:46 AM on August 3, 2015 [14 favorites]
"like missing buying property in Santa Barbara that was guaranteed to go up in value."
How would he know the value would go up?
Both sets of grandparents grew up during the depression. They have all told me stories of being lucky enough to have enough food to feed random strangers on the front step. It's a tough concept to wrap our heads around today, but I think that lack of fundamental security and safety is something is really impossible to let go of.
posted by sopwath at 7:32 AM on August 3, 2015 [1 favorite]
How would he know the value would go up?
Both sets of grandparents grew up during the depression. They have all told me stories of being lucky enough to have enough food to feed random strangers on the front step. It's a tough concept to wrap our heads around today, but I think that lack of fundamental security and safety is something is really impossible to let go of.
posted by sopwath at 7:32 AM on August 3, 2015 [1 favorite]
What a thing of beauty! Thanks for posting this, purplesludge.
If only more children were taught to think carefully about finance and household expenses now.
posted by Annabelle74 at 7:47 AM on August 3, 2015 [1 favorite]
If only more children were taught to think carefully about finance and household expenses now.
posted by Annabelle74 at 7:47 AM on August 3, 2015 [1 favorite]
Of course, small children seldom run up war debts.
Do LEGO count?
posted by Celsius1414 at 8:53 AM on August 3, 2015 [3 favorites]
Do LEGO count?
posted by Celsius1414 at 8:53 AM on August 3, 2015 [3 favorites]
I was of an age to read stuff like this, in the 1970s. I never saw any of it. And I never starved like in the depression. But I learned these same lessons in yet another traumatic way - from watching the endless screaming and crying fights that took place over the dinner table, night after night.
The 20-somethings of my acquaintance seem completely oblivious. I've got two that I am trying so hard to teach this stuff too, but there is a huge array of salespeople and it's like trying to hold back the tide. Somehow what they have learned, is to expect to be in debt for everything forever, and that there's virtue in building their credit by submitting to usury.
posted by elizilla at 9:06 AM on August 3, 2015
The 20-somethings of my acquaintance seem completely oblivious. I've got two that I am trying so hard to teach this stuff too, but there is a huge array of salespeople and it's like trying to hold back the tide. Somehow what they have learned, is to expect to be in debt for everything forever, and that there's virtue in building their credit by submitting to usury.
posted by elizilla at 9:06 AM on August 3, 2015
If your grandmother was born in 1914, she would have been 15 when the Great Depression hit. That sort of traumatic event can and will shape a person's psyche for the rest of their life. In her case, the knowledge that good times are transient.
Another with grandparents who grew up during the Depression here. Had a great-aunt who didn't trust banks. When she died, we found cash stashed all over the house. Grandparents very frugal - but that means that now my grandmother can afford her nursing home bills, which is something I can't fathom doing at 92.
posted by maryr at 9:13 AM on August 3, 2015
Another with grandparents who grew up during the Depression here. Had a great-aunt who didn't trust banks. When she died, we found cash stashed all over the house. Grandparents very frugal - but that means that now my grandmother can afford her nursing home bills, which is something I can't fathom doing at 92.
posted by maryr at 9:13 AM on August 3, 2015
The Great Depression completely warped both my grandparents on my mother's side -- and they, in turn, warped her relationship with money and possessions, and set in place an expectation that at any moment, the economy will collapse and it will basically be Mad Max and cannibalism from coast to coast. Which, hey, maybe it will be, but it would be nice if I hadn't had to spend the last 40 years on edge that it's going to happen ANY SECOND NOW. There were some nice summer days in that time I could have enjoyed.
These things get passed down in really unhealthy ways. I fight it hard, but they buried the seed of it in me early. I live my life trying to convince my parents there are better ways to handle things, while uneasily wondering if I should be listening to them, instead.
posted by instead of three wishes at 9:29 AM on August 3, 2015 [1 favorite]
These things get passed down in really unhealthy ways. I fight it hard, but they buried the seed of it in me early. I live my life trying to convince my parents there are better ways to handle things, while uneasily wondering if I should be listening to them, instead.
posted by instead of three wishes at 9:29 AM on August 3, 2015 [1 favorite]
The Great Depression completely warped both my grandparents on my mother's side -- and they, in turn, warped her relationship with money and possessions, and set in place an expectation that at any moment, the economy will collapse and it will basically be Mad Max and cannibalism from coast to coast. Which, hey, maybe it will be, but it would be nice if I hadn't had to spend the last 40 years on edge that it's going to happen ANY SECOND NOW. There were some nice summer days in that time I could have enjoyed.
COMRADE.
In my case, the Depression-era frugality also got compounded by a double-whammy of "one of those grandparents was also from an old-guard frugal New England family" and "one of those grandparents was also the daughter of an immigrant farmer from Maritimes Canada". I joke to people sometimes that "I have more money issues than a Wall Street Journal subscription", but I also have moments where I blurt out snarky things unplanned to some of my dearest friends and then have to apologize, like what just happened this weekend (I don't want to go into details; I was just being really petty and jealous, let's leave it at that). Thrift is good, but holy shit can the overkill fuck you up.
posted by EmpressCallipygos at 10:01 AM on August 3, 2015 [1 favorite]
COMRADE.
In my case, the Depression-era frugality also got compounded by a double-whammy of "one of those grandparents was also from an old-guard frugal New England family" and "one of those grandparents was also the daughter of an immigrant farmer from Maritimes Canada". I joke to people sometimes that "I have more money issues than a Wall Street Journal subscription", but I also have moments where I blurt out snarky things unplanned to some of my dearest friends and then have to apologize, like what just happened this weekend (I don't want to go into details; I was just being really petty and jealous, let's leave it at that). Thrift is good, but holy shit can the overkill fuck you up.
posted by EmpressCallipygos at 10:01 AM on August 3, 2015 [1 favorite]
I don't know. My husband and I are really thrifty compared to most of our contemporaries.
Context: we moved from the Midwest to the East coast after graduating in 2009 because there-were-no-jobs-at-home and having had a per-existing condition since I was a kid getting a job with insurance IMMEDIATELY after graduating was essential being that it was before the Affordable Care Act.
I kind of alternate between between jealousy and horror at the way people around me spend money like there's an infinite amount of it. Even though we're doing fine now, it's hard not to think remember what it was like knowing that no matter how much I saved if I made a single mistake I would not be able to buy medication (without insurance it's really really expensive and having no medication is kind of the end of the road) so having my paperwork and finances in perfect order was necessary for my continued existence.
And that is nothing compared to the Great Depression. My Grandma's family had literally no money after it hit, Great-Grandpa lost his job so they traded (as-in-bartered) their new house in town for a small farm with no running water or electricity. It had enough land that they could grow enough food they didn't starve.
I think it's terrifying because how do you hedge against something that essential (medicine/food) knowing some arbitrary circumstance (Great Depression/Recession) could take it away from you at any moment and you only made it through last time due to sheer luck? It's a hard set of emotions to process. And I think those emotions drive the desire to pass things down to try and protect their kids. There's got to be a healthier way to deal with it, but I think the emotions drive a lot of it.
posted by scififan at 11:09 AM on August 3, 2015 [1 favorite]
Context: we moved from the Midwest to the East coast after graduating in 2009 because there-were-no-jobs-at-home and having had a per-existing condition since I was a kid getting a job with insurance IMMEDIATELY after graduating was essential being that it was before the Affordable Care Act.
I kind of alternate between between jealousy and horror at the way people around me spend money like there's an infinite amount of it. Even though we're doing fine now, it's hard not to think remember what it was like knowing that no matter how much I saved if I made a single mistake I would not be able to buy medication (without insurance it's really really expensive and having no medication is kind of the end of the road) so having my paperwork and finances in perfect order was necessary for my continued existence.
And that is nothing compared to the Great Depression. My Grandma's family had literally no money after it hit, Great-Grandpa lost his job so they traded (as-in-bartered) their new house in town for a small farm with no running water or electricity. It had enough land that they could grow enough food they didn't starve.
I think it's terrifying because how do you hedge against something that essential (medicine/food) knowing some arbitrary circumstance (Great Depression/Recession) could take it away from you at any moment and you only made it through last time due to sheer luck? It's a hard set of emotions to process. And I think those emotions drive the desire to pass things down to try and protect their kids. There's got to be a healthier way to deal with it, but I think the emotions drive a lot of it.
posted by scififan at 11:09 AM on August 3, 2015 [1 favorite]
I have this neat 8th grade math text book from 1922 (still has two original cardboard protractors in a pouch on the inside back cover, complete with student doodles) which has Chapter 9 - The Secret of Thrift (Images 1 2 3) which is followed by 6 pages of exercises.
I love that there's a chapter about saving money in there. Also interesting, the book pushes discovery and experimentation in the learning -- seems kind of modern, for all our complaints about how drill-and-kill math was taught in the past.
posted by klausman at 11:39 AM on August 3, 2015 [2 favorites]
I love that there's a chapter about saving money in there. Also interesting, the book pushes discovery and experimentation in the learning -- seems kind of modern, for all our complaints about how drill-and-kill math was taught in the past.
posted by klausman at 11:39 AM on August 3, 2015 [2 favorites]
The true secret of thrift is reading the unit cost in grocery stores. *nods sagely*
posted by maryr at 12:48 PM on August 3, 2015 [3 favorites]
posted by maryr at 12:48 PM on August 3, 2015 [3 favorites]
Senior citizen in a grocery a few weeks ago: "the only people not using coupons are either rich or on food stamps".
posted by buzzman at 2:17 PM on August 3, 2015
posted by buzzman at 2:17 PM on August 3, 2015
Had a great-aunt who didn't trust banks. When she died, we found cash stashed all over the house
My grandfather would periodically roll up a couple hundred dollar bills, put them in small glass tubes, then drill a hole in the walls of his adobe house to hide them. He just had to plaster them over, and they were hidden. Decades later my cousin spent years trekking those tubes down, even after the bills decayed.
Come to think of it, a little bit ifr that attitude has rubbed off on me- I always keep a small reserve of cash on hand just in case. I never could get my wife to do that-she hates having cash in her wallet..
posted by happyroach at 1:00 AM on August 4, 2015
My grandfather would periodically roll up a couple hundred dollar bills, put them in small glass tubes, then drill a hole in the walls of his adobe house to hide them. He just had to plaster them over, and they were hidden. Decades later my cousin spent years trekking those tubes down, even after the bills decayed.
Come to think of it, a little bit ifr that attitude has rubbed off on me- I always keep a small reserve of cash on hand just in case. I never could get my wife to do that-she hates having cash in her wallet..
posted by happyroach at 1:00 AM on August 4, 2015
I always keep a small reserve of cash on hand just in case.
Both my current husband and my ex grew up in rural Illinois and have several oddball habits in common that I ascribe to their upbringing: eating tomatoes like apples, for example, and making corn as a snack. And they both hide about $150 in small bills in their wallets--never, ever touched--for which they provided the same explanation. I chose to dismiss this practice as archaic and unnecessary. I learned I was wrong, the hard way.
It may be different now, but as recently as 2002, Illinois police officers who pulled you over asked for payment of the fine on the spot. If you lacked exact change, they took your license and held it at the cop shop until you turned up with the fine. When I was ticketed in Mundelein, a Chicago suburb, in front of an open 7-11 (with an ATM, actually), the cop wouldn't let me go inside to get change even after I showed him I had more than enough to cover the fine. Nor could I go to the police station to pick up the license later that night; apparently it takes at least 12 hours to properly log it in. I begged and begged because I was leaving on a business trip the next morning and wouldn't be able to rent a car at my destination with the flimsy receipt they provided. No dice. I used my passport to get on the plane and asked a colleague to rent the car instead. But it sucked.
posted by carmicha at 6:57 AM on August 4, 2015 [1 favorite]
Both my current husband and my ex grew up in rural Illinois and have several oddball habits in common that I ascribe to their upbringing: eating tomatoes like apples, for example, and making corn as a snack. And they both hide about $150 in small bills in their wallets--never, ever touched--for which they provided the same explanation. I chose to dismiss this practice as archaic and unnecessary. I learned I was wrong, the hard way.
It may be different now, but as recently as 2002, Illinois police officers who pulled you over asked for payment of the fine on the spot. If you lacked exact change, they took your license and held it at the cop shop until you turned up with the fine. When I was ticketed in Mundelein, a Chicago suburb, in front of an open 7-11 (with an ATM, actually), the cop wouldn't let me go inside to get change even after I showed him I had more than enough to cover the fine. Nor could I go to the police station to pick up the license later that night; apparently it takes at least 12 hours to properly log it in. I begged and begged because I was leaving on a business trip the next morning and wouldn't be able to rent a car at my destination with the flimsy receipt they provided. No dice. I used my passport to get on the plane and asked a colleague to rent the car instead. But it sucked.
posted by carmicha at 6:57 AM on August 4, 2015 [1 favorite]
The Child Maintenance Cost Calculator Chart brings to mind two events from my childhood. My parents were frugal and kept details about income/expenses from us, so we did not really understand how they decided whether something was too expensive.
Learning how much college tuition cost motivated me to get a paper route; it seemed like an astronomical sum, even in 1970. And an offhand remark my father made once when I wasn't practicing my musical instrument, which compared the cost of my weekly lesson to his hourly wage, put me into a tailspin of thinking our family was skating on thin financial ice. I know now that I must have misunderstood, or that he was exaggerating to make a point, but it was pretty scary.
Later, in high school, it was the middle class kids who never had any money. Those from rich families shared in the wealth. Those from strapped families were allowed/required to get jobs and so had spending money and even cars. We middle class kids were supposed to be concentrating on school; babysitting, snow shoveling, or a summer job that added to the college resume was fine, but nothing else. And that's how I got started playing my instrument professionally: it was acceptable college application material that paid.
posted by carmicha at 7:12 AM on August 4, 2015
Learning how much college tuition cost motivated me to get a paper route; it seemed like an astronomical sum, even in 1970. And an offhand remark my father made once when I wasn't practicing my musical instrument, which compared the cost of my weekly lesson to his hourly wage, put me into a tailspin of thinking our family was skating on thin financial ice. I know now that I must have misunderstood, or that he was exaggerating to make a point, but it was pretty scary.
Later, in high school, it was the middle class kids who never had any money. Those from rich families shared in the wealth. Those from strapped families were allowed/required to get jobs and so had spending money and even cars. We middle class kids were supposed to be concentrating on school; babysitting, snow shoveling, or a summer job that added to the college resume was fine, but nothing else. And that's how I got started playing my instrument professionally: it was acceptable college application material that paid.
posted by carmicha at 7:12 AM on August 4, 2015
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posted by Nanukthedog at 4:42 AM on August 3, 2015