Stop financial troubles before they start
Money means nothing if it doesn’t bring happiness

By Mary Ann Curtis

For years, H.C. Nickel taught evening business classes once or twice a week at Indiana University’s Gary campus. Mary Ann Curtis, a columnist with the Post-Tribune in Gary, enrolled in one of his courses for the fall 1966 semester. H.C. died that October. This description of H.C.’s introductory session for a family finances class ran the following April 30. Adelheid Nickel sent the author a dozen roses.

“If you don’t want financial troubles, don’t let them start,” the instructor said at the beginning of the first class on family money management.

Unfortunately, the word came 23 years too late for this housewife of many years who suddenly found herself in school again.“Better late than never,” I told my husband, who had been slightly skeptical when I announced my intention of taking the course offered at the Northwest Campus of Indiana University last fall. He had “grown accustomed to my face,” explaining the little personal notes on my check book stubs, I guess. Anyway, he was dubious about any change that education might finally bring, having taught me over the years all that I presently knew.

But here I was, notebook clutched in my clammy hand, about to learn how I should have been handling household finances all these years.

Discipline essential

“Lack of discipline is one of the greatest causes of money troubles,” Hilbert C. Nickel, of the brokerage firm Harris, Upham and Co., told his class. (And I could nod my head with complete understanding of what he was saying, remembering the new hat which hadn’t been out of the closet yet.)

“We all want too many things too soon,” he continued. “We are caught in a pronounced wave of materialism, which is unfortunately taking the place of other values. We are selfish in our spending, thinking of what we want, versus something others in the family may need.

“Many of us are unaware that money is a fact of life — like love and sex — (I nodded). It has to be lived with, and an unrealistic attitude can lead to financial troubles.

“Of course, a series of misfortunes can get even the best of spenders in trouble, such as illnesses or accidents or home damage. But most of all, troubles come from a lack of understanding of the role that money should play in our lives.

“Our real goal in life should not be the acquisition of money,” Mr. Nickel said. “We brought nothing with us into this world, and it is certain we will take nothing out if it,” he quoted. (You will find religion in the strangest places!)

“Happiness should be the goal of money. Fun people are so much more pleasant to be with than aggressive people with their minds always on material things. We all know rich people who do not enjoy their wealth.” (I remembered my relative with three husbands, lots of travel stickers on her luggage, and all those strain lines around her unhappy eyes. She always seemed to enjoy her visits with the wild, poor cousins.)

Categories of unhappiness

“So,” Mr. Nickel continued, while I madly took notes, “the way to spend your money is to understand the nature of happiness and then divide however much cash you have to spend accordingly. Roughly, your money can be divided into three categories to help bring happiness: money for good health, money for current enjoyment, and money for important plans for the future.

“Health is very important. A sick person can be happy, but that is doing it the hard way. So the dentist, the oculist, the doctor, and the decent meals are worth whatever they cost ... and they should not be ignored or begrudged.

“Most of our money is spent each month on current living expenses, and it should be spent according to individual needs ... but for pleasure too. Here most people save pennies and waste much more by not appreciating value for each dollar spent.” For example, Mr. Nickel explained, “We spend one-third of our lives in bed ... but many people try to save money by buying a cheap, uncomfortable mattress.” (This made me think of the joy of our first electric blanket ... and to think I was spending one-third of my life under it! It had seemed such a luxury when we finally bought it after wanting one for many years.)

“And, supposedly, we spend one-third of our time at home. Therefore, we should be buying things for the home that will last ... and equipment to make the hours at home pleasant as well. The woman shouldn’t begrudge the price of a new broom or an ironing board, and the husband should have the tools that will make his tasks around the house less disagreeable. A hobby that is fun is worth the money as long as that basic rule about not being selfish at the expense of others is followed, and home events for the whole family are worth the money spent. Fun hours around an old piano that the kids are allowed to play will mean more than that gorgeous baby grand-of-the-future.”

Job should give pleasure

“The third part of our current lives, especially if we are men or working wormen, is spent at a job. It should be a job that gives us pleasure, with people who are congenial. If the job is not satisfying over a long length of time, then arrangements should be made to find something else, even if it means less money. Our work should give us pride and pleasure ... It is a real part of happiness.

“And finally,” Mr. Nickel summed up, “a part of our money should go toward our future in the form of savings, investments, education and so forth.

“Money is only as good as what it gets for you, and it should be bringing you happiness. But it is difficult to be happy if you are in the midst of financial troubles, which, incidentally, are cause for many divorces in our country. That’s why, if you don’t want financial troubles, don’t let them start.”

So ended the first session with Mr. Nickel at I.U. Since then, he has passed away and the class has been canceled until some time in the future.

As a housewife of 23 years, I wish some of his message had gotten through to me when I was beginning adult life ... But I am trying to do better even now. I spent a whole dollar for a new scrub brush this week, just because I like the grip of the handle, and I thought Mr. Nickel would approve. It was money well spent. It will give me pleasure while I do my work!