Do the money-saving habits from decades ago still hold up in today’s consumerist culture?
While not all of them do, we’re covering six frugal findings from days past that still have merit in modern-day living!
Budgeting (Even by Hand)
You could always use your phone or an app to budget. But writing budgets down increases awareness and mindfulness about spending, which is why many people have found success with it! If budgeting has been hard for you, try using the old method of pen and paper or combine manual tracking with modern apps for even better results.
The Cash Envelope System
Many say we live in a cashless society, but this poses a major problem for those who want to focus on saving. The solution? Try an old-school tip and put aside cash in different envelopes. And if you don’t want to go full old-school and hoard money in a secret compartment, try adapting the envelope system for digital payments using prepaid cards or apps.
Buying In Bulk
If you know you’ll use a lot of something, it serves you to buy it in bulk, even if the ticket price is technically higher. Bulk purchases usually cost less, especially if you have access to membership clubs. Just remember to compare prices and focus on the unit price. This is a small number on the price ticket that tells you how much something costs per unit or ounce.
Try Journaling
Journaling has been a thing for mental health for decades, but many don’t realize it can even help curb your spending. Writing your thoughts about why you want to buy something can help externalize your feelings around it. This helps you evaluate your needs versus your wants and keeps impulse purchases at bay.
It also creates space and time between you and the purchase in question, giving you more time to reflect on whether it’s worth it.
Batch Cooking
No: buying an extra-large pizza and having it delivered for leftovers is not “peak leftovers.” While it’s smart once and a while as a treat, the best way to ensure you’re saving money and having leftovers is to meal plan and batch cook.
Use shopping lists to keep you honest in the store, try and reuse ingredients across multiple recipes (think rotisserie chicken or rice), and carve out some time in your week to sit in your kitchen and actually cook. It’s what everyone used to do, and it made the cost of living much cheaper.
Hiding or Freezing Your Credit Cards
Credit cards are a modern invention. And while they’re certainly useful for some and in certain situations, they’ve quickly become a financial crutch that too many people lean on. Instead of reaching for your credit card, resist the temptation by getting rid of it.
This could look like hiding your credit cards, freezing them temporarily, deleting saved credit card data from your phone and computer, or all three. Either way, if you don’t want to use your credit, do what people did in the past: pretend it didn’t exist (because it didn’t).
