Yarnstormer
Recycles dryer sheets
I came across my father's memoirs on my computer today and thought the readers here would get a kick out the letter my Dad transcribed that was written to my Mother by her father (my grandfather) Apparently Mom was asking for more funds 
(she was away at college)
Maybe this post should be in young dreamers?
I'd like to add that my grandparents, tho very comfortable financially, always had what would almost be considered a "tiny house" these days. They would custom build them. Very simple, lots of builtins etc. Their vacation house was one large room with murphy beds, a kitchenette and a deep water dock.
"Feb 24, 1953
This is to let you know that your marked improvement in grades has not gone by unnoticed - the improvement in your own feelings as a result is also evident - and very gratifying.
You'd be disappointed if I failed to bring in the plea for more and better yet and I would point out even Professor Einstein has not reached the Laurel resting point.
I have a theory that the Satisfaction gained from acquiring knowledge increases as the Square of Effort ex-pended (S = KE2) and assure you that you need not fear a point of diminishing returns.
Your political achievements are also noted and we are Very Proud.
Your financial difficulties are downright commonplace and I can find no single feature that is distinctive or engaging. Your managerial shortcomings are no doubt hereditary. In 43 years I have not been able to solve most of these problems.
Simply stated - Financial Solvency (and the very important suppression of mental anguish which it brings) is achieved and maintained by 1, increasing income above the level of expenditures or 2, reducing expenditures to a point lower than income or 3, a combination of these Basic Steps. Let me point out here that one of the greatest pitfalls for most is that many expenditures are related to time and go on relentlessly even tho' actual disbursement of funds is a periodic act (this is covered in your study of Accrual Accounting).
Good accounting (and good management) sets up a reserve to cover such items and contributes to it in a definite and orderly manner so that as liability increases, there is a corresponding increase in Assets and Balance is preserved. You will rarely find good management on a "Cash Basis".
Now let us divide Steps 1, 2 & 3 into 2 classifications - 1, those that we can do nothing about and 2, those which we can do something about.
I would say that at the moment you can do nothing about Step #1 (altho there is nothing wrong with trying and I'll give you an "A" for effort). Step #2 has definite possibili-ties and should be carefully examined. Step 3 need be considered only when positive action can be taken on Both 1 & 2.
I will confirm that my approach to this problem has been almost entirely thru' Step 1. This method has one substantial disadvantage. Control of income is difficult for most. As it is pushed higher a greater effort is required and less time is left to pursuit of life's happiness. (We find here many victims who have mistaken the pursuit of income for the pursuit of Happiness)
It is my opinion also that as incomes are carried higher the degree of stability is reduced and the margin of Safety over expenditure is therefore less certain and the danger of disruptive balance increases. - Furthermore we find, almost without exception, that the Human Animal is inclined to let expenditures increase with income. The net result being that increasing of income often fails to bring about solvency.
On the other hand, Control of Expenditure can be relatively stable and discipline, rather than ingenuity, imagination, drive or the restless enterprising spirit - is the required human quality.
Complete discipline is probably impossible and, I dare say, undesirable. But a liberal sprinkling of it is Very Effective and Enhances the opportunity of those who seek success. I highly recommend that you promote and encourage the growth of this prized quality."
(she was away at college) Maybe this post should be in young dreamers?
I'd like to add that my grandparents, tho very comfortable financially, always had what would almost be considered a "tiny house" these days. They would custom build them. Very simple, lots of builtins etc. Their vacation house was one large room with murphy beds, a kitchenette and a deep water dock.
"Feb 24, 1953
This is to let you know that your marked improvement in grades has not gone by unnoticed - the improvement in your own feelings as a result is also evident - and very gratifying.
You'd be disappointed if I failed to bring in the plea for more and better yet and I would point out even Professor Einstein has not reached the Laurel resting point.
I have a theory that the Satisfaction gained from acquiring knowledge increases as the Square of Effort ex-pended (S = KE2) and assure you that you need not fear a point of diminishing returns.
Your political achievements are also noted and we are Very Proud.
Your financial difficulties are downright commonplace and I can find no single feature that is distinctive or engaging. Your managerial shortcomings are no doubt hereditary. In 43 years I have not been able to solve most of these problems.
Simply stated - Financial Solvency (and the very important suppression of mental anguish which it brings) is achieved and maintained by 1, increasing income above the level of expenditures or 2, reducing expenditures to a point lower than income or 3, a combination of these Basic Steps. Let me point out here that one of the greatest pitfalls for most is that many expenditures are related to time and go on relentlessly even tho' actual disbursement of funds is a periodic act (this is covered in your study of Accrual Accounting).
Good accounting (and good management) sets up a reserve to cover such items and contributes to it in a definite and orderly manner so that as liability increases, there is a corresponding increase in Assets and Balance is preserved. You will rarely find good management on a "Cash Basis".
Now let us divide Steps 1, 2 & 3 into 2 classifications - 1, those that we can do nothing about and 2, those which we can do something about.
I would say that at the moment you can do nothing about Step #1 (altho there is nothing wrong with trying and I'll give you an "A" for effort). Step #2 has definite possibili-ties and should be carefully examined. Step 3 need be considered only when positive action can be taken on Both 1 & 2.
I will confirm that my approach to this problem has been almost entirely thru' Step 1. This method has one substantial disadvantage. Control of income is difficult for most. As it is pushed higher a greater effort is required and less time is left to pursuit of life's happiness. (We find here many victims who have mistaken the pursuit of income for the pursuit of Happiness)
It is my opinion also that as incomes are carried higher the degree of stability is reduced and the margin of Safety over expenditure is therefore less certain and the danger of disruptive balance increases. - Furthermore we find, almost without exception, that the Human Animal is inclined to let expenditures increase with income. The net result being that increasing of income often fails to bring about solvency.
On the other hand, Control of Expenditure can be relatively stable and discipline, rather than ingenuity, imagination, drive or the restless enterprising spirit - is the required human quality.
Complete discipline is probably impossible and, I dare say, undesirable. But a liberal sprinkling of it is Very Effective and Enhances the opportunity of those who seek success. I highly recommend that you promote and encourage the growth of this prized quality."
