Money Saving Tips From Older Generations

War Time Ways of Saving Cash and Living Debt Free

Aug 8, 2009

Money Saving Methods from the Older Generation, Emanondirect

A glimpse at the thrifty skills honed by the older generation during depression and war years can help the younger generation weather the storm of today's recession.

The frugal way many older folk lived meant many of them were hardly ever in debt and could generally pay the bills. Their money saving techniques may save the day for some of their cash strapped children and grandchildren who have been used to living more extravagant lifestyles.

Money Saving 'Mend and Make Do' Tips

Remember grandma mending socks, stockings and other items of clothing? The older generation did not simply throw clothes away and rush out to buy something new – clothes were carefully mended, washed and used again.

Old towels would be cut up, hemmed and used as kitchen rags.
Old used stockings would be washed and used to stuff small cushions or hand-made toys for children.
Worn sheets that were beginning to wear out in the middle would be torn in two and the selvage sides sewn together. Quilting was born out of the necessity to create blankets and bed covers from nothing more than worn and damaged clothes.
Clothes would often be made with fabric bought at sales. Scarves, gloves and winter socks were often hand made. Gifts were often hand-made – an item of clothing or home-made jams and preserves.

The principle remains the same, don't just throw an item away, think carefully about how it can be repaired or recycled. Make something by hand if possible – it can turn out to be a hobby that may end up saving money.

'Waste Not Want Not' Money Saving Tips

“In the war years it was not only immoral to waste food – it also was illegal," said Marguerite Patten, 92, who worked at the Ministry of Food in England during World War II and urges a return to those more thrifty days.

In those war years, people were encouraged to grow their own vegetables. Fresh lettuce, cucumbers, carrots, tomatoes and potatoes were among some of the vegetables planted. An excess of fruit and vegetables would be preserved for the winter months.

No kitchen scraps were wasted, all vegetable peelings, egg shells and clippings would go to make a compost heap.

Today, families can try not to waste food or buy too much food that will pass its sell-by-date before it is used. Try growing vegetables at home- a small patch of land will yield enough fresh vegetables for a family of four. A hydroponics garden needs even less space.

Living Debt Free

Budgeting in past decades usually consisted of jars or marked envelopes into which expenses and savings would be divided.

Something would generally only be bought if there was an absolute necessity, and paid for cash. The older generation could distinguish between wants and needs.

Saving regularly was a way of life and children were encouraged to save and grew up being told not to live beyond their means.

Everyone knows that part of the financial mess of today has to do with the modern generation's penchant for over-spending, leaving most of people in need of advice on money matters. Fortunately, there are many resources available. Besides consulting with grandma and grandpa there are many online resources and forums to help the budget-conscious to recycle and save money at the same time.