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Remember my savings passbook fondly
Old 05-14-2016, 08:11 PM   #1
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Remember my savings passbook fondly

Hello,

I found this forum awhile back and have truly enjoyed reading the posts and hearing from others who seem to share my more "planful" ways of looking at things. Web communities always seem to have a culture that develops and I've found the humor, supportiveness, and knowledge of this group refreshing.

From very young I enjoyed managing finances and working to build a nest egg. Thus the thread title. I don't know if others had the same feelings as kids but I loved going to the bank with my parents and depositing my paper route money, checks and gifts into my little passbook savings account. That carried over into my adult life which has helped me stay comfortable financially. Have worked hard the past 33 years or so and am probably not too far from wanting to pull the cord on the stressful MegaCorp career. Anyway, just wanted to say hello to others on the board. Hoping to be a class of 2018 member!
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Old 05-14-2016, 08:21 PM   #2
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Welcome aboard!

Orange County (Costa Mesa, then Huntington Beach) was my first job outta school from Detroit, MI. Just loved the place and am a regular visitor from way up here in San Joaquin County.
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Thanks Much
Old 05-14-2016, 08:30 PM   #3
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Thanks Much

While here you were in my neck of the woods as we're in HB. Very happy here. It would be nice, though, to have costs a bit lower : ( Were you perhaps part of the large aerospace engineering community in the area?
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Old 05-14-2016, 08:35 PM   #4
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Nah, I was in the industrial automation business, but we did sell to the aerospace co's

Have you been to the "Crab Cooker" in Newport Beach? An all time fav and an incredible value -
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Thanks for the tip!
Old 05-14-2016, 09:35 PM   #5
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Thanks for the tip!

Have not yet tried the Crab Cooker but have definitely seen it in passing. I'll have to stop in. Thanks for the recommendation.
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Old 05-15-2016, 05:28 AM   #6
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It was with great pride that I went up to the bank teller as an 8 year old to make a deposit. Loved the whole experience. Not sure if they even do this now.
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Old 05-15-2016, 06:25 AM   #7
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.....and the 5 1/4 % interest rate was nice too.
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Old 05-15-2016, 10:14 AM   #8
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Yes, not only miss the high interest in standard saving accounts but the 16% T-Bill/CD? that my college roommate snagged in the early 80's Retirement saving would be a heck of a lot easier if we had, at least some better conservative fixed interest options. Pretty sure I wouldn't want the early 80's inflation back, though!
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Old 05-15-2016, 10:58 AM   #9
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I remember doing this from 1st grade. in fact, the school and bank togethr would encourage t; if you deposited something - even as little as a dollar - every week for some number of weeks, you would get some reward. They also had a "Christmas Club" option where you would put in something in the "club" for some number of weeks, the bank would kick in something additional, and you could withdraw the "club" amount before Christmas.

Funny how those little things early in life make such an impression.
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Old 05-15-2016, 11:34 AM   #10
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Welcome aboard
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Old 05-15-2016, 02:09 PM   #11
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Remember going to the bank with my grandmother for her Christmas Club deposits! Fun memories. Welcome!
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Old 05-15-2016, 03:03 PM   #12
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I used to have a joint passbook account with my mother so that she could deposit my paper route earnings. After she died, I tried to close the account but they said she had to sign off on closing it, so I just withdrew all the money.

Maybe it is still open.
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Old 05-15-2016, 04:21 PM   #13
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.....and the 5 1/4 % interest rate was nice too.
I can remember being amazed in the years of double digit interest rates and just how fast money grew... of course at the same time it was shrinking even faster with the inflation of the 70s and 80s.
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Old 05-15-2016, 04:27 PM   #14
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Welcome aboard, SpinDr. I sure remember my first passbook and savings account. It was funded up with money I earned as a paper boy and my mother would take me to the bank to make a deposit once every other week. I watched it grow, and when it was time for college my first year contribution, which as (IIRC) half the tuition, was covered. The rest was paid for with scholarship and loan.

Ever since, having money in the bank always gave me a feeling of accomplishment and security, despite loss from inflation.
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Old 05-15-2016, 05:47 PM   #15
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Wow, a number of folks with paper routes as a kid! Not sure there is anything like that now where a 10 year old kid is given responsibility for delivering a paper each day, managing collections, and working out strategies to get payments from challenging customers. Rain or shine, it was completely up to your own effort as to how much money you'd make.

At least in my area it is adults now who deliver the paper, from a car, and the billing is via mail. Not sure those folks would be able to handle the custom delivery requirements from customers back in the day. On the porch, but not too close to the the flowers, on the driveway so the dog doesn't bark, over the side fence etc.. You learned what your customers wanted or else the tips would be bad. Tips could range from a quarter to $2.00 : )
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Old 05-15-2016, 06:00 PM   #16
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Wow, a number of folks with paper routes as a kid! Not sure there is anything like that now where a 10 year old kid is given responsibility for delivering a paper each day, managing collections, and working out strategies to get payments from challenging customers. Rain or shine, it was completely up to your own effort as to how much money you'd make.

At least in my area it is adults now who deliver the paper, from a car, and the billing is via mail. Not sure those folks would be able to handle the custom delivery requirements from customers back in the day. On the porch, but not too close to the the flowers, on the driveway so the dog doesn't bark, over the side fence etc.. You learned what your customers wanted or else the tips would be bad. Tips could range from a quarter to $2.00 : )
It sure is different these days. I had a paper route for 3 years when I was a kid. We were living in a housing project and I delivered over 200 addresses. It was tough on snowy days pulling a sled. My young sister used to help.

Now the paper is thrown out a car window. Wet papers cause a phone call and many times, no re-delivery. On the bill they expect a tip. Right...
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Old 05-15-2016, 06:58 PM   #17
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I also fondly recall my savings passbook. Probably the most adult thing a six-year old could have.

And I'm shocked at the number of folks who still have papers delivered. I'm pretty sure there is no service in my neighborhood and I kinda figured that was the same everywhere.
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Old 05-15-2016, 08:18 PM   #18
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My first passbook savings account was at Middleboro Savings and Loan in MA. It was neat when I would bring it in and get a few months worth of interest credited to the account after a few months. Maybe it was because I was home on leave from the service it had multiple months of interest lines as I was a regular saver.

I remember the "Christmas Club" savings program too. It was back when ATMs were just starting. You really needed a corner bank then.
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Old 05-15-2016, 10:04 PM   #19
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. . . working out strategies to get payments from challenging customers.
Oh, yeah, I remember it well.
Me: "Collecting for the Tribune!"
Customer: "Oh. Do you have change for a fifty?"
What I wanted to say: Yes, I make about $30 per month delivering these papers, so it is entirely normal for me to carry around a month-and-a-half's pay in my pocket. Lady, have you got change for thousand dollar bill?

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On the porch, but not too close to the the flowers, on the driveway so the dog doesn't bark, over the side fence etc.. You learned what your customers wanted or else the tips would be bad. Tips could range from a quarter to $2.00 : )
I was very conscientious. I had a lot of hills on my route, and one very large hill had just a single customer on it--at the top. I tried to get "starts" on that street, but nobody wanted the paper. I was climbing that dang hill every day for that one customer--two cents per day. And no tip. Well, after about a year I began trying to get them to quit--I threw the paper on the roof, in any standing water, gave 'em the paper from the top of the bundle (kinda torn up).--they'd never quit, they'd just call and complain. I suppose it served me right.

Ahh, the feel of a snapped rubber band on nearly frozen fingers while folding papers on a winter morning. Spicy language ensued . . .

Welcome to the board!
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Old 05-15-2016, 10:19 PM   #20
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I had a morning paper route and fancied myself a modern-day coureur des bois. I used to sling my paper bag over my back with the shoulder strap over my forehead. I can remember falling over backwards on occasion, dragged over by the weight - usually with the Saturday paper. When I rode my CCM Mustang I was able to rest the bag on my banana seat for relief. I remember detesting March - nothing worse than rain and slush and temps right at the freezing mark. Good times.
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