The story takes place in Austria, just after the First World War.

George, a young accountant falls in love with Margaret, a woman who has just graduated from high school. Their happiness is threatened by Margaret's extravagant spending on clothes, causing financial hardship. In order to pay off some of her debts, she takes a lover. George discovers this and orders her out of their home. She leaves her two little children behind, and moves to Salzburg.

She is unable to keep a job without giving in to constant advances, and changes lovers several times, until she is abandoned by a man with whom she falls in love.

Disappointed and bitter with life, she begs her husband to take her back. George had intended to remarry, but after an inner struggle, invites Margaret back for the sake of their children.

Due to the local town folks' ostracism of her because of her misconduct in the past, Margaret decides to leave her family and go back to work. George then marries the girl he loves.