Micawber Principle, New Year Principles To Keep In Mind

Micawber Principle, based upon his observation:

"Annual income twenty pounds, annual expenditure nineteen pounds nineteen and six, result happiness. Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery."

Great Britain's pre-decimal currencies were Pounds, Shillings and Pence abbreviated £, s, and d. (Or as grandma used to say LSD, I think she had no idea what the other meaning of that was.) Thus "nineteen pounds nineteen and six" was £19/19/6d, six pence less than twenty pounds, and "twenty pounds ought and six", £20/0/6d, is six pence more than twenty pounds.

I'm sure I have written this in my blog before but the principle is well worth keeping in mind, for a new year.

Christy