Hi,
When I was at the point of getting married, one of my bosses
asked me if I had thought about a budget. My answer was no, as i hadn't. He
handed me a copy of an article, circa 1929, and said have a look at this. He
also said I would have to vary the percentages to the 1960 values, rent, income
and the like. I set up a budget and more or less FOLLOWED it and still do to an
extent. We, my wife and I had only a single income and yet we bought a house,
raised two kids, one through university and the other college. We were
also able to take a two week vacation at a cottage, and a week to the
I think the problem today is the fact that young folk want
the two incomes, but seem to forget that disater can strike at any time, ie.
this present recession. I know the feeling as the company where I
worked for over 30 years announced a closure two months after Christmas some
years ago. I was fortunate enough that I had a trade and was able to be self
employed for a few more years.
My advice as a Senior Citizen to the young folk, make an
very strong attempt to live on ONE income, and save for YOUR future. It isn't
easy, but neither is working for a living.
Set up a budget and STICK to it!!!
- Jack, Hamilton
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