Financiering
It is a question not so important how to save, as how to promote the growth of your savings.
It is sometimes an easy matter to know how to make money, but knowing how to keep it and especially how to place it where it will earn the most, consistent with its safe keeping, is a matter that needs careful consideration.
How many a hard-earned dollar finds its way into some visionary scheme; is invested in some fictitious, widely advertised enterprise, with agents on every hand offering glaring profits.
Beware of such financiering. Did you ever hear any of our old successful financiers diverting their idle surplus into those investments where almost unlimited profits are assured?
The successful accumulator is not willing to take such chances. They look too flattering.
You cannot and should not expect something for nothing. Seek the best, and if it sometimes appears costly, it will always prove cheapest in the end.
The really judicious investor does not expect the highest rate of interest, as he is aiming to get gilt-edged securities. Securities with the largest margins are naturally entitled to consideration and a lower rate.
The savings bank should only be the primary department in accumulating.
The moment a savings account has grown to a sufficient proportion, the prudent one will seek a larger field in order to reap the benefit of a more profitable and safer investment.
But then the question will arise: "What is the course to pursue for one not having had previous experience in such conservative precautions?"
As the specialist makes a specialty of a certain kind of practice, so does the expert investor make a specialty of placing money on certain kinds of securities, and as confidence is the most important factor in this commercial world, careful inquiry and investigation as to the reputation and method of such a specialist, should prove relief to this would-be investor of all anxiety and worry in placing his idle money to the best advantage.
Think prudently, act judiciously, place your confidence accordingly, and your success financially will be assured.
November, 1894.