8 Old-Fashioned Frugal Living Tips Everyone Can Learn From the Baby Boomers

It’s a common refrain among millennials that their parent’s generation, the “baby boomers,” had it easier regarding finances. 

The cost of living was lower, education was more affordable, and the job market was more promising. This is all true, but people in that generation also lost some old-fashioned frugal living habits over the years. While these old-fashioned frugal living tips aren’t going to make you rich or make the cost of housing what it was in the “olden days,” they will help you stretch your dimes a little more. 

The key across all these tips is embracing a frugal, mindful approach to spending and looking for creative ways to reduce costs through self-sufficiency, reusing/repurposing, and delayed gratification – timeless principles that can benefit millennials today just as they did for the boomer generation.

Here are eight money-saving hacks your parents likely utilized and how you can adapt them for modern times.

1. Pack a Lunch

Boomers were masters of the humble packed lunch, which saved money on meals. They would prepare simple, homemade lunches to bring to work or school instead of buying expensive cafeteria or restaurant food. 

Bringing packed lunches to school or work isn’t bad, especially during difficult economic times. 

One UK study shows that workers brought 86 million packed lunches into the office in 2023, 57 million more compared with 2022. 

Reviving this tradition with a modern twist through budget-friendly meal prepping can be cost-effective for millennials. Prepare your food on the weekends for the week, and you’ll have healthy and cheap meals you can grab and go. 

2. Use Coupons 

Before digital savings apps, boomers diligently clipped coupons from newspapers and magazines. They combined these paper coupons strategically with sales and loyalty programs to maximize savings at grocery and retail stores. 

While more old-fashioned, this practice demonstrates being an intentional, savvy consumer. Now, of course, you can use easy coupon apps and cashback apps to do the same thing with less work. 

3. DIY

From home repairs to haircuts, boomers embraced a do-it-yourself spirit to avoid the costs of professional services.  

They learned basic skills like plumbing, carpentry, sewing, and cutting hair. Even if your parents haven’t taught you these things, you can easily learn how to do them with tutorials or classes. This can save you a lot of money instead of hiring professionals. 

4. Shop at Thrift Stores 

Before thrifting became trendy, boomers frequented second-hand stores for quality clothing, furniture, and household items at bargain prices. They appreciated repurposing and reusing items. 

Thrifting is, in fact, a much-loved activity. One study says that more than nine out of 10 Americans shop online for secondhand items. Last year, the secondhand market earned a whopping estimate of $53 billion in revenue.

You can try this by checking out thrift stores, garage sales, online marketplaces like Craigslist or Facebook, and apps like OfferUp to find affordable secondhand items instead of buying new ones.

5. Do a Staycation

With international travel less accessible financially, boomers got creative by exploring local attractions and regional destinations for vacations instead of expensive trips abroad.  They took road trips and explored their figurative backyards. Try finding hidden gems close to you and enjoy all the free or cheap things you’ve never done. 

6. Make it a Potluck 

Rather than hiring pricey caterers, boomers hosted potluck gatherings where each guest contributed a dish to share the costs.  You can revive this tradition for celebrations and parties by coordinating inexpensive potluck meals with friends and family instead of going out or ordering out. 

7. Start Bartering 

Before today’s freelance marketplaces, boomers commonly bartered services like childcare or handyman skills with friends and neighbors to avoid cash costs.  

You can look for opportunities to barter their skills and services with others in exchange for their needs rather than paying out of pocket.

8. Delayed Gratification

Perhaps the most valuable boomer mindset was understanding the importance of delaying major purchases through diligent saving rather than impulsive spending. According to a survey, American consumers spent around $150 on impulse purchases every month last year. 

Multiply it by the number of months in a year and then by the years you have this habit, and you can imagine how much impulsive buying can drain your wallet.

Set savings goals, avoid or reduce debt for wants versus needs, and practice patience to save up for big expenses rather than instantly gratifying through credit cards. 

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