Long-time readers know that I love old instructional films — the kind of thing we older folks used to watch in high school. (“Play it backwards!”)
Because the previous owners of Get Rich Slowly “unpublished” all of the old films I once shared, I get the joy of sharing them again with a new audience. Today, we start with a gem: “Your Thrift Habits“, a film designed to teach teenagers how to budget.
Produced in 1948 by Coronet Instructional Films, this 10-minute short is filled with great advice — and it's fun to watch too.
“Your Thrift Habits” highlights some important aspects of budgeting and thrift:
- “If you can do without extravagances, you can save regularly.”
- Be aware of your budget-breakers and try to avoid them. In the film, Jack's budget-breakers are movies, candy, and peach super-delights. Yours might be Starbucks or iTunes. In the past, comic books were my budget-breaker.
- “Buying cheap, unsatisfactory products is never thrifty.” When you can afford it, purchase quality.
- Sometimes you'll have to make choices. In “Your Thrift Habits”, Jack chooses to attend a football game, which delays his savings plan by one week. The key is that he chooses this course of action and accepts the consequences.
- Don't get discouraged if you fall behind. Jack falls behind once or twice, but he doesn't give up. He keeps saving.
- “When you save for a specific goal or purpose, it's easier if you have a visual reminder.” Tracking your progress can spur success.
- Money management gets easier with time. After you've kept a budget for a month or two, or after you've saved for one big item, it's easier to repeat the process.
It's been nearly a decade since I first watched this film. I still love it.
If you spot other short films (or cartoons) on similar topics, please drop me a line so that I can share them with everybody!
Author: J.D. Roth
In 2006, J.D. founded Get Rich Slowly to document his quest to get out of debt. Over time, he learned how to save and how to invest. Today, he's managed to reach early retirement! He wants to help you master your money — and your life. No scams. No gimmicks. Just smart money advice to help you reach your goals.