The אלטער רבי expected all members of his family to be careful what they spent money on. "Since my household is supported by the community, and our חכמים teach that the תורה is against wasting אידישע געלט , it is only proper that we are careful about how we spend our money," he would explain.
One time, when one of his grandchildren came to him wearing an expensive belt, the אלטער רבי questioned him, "Are you such a rich man that you should be wearing such an expensive belt?"
The grandson was silent. The אלטער רבי continued questioning him concerning money matters. "How much money did you receive as a dowry, when you got married?
"Two thousand rubles," answered the grandson.
"What are your plans for this money?" asked the אלטער רבי further.
"I am planning on giving it to a successful merchant. In this way I will be able to earn something on it."
"Perhaps," claimed the אלטער רבי , "he will not return to you either your money nor any interest?"
"That is impossible," argued the grandson. "This merchant is very wealthy and reliable."
"What difference does it make if he is wealthy now?" argued the אלטער רבי . "The wheel of fortune turns. In time, he could become poor."
"What do you suggest I do with my money?" asked the grandson, hesitantly.
"My advice to you," said the אלטער רבי seriously, "is to put the entire sum into this box." And with that, the Rebbe pointed to a צדקה box.
The grandson was sure that the Rebbe was joking. Two thousand rubles was a huge amount of money. He didn't think his grandfather was one to joke about such things, but still...
"I really mean what I said. I suggest that you give the entire sum to צדקה . In this way, the 'capital' and the 'interest' will remain intact. I am afraid that if you invest with some wealthy merchant, you might lose both."
The grandson heard what the Rebbe said and nevertheless, decided to invest his money with a merchant who was not only trustworthy and wealthy, but a תלמיד חכם , too. Several months later, however, a fire destroyed everything the merchant owned and he became very poor.
Later, when the Rebbe asked his grandson how his money was doing, the young man told him about the disaster which had happened to the merchant.
"Why didn't you listen to my advice and put the money in this צדקה box?" the Rebbe told him off. "Had you done that, then the capital and the interest would have remained intact. Why do my חסידים not trust the advice of their Rebbe? Let me tell you a story about the simple אמונה of the people of Volhynia.
"Once, in the middle of the bitter cold of winter, I was on my way home from visiting my Rebbe, the מעזריטשער מגיד . I was nearly frostbitten by the time we reached a Jewish inn.
'How long have you been living here?' I asked the elderly innkeeper.
'For nearly fifty years,' he answered me.
'And are there other אידן nearby? Do you have a מנין to daven with, people to celebrate the ימים טובים with?'
'On the ימים נוראים I manage to go to a nearby village to daven together with a מנין .'
'Why don't you live in that village so that you can be together with other אידן ?' I asked.
'How would I make a פרנסה ?' he questioned me.
'If ה‘ can support a hundred families, don't you think He can support one more?' I asked him. I also mentioned to him that I am a חסיד of the מעזריטשער מגיד .
He left the room immediately. Not more than half an hour later, I saw a few wagons parked in front of the inn, loaded with all kinds of household items and furniture. I saw the innkeeper near the wagons and asked him, `What is going on here?'
'I am moving to that other town, just as you told me,’ the innkeeper answered simply.”
"You see what strong אמונה that old man had in my Rebbe?" The אלטער רבי told his grandson. "I only had to mention that I was a חסיד of the מעזריטשער מגיד and he dropped everything immediately, including his home and פרנסה for fifty years. He was not even a חסיד . And you heard from me twice that you should place the money in the צדקה box and yet you did not listen.”