10 Old Fashioned Money Saving Tips from Grandma (2024)

Old Fashioned Money Saving Tips

I’ve always been interested in what most people would call “old fashioned homemaking”. Our Grandparents and Great Grandparents lived through some tough times and have so much that they can teach us about thriftiness and making do, being content with what you have and many other lessons! I know I learned so many useful things from my Oma (German Grandmother). Have you ever wondered how people saved money back in times when money was super tight for everyone (like the Great Depression)? There are actually a number of ways that people in the past saved money, and they’re definitely still applicable today! Take a look at these 10 Old Fashioned Money Saving Tips from Grandma! There’s way more than just these 10 old school money saving tips but I consider these the main and most important frugal living tips.

10 Old Fashioned Money Saving Tips from Grandma (1)

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All of these old time money saving tips would be even more powerful if combined with a good budget! And unlike your grandma, we’re lucky enough to live in a time where budgeting is easier than ever before! You can use our free printable simple budget worksheet to make your first budget, or use abudgeting tool to make your current budget even more effective!

10 Old Fashioned Money Saving Tips from Grandma

1. Make Your Own

Only in recent times has it become so simple to buy every single thing in a store. Up to a hundred or so years ago, people had to make a lot of things by hand, and even if they could buy some things in the store, many choose to make their own versions to save money (and it’s healthier as you have no additives or preservatives). If you want to save money, you should try this frugal tips. Start out slow and simple so it’s not overwhelming. Make your own cleaning supplies, your own DIY beauty products, your own gifts! You’ll learn important skills, save money, and it’s fun and something the family can help with! I have tons of posts on how to make things from scratch. Here’s my copycat Bisquick recipe to get you started.

2. Grow Your Own

In your grandma’s time, it would have been considered strange to consistently have to buy packaged “fresh” herbs at the grocery store to use in recipes. Instead, people kept herb gardens, or just small pots of herbs on their kitchen windowsills. And whether they were growing food in a victory garden, or just growing food for the fun of gardening, most people had a good amount of fruits and veggies growing in their backyard, or on their windowsills. In this era of genetically modified and less-than-natural food, growing your own food is even more important. And since it can also save you money, it’s a win-win!

3. Preserve

If you’re something of a wasteful person when it comes to food, your grandma likely would be pretty shocked to see you throw away scraps of food or let other food expire. Back in the day, people were very careful about using everything up. And if they couldn’t use up all of an ingredient right away, they’d dry it or can it. Nowadays you can do the same, or you could just put things in your freezer (much easier, but just as effective) or use a dehydrator! Here’s a free printable meal planner to help you plan your meals to try to reduce food waste. And here is how to can food, and how to properly freeze food to prevent freezer burn.

4. CutYour Own

If there’s any of these old fashioned money saving tips that you should follow, it’s this one- cut your own food. Have you ever noticed how a whole watermelon is a more cost-effective purchase than a cut quarter of a watermelon? How a whole chicken is a better value than chicken parts? The minute a grocery store worker cuts food with a knife, the cost of that food goes up because that person has to be paid for their time. Pre-cut food is more convenient, but that convenience will cost you! So save money, and cut your own produce and meat when possible!

5. Use Cash

Some ofthe best old fashioned money saving tips may be the most difficult to accept. But trust me, using cash more than credit will greatly change your finances for the better! Credit cards didn’t come into existence until the 1950s, so you can bet your grandma’s family wasn’t using them in their day-to-day purchases. And while buying on credit in one form or another has pretty much always existed, people weren’t as keen on the idea until the easy to use credit card started becoming popular. Instead, people mainly paid with cash. If they didn’t have the money for something, they just didn’t get it. If you want to be frugal and save money, you should do the same! A great way to do this is with the envelope system!

6.Repair or Upcycle

Just as you shouldn’t let food bits go to waste, also don’t waste scraps of cloth, or throw away damaged furniture. Years ago, people did all that they could to make things last as long as possible. Now while you don’t need to be patching holes in your shoes, you should try your best to find new uses for old things, or repair damaged furniture. You’d be surprised just how much some hot glue or wood glue can fix. And you can turn all sorts of things (even old tin cans!) into something new and useful! Be creative, Use it up, make it do, or do without and you’ll save money!

7. Used vs. New

If you’re considering usingold fashioned money saving tips, one of the easier ones to embrace is the idea of buying used things more often than new. Years ago, people didn’t look down so much on used goods. Any car, used or new, was good enough for most people as long as it ran! And clothes were clothes, whether they were brand new off the rack or handed down from a sibling. So have the frugal mindset of the people from the “olden times” and start buying more used things than new!

8. Do Your Own Work

Convenience is great. It’s part of what defines this era. It’s also part of what defines most people’s debt problems. Convenience saves time, but costs money. So if money is tight or you need to save up, you need to do more of your own work and pay less for other people to do it for you. This means skip getting your furniture delivered and bring it home in your own car, or rent a truck to haul it yourself (if it makes financial sense). Cut your own lawn, clean your own gutters. Rent your own power washer to clean your driveway yourself. If you can, paint your own home. You’ll spend time doing the work, sure, but you’ll save money and get the pride of knowing that the great job you’re admiring was accomplished by you!

9. Don’t Go Disposable

We all throw away way too much these days. Back in the times of the Great Depression, people wouldn’t dare buy rolls of paper towels that they had to replenish weekly. And they definitely wouldn’t use paper plates when they barely had the money to put food on the table! Instead, they’d use reusablethings.If you want to save money, buy or make your own reusable items. You’ll save a lot of money in the long run, and it’ll also be better for the environment!

10. Research Purchases

People in the early 1900s and earlier would probably be shocked to see how impulsively many of us shop these days. Back then people knew the value of money, and as a result wouldn’t part with a penny without being sure of the validity of a purchase. They’d compare prices, research different models, try things on, etc. And for most families, if something was more of a want than a need, they wouldn’t even consider it. If you adopt similar approaches to spending money and making purchases you can save a lot!

These Depression Era frugal tips worked then and I’m sure they will work for you too!

Do you already use any of these old fashioned money saving tips?

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10 Old Fashioned Money Saving Tips from Grandma (2024)

FAQs

How can I save money in the old fashioned way? ›

5 old-fashioned tips for saving money that work
  1. Always keep track of your expenses. ...
  2. The envelope budgeting method. ...
  3. Instead of replacing items, do your best to fix them first. ...
  4. Take care of what you have. ...
  5. Be patient and really think through your purchases.
Dec 29, 2023

How to start saving money for dummies? ›

The 50/30/20 rule is a good starting point for many new savers:
  1. Allocate 50% of your income to essential expenses. Rent/mortgage, groceries, debt payments, car payments, utilities, etc.
  2. Allocate 30% of your income for stuff you want to purchase. Clothing, entertainment, travel, etc.
  3. Allocate 20% of your income for saving.
Apr 12, 2024

What is the 50/30/20 rule? ›

Those will become part of your budget. The 50-30-20 rule recommends putting 50% of your money toward needs, 30% toward wants, and 20% toward savings.

How can a 50 year old save money? ›

How to save for retirement when you're in your 50s
  1. Set realistic goals.
  2. Tackle debt.
  3. Take advantage of catch-up contributions.
  4. Create a health savings account.
  5. Make the most of Social Security.
  6. Generate income beyond investing.
  7. Don't abandon stocks in your portfolio.
Jan 10, 2024

How to save $10,000 in 5 years? ›

5 simple ways to save $10,000
  1. Reevaluate your utility providers. Once you pick your electricity, phone or internet provider, it's easy to become complacent and not look for better options down the line. ...
  2. Cut back on eating out and takeaway. ...
  3. Reduce your entertainment costs. ...
  4. Set up automatic saving payments. ...
  5. Buy second hand.
Sep 23, 2022

How to invest $1000 for a child? ›

How to invest $1,000 for a child? To invest $1,000 for a child's future, consider opening a brokerage account or a custodial account, or look into a 529 college savings plan with gifting options.

How to save $10,000 in 12 months? ›

To reach $10,000 in one year, you'll need to save $833.33 each month. To break it down even further, you'll need to save $192.31 each week or $27.40 every day. These smaller chunks are much more realistic and simple to comprehend, making it easier to track your progress.

What is the 7 rule for savings? ›

The seven percent savings rule provides a simple yet powerful guideline—save seven percent of your gross income before any taxes or other deductions come out of your paycheck. Saving at this level can help you make continuous progress towards your financial goals through the inevitable ups and downs of life.

What is the 3 saving rule? ›

This model suggests allocating 50% of your income to essential expenses, 15% to retirement savings and 5% to an emergency fund. This plan allows you to meet your immediate needs and plan for the future before you spend on anything else.

How can I save my first $100000 fast? ›

Five tips to help you save $100,000 faster
  1. Live below your means and cut frivolous spending. ...
  2. Be hyper-aware of every monthly expense and ruthlessly cut back to save faster. ...
  3. Pay down high-interest debts like credit cards first. ...
  4. Find the financial institution that will get you the highest interest rate.
Mar 27, 2024

How to save $5000 in 100 days? ›

The 100-envelope challenge is pretty straightforward: You take 100 envelopes, number each of them and then save the corresponding dollar amount in each envelope. For instance, you put $1 in “Envelope 1,” $2 in “Envelope 2,” and so on. By the end of 100 days, you'll have saved $5,050.

How to save money as a 12 year old? ›

Reflections
  1. Start with a Piggy Bank. A piggy bank can be a great way to teach your kids the importance of saving, while giving them an easy way to do it. ...
  2. Open Up a Bank Account. ...
  3. Use Savings Jars. ...
  4. Create a Timeline. ...
  5. Lead By Example. ...
  6. Start a Conversation.

What is the 30 day rule? ›

The premise of the 30-day savings rule is straightforward: When faced with the temptation of an impulse purchase, wait 30 days before committing to the buy. During this time, take the opportunity to evaluate the necessity and impact of the purchase on your overall financial goals.

How to save $1,000 in a year? ›

Arrange to have a portion of your paycheck directed into a savings account. This will eliminate temptation and the opportunity to spend that money. This should be in addition to the money you're automatically saving for retirement. Just setting aside $84 a month will net you $1,000 in a year's time.

How to save $1,000 cash? ›

11 Easy Ways to Save $1,000 in 30 Days
  1. Create a Budget. ...
  2. Automate Your Savings. ...
  3. Create a Savings Bingo Sheet. ...
  4. Negotiate Your Bills. ...
  5. Separate Wants From Needs. ...
  6. Plan Your Meals. ...
  7. Buy Generic Brands. ...
  8. Cancel Unnecessary Subscriptions.
Sep 26, 2023

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