Old Fashioned Money Saving Tricks That Still Work

by Susan Perna

Grandma didn’t spend money recklessly by spending it on unnecessary things like we do today. She was able to make her money go far by sticking to some old-fashioned tricks. See if they can help you improve your finances as well!

If you can’t save or manage your money, you’ve got to go back to the basics and that means being frugal by managing your money the old-fashioned way. Although the definition of the word “frugal” may be outdated, the truth is that being frugal can actually save you a ton of money.

Our grandparents were actually very frugal with their money, and we can learn a lot from them. Life was much simpler back then. Our grandparents did not have all of the modern conveniences like we have today. Technology has taken us to a whole new level and that technology is expensive, but we can still learn money-saving ideas from days gone by. Here are some tried-and-true old-fashioned money-saving tricks for spending less:

Pay with Cash

Credit card debt wasn’t an issue for our grandparents because they paid for everything with cash. It is always best to pay with cash like Grandma did because using credit cards can get you into a heap of trouble. According to the balance, the average American consumer owes a little more than $8,398 on credit as of June 2019, so giving up credit cards can save you big.

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Spend Less on Fun

This may come as a shock to some of you especially the younger generation, but our grandparents still had a good time without spending a dime and so can you. There are plenty of fun things you can do for free like going to the beach or park.

A typical trip to the museum or zoo costs around $25. Going to the movies isn’t cheap either. The average cost of going to the movies in North America in the first quarter of 2019 was $9.01 per ticket, according to the Box Office Mojo. If you are in the mood for a movie, you can snag a free advance movie screening pass online at AdvanceScreenings.com, which could save you around $9 a pop. Don’t forget to pick up a free ticket during free museum days, which could also save you $25 each visit.

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Ditch the Modern Gadgets and Accessories

As a nation, we have gotten spoiled and we have become addicted. In the not so distant past, cell phones and cable TV didn’t even exist. Our grandparents used a landline phone. Most people these days feel like they can’t live without modern conveniences, but the truth is we don’t need all that stuff. All of those modern gadgets and accessories are just pushing us further into debt.

According to a recent J.D. Power report, the average monthly cell phone bill is $73, and according to Quicken.com, the average landline bill is roughly $25 a month, so you can really save just by switching to a landline phone. You can save even more by hooking up to VOIP like Vonage or Ooma®. Vonage® costs $10-$28 a month, depending on which plan you choose. Ooma® costs as little as $5 a month. You can find an Ooma® device for less than $100 and a Vonage® device for less than $20 on eBay.

Cable TV is another wallet drainer. According to Fortune magazine, the average cable bill is around $103 a month. You could save at least $103 a month by switching to Broadcast, or you can buy an Amazon Fire TV Stick, which goes for around $40, or Roku for $35. By streaming only from the many available free apps, you could save $100 each month. That equates to a savings of $1200 per year!

Make Extra Money on the Side

Another way our grandparents saved money was by earning extra cash on the side to help pay the bills. There are several ways that you can do like Grandma did to help make ends meet including:

  • Set up a farm stand and sell your own produce and/or jams and jellies at a farmer’s market or at home for an extra few hundred dollars a month.
  • Chop fire wood and sell it locally at $3 a bundle.
  • Clean houses for between $25 and $45 per hour.
  • Make and sell homemade quilts or crochet afghans locally and on Etsy for $100 a piece.
  • Rent out a room for $100 a month.

As you can see, Grandma didn’t spend money recklessly by spending it on unnecessary things like we do today, and therefore she was able to make her money go far by sticking to old-fashioned ways.

Reviewed August 2019

You deserve a comfortable retirement.

Subscribe to After 50 Finances, our weekly newsletter dedicated to people 50 years and older. Each issue features financial topics and other issues important to the 50+ crowd that can help you plan for a comfortable retirement even if you haven't saved enough.

Debt ChecklistSubscribers get The After 50 Finances Pre-Retirement Checklist for FREE!

Your Email:

You deserve a comfortable retirement.

Subscribe to After 50 Finances, our weekly newsletter dedicated to people 50 years and older. Each issue features financial topics and other issues important to the 50+ crowd that can help you plan for a comfortable retirement even if you haven't saved enough.

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