Many people look at our economy today and compare it to the times directly preceding the Great Depression in the 1930’s. The people of that time faced World War II, we face the War on Terror, they had problems with banks investing with other people’s money in the housing market, and we had the housing bubble pop in the not too distant past. There seems to be a lot of similarities between then and now, maybe we should take a look at the people of that era and learn some valuable lessons from those who went through one of the most difficult economic times in American history. Ask yourself this question: What did they do then, that we can do today?
Do you need the Stuff?
Do you really need that iPad?
During the Great Depression, people usually made do with what they had. We tend to want the newest, latest, and greatest widget to feel better, impress the neighbors, or to have a new shiny toy. Can you say iPad? If we learn to make do, or if we really need something (need not want), buy it used or second hand is better than buying new.
Save, Save, Save
Save a dollar, for every dollar you use.
The people in the Depression era saved money as best they could. Realizing that we must spend money to live, we can try to reduce spending it as much as possible. This sounds simple, but in application it is difficult for most families today. Fortunately we don’t live in as harsh of an economic climate as the Great Depression…yet. American families spend frivolously as a rule, even those concerned with frugality. A good rule is for every dollar you spend, save a dollar. Put back as much as you put out. If you try to do this, you will see how much you really spend unnecessarily.
Did you know we throw away hundreds of dollars every day? That’s right, by not using coupons, we throw away needless amount of money every day. By checking your junk mail or the latest Sunday newspaper, we could be saving a few dollars every day going grocery shopping. It is a must-do in today’s world. Today we also have the marvelous opportunity of shopping on the internet. As a rule, never shop online at a retailer without first looking for coupon codes or deals online for that particular retailer. Popular retailers always offer great discounts and you should first look for these offers prior to travel. Recently, I saw an Orbitz coupon offer that lets you get free hotel nights to Disney World Resorts. Imagine if a shopper does not use such an offer, he/she would have to pay an additional $200-$300 for each additional night. So as a rule – search for coupons and offers before shopping anywhere; whether in retail stores or online!
Saving isn’t just about money. We throw things away that we can use again for other purposes. For example, when you get home from the grocery store you unpack all the groceries from the plastic bags and throw them (the bags) away. Why not reuse them as trash can liners for small cans? Save money on trash bags and reduce some environmental concerns at the same time. Be creative by start looking at disposable items for alternative uses, you might be surprised what you come up with.
Save Special Items for Special Occasions
We tend to treat ourselves often. Just take a look at the ice cream and snack isles at your grocery store then next time you’re there. They are usually filled with people putting things in their carts. How often do you buy ‘special’ items? During the Great Depression, sweets and snacks were ‘special’ because they didn’t have them very often. We can learn a thing or two by copying this mentality. Only allow snacks or treats for special occasions. Of course, buy them when they are on sale or you have a coupon, but don’t buy them often. You’ll save money, be healthier, and have a greater appreciation for those ‘special’ items and events because they will actually be special.
Co-op yourself
During the Great Depression, people were short on money but they weren’t short on brains. If a roofer knew a tailor needed a leaky roof repaired he might offer to fix the roof in exchange for some clothing or mending of existing clothes. We can do the same things today. Make a list of things you have and things you can do, and then talk with friends and family to see what they have or need. You might be surprised what you can get for a bit of work or through barter and trade.
There are a lot of lessons we can learn from our elders. If you are lucky enough to have one in your life that lived through the Great Depression, even as a child, sit down and ask what they remember about life. Take some notes and see if anything can be used today. You might be surprised at what you can do to live more frugal tomorrow.
{ 1 comment… read it below or add one }
“During the Great Depression, people were short on money but they weren’t short on brains. If a roofer knew a tailor needed a leaky roof repaired he might offer to fix the roof in exchange for some clothing or mending of existing clothes.”
THIS IS EXACTLY WHAT THE PEOPLE OF GREECE ARE DOING RIGHT NOW! IT (BARTER) will be going mainstream, shortly, in the U.S., as the U.S. Dollar slowly reverts to its intrinsic value, which is ZERO, and collapses. It is a FAR MORE EGALITARIAN economy.
Remember, any item(s) you find extremely useful, or valuable, your family, friends, and local barter network will likely also find extremely useful or valuable (therefore, barter-able!, such as CLEAN DRINKING WATER, NON-GMO Food, Seeds, Salt, Herbs/Spices, Condiments, Bacon (jerky), as well as luxury items, like liquor, organic chocolate (like Newman’s Own), Personal Hygiene products, etc.)