Claude Hulbert comes home from his Home Guard training session and speaks with his wife about getting the house painted and buying some whiskey. Then he falls asleep and dreams his good angel and bad angel (both played by Hulbert)) argue on whether he should spend money or save for the national defense in this amusing short.
It's one of innumerable shorts produced by Ealing as propaganda/advertising pieces for various war efforts. This one was sponsored by the National Savings Committee. Ealing was in the thick of such propaganda pieces; like Disney in America, the studio was largely kept going by such pieces. It almost certainly contributed to studio head Michael Balcon getting a knighthood.