Nearly every one in this business world seems to be engaged in the occupation of “catching up.” Nearly everyone is a little behind in the matter of finances and taxes.
As soon as one gets across the stream and is on dry land and has his bills all paid, then he takes on new responsibilities and goes deeper in debt.
It is a very hard game, this catching up. The game of existence is very easy to play when you are caught up.
Some people are habitually behind. No matter how their salaries may increase they are proportionately behind
This catching up has a bad influence. It worries the individual; she does not do her best work.
When you have all your bills paid and a surplus of $5000 in the bank, your head is higher, your chest is broader, your backbone stiffer, and you have a confidence that helps you take on greater responsibilities.
To be in debt is to be under obligations to your friends, and it kills off those strong qualities which you naturally possess but which warp when you are catching up. The woman who is catching up cringes instead of standing erect, she is suppliant instead of dominant. She is disturbed by little things, and in the meantime the catching up process is tearing down her nervous system.
Get caught up. Whatever your income is, save 10% of it. Do not mistake us in thinking that we are preaching the old sermon of the savings bank, which is, save your pennies and the dollars will take care of themselves.
No-one gets rich through mere saving, but it is the training the woman gets in saving the pennies that gives her a good idea of values of things and shows her the importance of having a reserve.
If the boss is extravagant in little things, the employee multiplies the extravagance.
If you are always catching up while you are an employee you will always be catching up while you are boss. If you are always saving and putting by a reserve while you are an employee, you will be doing the same thing when you are a boss. The principle is the same. It is merely a question of figures.
Do not take on financial responsibilities until you see your way clear to meet the responsibilities, and in addition to meeting them, see to it that you have made an allowance for good measure.
Catching up calls for double effort and double work.