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Home > The Thrift Club, or, Saving in the Great Depression (large image)
 

The Thrift Club, or, Saving in the Great Depression (large image)

October 2nd, 2007 at 06:03 pm

DMom and I were looking through my uncle's 1932 yearbook today, before she gives it to the local historical society.

I got a kick out of this page showing the Thrift Club, and was also quite impressed.



In the depths of the Depression, the students managed to add $2,500 in deposits to the school bank. In today's dollars, that equals $37,500! http://www.minneapolisfed.org/research/data/us/calc/

There were only a few hundred students at most, and it wasn't an affluent area. My grandfather had his hours cut to half-time, and felt lucky to have that. The culture of saving back then must have been really strong. Can you imagine 100% of a home room participating in a savings program today?

6 Responses to “The Thrift Club, or, Saving in the Great Depression (large image)”

  1. jdedit2001 Says:

    Interesting post. That's a lot of money they saved in a time when money was hard to come by.

  2. denisentexas Says:

    Wow, now that's impressive! I need to learn from that. Smile

  3. Ima saver Says:

    I am impressed too. My mother lived during the depression and the one thing she learned ( and taught me) is that you saved money and paid cash for anything you wanted.

  4. JanH Says:

    Cool post! Thanks!

  5. Stein Says:

    It is always interesting to look back and learn.

  6. PauletteGoddard Says:

    Coincidentally, a local bank started a school savings program in 1923, which apparently has grown and extended to several other states. I guess it's our version of the Thrift Club.

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