Depression Era Values

On Monday the Sun Sentinel carried a national wire article titled "Depression generation's lessons have value today". It is relevant topic with the economic troubles but I was surprised that they put out the ideas as being new things.

If my grandparents read the article they would laugh. They lived through the great depression and still remind me how fortunate they were to have food to eat.

The six lessons in article are things that I was taught growing up by my parents and grandparents. They are timeless and should be taught to youngsters today. Unfortunately we see too many examples of people not living by these examples and getting into financial trouble.

The principles are:

• Frugality - Live within in your means and do no spend money on things you do not need.
• Recycle - The original green concept of re-using discarded items. My father still watches for old bed frames (at the dismay of my mother) to use the steel for welding projects.
• Help - Giving to others in need. When God has blessed you share it others around you who need help.
• Work Hard - Earn your pay on the job. If you want more, work harder. When I was in high school, my parents did not just give me whatever I asked for. When I wanted a car, I had to work for it. Today people have a since of entitlement that they have a right to a car, television, cell phone, and the list goes on.
• Shun Debt - This comes back to frugality and living in your means. Do not spend money you do not have. A mortgage for home is okay but you should be afford to afford the mortgage payments. (What ever happened to the rule of thumb that no more than 40% of your income can go to debt payments, insurance, and property taxes?)
• Save - Put away a portion of what you earn. You will need money for a rainy day (a.k.a. the day your car breaks down) and retirement. (Are you really relying on social security?)

If more people lived by these principles the U.S. would be better off. We instead seek after instant gratification and pleasure which Proverbs describes as the path to destruction. Why are those principles so hard?