Homemade Ravioli

A place for Quattrones, Betteridges, and Praticos to share our family stories, history, and heritage.

A Teenager’s Savings

IMG_2507 My mom found her mother’s savings account from 1928. Jennie Quattrone would have been sixteen years old.

The Philadelphia Savings Fund Society (PSFS) made a strong push in the 1920s for children to save. Among the first banks in the country do so.

Using an online Consumer Price Index (CPI) calculator, we can estimate that my grandmother’s first deposit of 0.15 cents had the same buying power as $2.08 today.

Her savings stops at $2.35 which had the same buying power as $32.53 today. By the way, just one month after Nanny’s last deposit, sliced bread was introduced to the consumer. The popular phrase, “the greatest thing since sliced bread” was coined from this time.

So, what could my Nanny buy with her $2.35 in 1928?

(Note: estimates from internet searches): A stamp was .01-.02. A loaf of bread was about .09. Wrigley’s Spearmint gum sold for about .39 a pack. A pound of cheese was about .39 as well. Twelve cakes of Ivory Soap cost .43. Tea was about .75 a pound… and I saw an ad for a woman’s leather handbag that cost $2.98. Almost there, Nanny!

IMG_2508

About Brian Kelley

Middle school teacher, co-chair of our ELA department, and co-director with PAWLP. Follow me on Twitter @_briank_.

One comment on “A Teenager’s Savings

  1. joanl777
    February 19, 2015

    Brian you are a true detective!

    Like

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Information

This entry was posted on February 19, 2015 by .
%d bloggers like this: