Saturday, October 26, 2019

US Savings bonds

A nice car:
 Chevy, EN   V  Electric (future)

I spent a lot of time in the military. Veterans sorta smile and look at me as  a goof off when they learn I spent 8 years’ service as E-3 and below, which I did. I tell people I am the best at cleaning toilets (Toilets & Latrines in the USAF, Heads in the USMC & USN)  The 8 years is because I started at the bottom in three branches of service. LOL

Somewhere along the line very early when I was promoted and received a $20 a month raise, we decided to continue our lives without the raise and buy a bond a month. To start with we bought a $25 bond, then the next promotion $50 bond. It became a habit. The first house we bought, the bonds made the down payment. 
 Note the punched holes In this case that is only the bond # and 2 digit amt.

Then later in life we decided to buy the grand kids bonds for Christmas.  We let them see the bond then took it back and put in our safe. They knew the bonds would be theirs at HS or College Graduation. We evened the amount out when each one took their bonds.
There is one drawback to US Bonds. When cashing them in you must sit and fill out name and address & sign each one. If you are doing 50 or a hundred you are there a long time.
Aside from that, it was the best way I could figure to save each payday. In a savings account it was too easy to withdraw and buy something on the spur of the moment.  It worked for us.
My job was operating and repairing IBM machines and the bonds were all IBM cards I could take them to work and make a list of them and keep a running total.
Nite Shipslog
Taken from a collection of notes left in milk bottles for the milkman, Enjoy:
**Milkman, please put the coal on the boiler, let dog out, and put newspaper inside the screen door.  P.S.  Don't leave any milk.
(These are actual notes kept for history by a milkman in England)


Mevely317 said...

Interesting about the punched holes!
I've no idea why, but my parents began doing the same thing when I was just a baby. While the amounts were insignificant, decades later when I was in need of a new car, they made for a nice down payment. I think Tom purchased a bond when his first grandson was born, but we didn't keep it up.

yaya said...

Great way to save and I'm sure the kids were thankful for the money when they graduated! Wish we had done this!

Woody said...

Interesting post, My Dad worked for an Electric Company, Niagara Mohawk Power Corporation, He started buying bonds then switched to buying Stocks and Bonds, in the company he worked for, at that time the stock was common and about $25.00 per share, If you bought one share a month back in the 20's Ni-Mo also gave you a share, the shares were made out to "Pay to the Bearer on Demand" $25.00. My Dad worked for Ni-Mo, (Niagara Mohawk) for 44 years ! Busy day today, tired, have a Good un !!! Love from Northern New York ! Gary an Anna Mae

betty said...

Never bought a bond. Don't know why I didn't, LOL. Seems like you and Sherry were wise to have done so!


Lisa said...

This was interesting. Nick had or still has bonds. I never knew what they were til I married him.

From the East Coast