We’ve all heard the same classic money-saving tips passed down over the years: clip coupons, buy in bulk, make everything from scratch. While some of those habits still have merit, others just don’t hold up in today’s economy.
Prices have changed, technology has evolved, and let’s face it: life looks a lot different than it did twenty years ago.
Here are 20 age-old frugal living tips that just don’t cut it in today’s world.
1. Crochet
Crocheting and knitting might look like budget-friendly hobbies, but anyone who’s tried them knows how pricey yarn and supplies can get. Sure, you can try unraveling old sweaters or bargain-hunting at thrift stores, but in general, this hobby isn’t as cheap as it seems, especially if you’re aiming for quality.
2. Coupons
Once a money-saving staple, coupons just aren’t what they used to be. With most discounts being minimal (like 50 cents off five cans of soup) and restrictions on stacking or doubling, it’s often cheaper and easier to just grab the store brand.
3. Sewing
Sewing your own clothes sounds like a smart money-saving move… until you check the cost of fabric, patterns, and tools. Add in the time it takes, and you’re often better off buying ready-made clothing, especially with the rise of affordable, quality options at discount retailers.
4. Black Friday Sales
Black Friday used to be the holy grail of discounts. Now? Not so much. With sales happening all year round and retailers inflating prices just to offer “deals,” the savings are often smoke and mirrors.
Plus, those doorbusters?
Sometimes, they’re lower-quality versions made specifically for sales.
5. Long-Distance Calls After 9 PM
Remember when calling after 9 p.m. meant cheaper rates? That tip is as outdated as landlines.
With unlimited cell plans, messaging apps, and video calls, timing your calls for cost isn’t really a thing anymore.
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6. Buying a $500 Beater Car
Once upon a time, snagging a $500 car and driving it into the ground was a badge of frugal honor.
These days, finding a drivable car for less than $4,000 is nearly impossible. The costs of repairs, poor mileage, and safety issues make those old clunkers far from a good deal.
7. Loyalty to Your Bank
Banks used to reward long-term customers. Now? Not so much. Loyalty doesn’t guarantee better rates or treatment anymore.
In fact, shopping around, especially with online banks, can get you better interest rates, lower fees, and modern tools that traditional banks may not offer.
8. Hand-Washing Dishes
Modern dishwashers are incredibly efficient, often using less water than hand washing.
As long as you’re not pre-rinsing everything, you’ll likely save water, time, and energy by using the dishwasher instead.
9. Thrift Stores for Cheap Clothes
Once goldmines for budget fashion, thrift stores have become pricier as secondhand shopping has gone mainstream.
In many cases, new clothes from discount retailers are now cheaper than used ones, sometimes with better quality too.
10. Spend Only One-Third of Income on Housing
The old “spend no more than 1/3 of your income on housing” rule?
It’s become nearly impossible in many cities.
With rent and home prices skyrocketing, even modest places can eat up half a paycheck. Saving on housing now often means sacrificing location, space, or safety.
11. Avoiding Credit Cards
Avoiding credit cards used to be sound advice.
But when used wisely, today’s cards offer cashback, travel rewards, fraud protection, and more. Pay your balance in full each month, and you can actually make your budget go further.
12. Chuck Roast as a Cheap Meal
Chuck roast used to be an affordable, hearty dinner.
Now?
It’s often one of the pricier cuts.
Add in the weight from excess moisture and salt in supermarket meats, and it’s not the budget win it once was.
13. Canned Soup for Quick Meals
Canned soup has gone from pantry staple to overpriced disappointment.
The cost has doubled or tripled, and with smaller portions and fewer calories, it’s often not even filling. A homemade batch of soup or a quick stir-fry can be cheaper and more satisfying.
14. Driving Across Town for Cheaper Gas
Driving 10 miles to save a few cents per gallon just doesn’t make sense anymore, especially when gas prices fluctuate by the hour.
It’s often smarter to fill up at a convenient station with a rewards program that offers points, discounts, or cashback.
15. Staying in Hostels
Staying in hostels used to be a go-to frugal travel tip. But with rising prices and added fees, some hostels now cost as much as hotels.
While they can still offer community and adventure, the financial edge is no longer what it used to be.
16. Turning Off Every Light
Turning off lights when you leave the room used to make a big dent in the power bill, back when we used incandescent bulbs.
Today’s LED lights use so little electricity that the real savings come from reducing heating, cooling, or using appliances more efficiently.
17. Saving Water
Conserving water sounds like a great idea, but in many areas, the bulk of the bill is made up of flat fees.
Using less water might only shave a few dollars off your total. It’s still good for the planet—but don’t expect it to change your bottom line much.
18. Fast Food as a Budget Meal
Fast food used to be the go-to for cheap meals. These days? A combo meal can easily hit $8–$10.
At that point, you’re better off cooking at home or grabbing a quick meal from a healthier fast-casual spot.
19. Renting as a Path to Buying
Renting used to be seen as a stepping stone to homeownership.
Now, with high rents and stagnant wages, many people can’t save for a down payment. In some cases, it may even be cheaper to buy if you can manage the upfront costs.
20. Buying in Bulk
Buying in bulk can save money, but not always. Sometimes the bigger package actually costs more per unit.
Plus, if food goes bad before you can use it, you’re not saving anything. Always compare prices by weight or volume, and only bulk-buy what you know you’ll use.
