It is no secret that our parents and grandparents knew what it meant to stretch and save a buck. They had a motto that went something like use it up, wear it out, make it do, or do without. And that is exactly what they did. They didn’t toss anything until it was used up all of the way, and if they couldn’t afford something, they did without. You can use these lost money saving tricks of older generations in your own life, which will greatly improve your financial health. Take a look below at some lost money saving tricks of older generations that still apply to life today and can really make a difference in your budget.
Lost Money Saving Tricks of Older Generations
1. Use it up.
Make sure you are making the most of your resources. Don’t toss that toothpaste tube before it is empty. Eat food before it goes bad to avoid the need to throw it out. When you make your resources go the extra mile, you are saving money by not buying new. You are also getting the most bang for your buck, using every bit of what you paid hard earned money for.
2. Wear it out.
Wear clothing for as long as it lasts, and try to do the same with shoes. Take care of socks, belts, purses, and other accessories as well so you get a good amount of wear out of them. When one of these items gets a hole, run, or stain, try to repair it yourself before calling it a loss. This is also a way to get more bang for your buck and avoid buying new.
3. Make it do.
Avoid buying new items if you have something that will make do instead. For example, don’t buy a new formal dress for an evening event; make do with one you already own or borrow from a friend. Don’t buy the new coffee maker you wanted, make do with the one you have even though it is a little slow and not very stylish. When you make do, you are saving money by using what you already have on hand.
4. Do without.
Sacrificing was something our grandparents knew a lot about. If you can’t afford something, don’t buy it. It is a simple concept, but for some reason one of the hardest ones to master. Try to pay cash for everything, and only buy new when your budget truly allows for it.
So, do you think you are ready to use it up, wear it out, make it do and do without? Our grandparents did, and they had financial freedom and responsibility that so many of us dream about. Give these tips a try and see how well they fit into your modern life!