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Throughout history, philosophers, poets, and leaders have
extolled the virtues of thrift. Cicero, the Latin poet, recognized that thrift
is a valuable revenue stream that many people fail to realize. Being thrifty
involves managing money in an economic way so that there is always enough and
often a little left over. Virtues of thrift are reflected in proverbs in almost
every language, including "Look after the pennies and the pounds will look after
themselves" and "Waste not, want not."
In primitive societies, thrift was even more necessary than it is today. Without
money, barter was the order of the day, and people had to save bits of this and
collections of that to survive. Later, during the Industrial Revolution in
England, where wages were low and money scarce, thrift was still crucial.
Families had to survive on a few pennies a week, and a crust of bread was
precious.
Today, fortunately, conditions of life are much different in most parts of the
world. Machines and mass-production have made consumer goods far more plentiful,
and wages keep pace with prices in most countries. As a result, thrift is not
considered a necessity in modern times. However, factors in our modern life,
such as "Hire Purchase," "Pay as you wear," and "Buy now, Pay Later," militate
against thrift. The desire to be thrifty and save before having anything seems
no longer to matter, as practically everything from the cradle to the grave can
now be paid by installments and in arrears if necessary.
While there is something to be said on the side of "Hire Purchase," it is easy
to carry the virtue of thrift to extremes and become mean and ungenerous. At its
best, thrift should be encouraged in ourselves and our children. Everyone should
be trained to know the real value of money and to be careful with it. The
absence of thrift leads to the "eat, drink and be merry, for tomorrow we die"
attitude, which should never become paramount in a responsible society. |
