THRIFT SERVICE

Evening Star, Issue 20252, 13 August 1929, Page 5

THRIFT SERVICE

A HEW BANK DEPARTMENT Since ifc was established at the beginning of the .year, the thrift service department of the Commonwealth G'overnraent Savings Bank has been of assistance to more than 2,000 people—generally of limited means, but in some instances actually allluent. The service, the first of its kind in Australia, is designed to show people now to make the most of their incomes, by running household and other expenditure on business lines, says the Sydney 4 Morning Herald.* Family budgets are analysed, provision' made tor every form of expense—rates, rent, insurance, food, recreation, and so on —and advice given on where economy could be effected. There is no charge for the service. One of its objects is to encourage saving, but the lirst requirement is to provide for present needs, in cases where the income is too small to leave any margin the client is advised that saving is out of the question, and an effort made to bring about a better balance between income and expenditure. Accounts may even be examined in the light of food values, and improved plans of diet drawn up to suit special cases. Requests for budgets are received from every class in the community. The bank has prepared over 100 for different applicants, and perhaps ten times that number, having had the principles explained, have made out budgets themselves. At one period re-' Quests were in hand from seven single men, twenty-four single women, five widows, thirty-eight families, and two private hospitals. One case is on record in which an income of £6O a week barely covered expenses. The bank examined the family accounts and prepared a budget, which maintained the former standard, yet permitted a saving of £450 a year. A widow with two children found-her-self in difficulties with £7 a week, until the department showed her how to manage her expenditure and save a substantial amount each week. On an income of £7 7s a week a man with a family was in despair at the idea of sen.ding his son to a certain school. An analysis of accounts showed that it was possible to retrench in two or three directions without any decrease in comfort. Tlio reduction was enough to pay for the boy to go to the school. Even with an income of £4 15-s a week a man with a wife and family has been able to save- Frequently old-age pensioners have been advised how to make their incomes go further than they thought possible. The department is controlled by Miss .Janet Mitchell, who gained much of her experience of home economy in the United States and Great Britain.