A Good Economic Foundation ... from The Frugal Housewife

The following excerpt is from about 1830 but still has some 'life' in it that is valuable for instruction.

In light of the current world wide financial crisis, a lot of which stemmed from over borrowing and living beyond one's means, let us reexamine the past so we can learn and go forward teaching our children how to save for a rainy day, thus saving them from repeating the mistakes of the current generation.

To associate with influential and genteel people with an appearance of equality, unquestionably has its advantages; particularly where there is a family of sons and daughters just coming upon the theatre of life; but like all other external advantages, these have their proper price, and may be bought too dearly. They who never reserve a cent of their income, with which to meet any unforeseen calamity, 'pay too dear for their whistle,' whatever temporary benefits they may derive from society. Self-denial, in proportion to the narrowness of your income, will eventually be the happiest and most respectable course for you and yours. If you are prosperous, perseverance and industry will not fail to place you in such a situation as your ambition covets; and if you are not prosperous, it will be well for your children that they have not been educated to higher hopes than they will ever realize.  The Frugal Housewife