Are you stressing out about saving money? No sweat: these seven money-saving habits from the 50s will guarantee you’ll have it made in the shade in no time.
Save for Emergencies
The modern spender might save for a new phone or vacation. But the 1950s was hot off the heels of The Great Depression, so many consumers were savings for potential emergencies. That’s still a smart move today; set aside money into an emergency fund to help out when unexpected expenses inevitably come your way.
Plan for Major Life Events
While the 2.5 kids and white-picket fence dream might be fading from sight for some, the 1950s still had the right idea by being prepared for larger life milestones. This means having specific budgets for larger purchases or life events, like buying a home or planning a wedding. But this also includes investing money in your future self, so don’t forget about retirement contributions and long-term saving goals.
Become Self-Reliant
Why pay for someone to do something you can do yourself? People in the 1950s didn’t bother and neither should you. You can save significantly by learning skills like cooking, gardening, and home repairs. You’d be surprised what you can accomplish with a bit of research and some basic tools.
Buy In Bulk
The 50’s saw an increase in families purchasing non-perishable food items in bulk. Provided you’ll use the items in time, this is still an effective way to save money on groceries. Staples like rice, pasta, and canned goods are much more affordable in bulk. Just remember to store everything correctly so it doesn’t spoil.
Live Simply
The 50s were a simpler time, and that isn’t just because there was no internet. But truthfully, the internet isn’t without blame here; part of the reason spending gets out of control is that everything is so easy to access. It wasn’t nearly as convenient to get clothing or food as it is today. And while that’s beneficial in some respect, it’s gotten so warped that we’re constantly buying things we don’t need. Embrace a simpler life and cut back on spending on… well, everything.
Invest in What You Buy
If you are going to buy something, spend wisely. Everything from fast fashion to suspiciously cheap electronics sells us one thing and gives us another. It’s not like something has to be expensive for it to be good. But buyers should beware and only purchase things that have value. That means things that are durable or high-end, while often slightly more expensive, are just better investments because they last significantly longer.
Make a Shopping List
How often do you go grocery shopping without a clear plan? It’s alright — we’re all doing it. But if we took the few minutes to write everything down, even if it’s on our phone, we’re much less likely to veer off and buy things we don’t need. Families in the ‘50s were avid meal planners, writing everything down and marking things off as they go, which is ideal if you can manage it.
