Revive These 3 Timeless Money Habits for Modern Financial Success!
The world we live in today is a whirlwind compared to the simpler times our parents and grandparents knew. Sometimes, their money habits might seem downright perplexing against the backdrop of today’s fast-paced economy. But as it turns out, there’s a treasure trove of wisdom tucked away in those “old-school” methods of managing finances that could serve us well today.
Finance expert and money mindset coach Vee reminds us that while not every penny-pinching tactic from the past still applies—like hiding cash under the mattress during the Great Depression—some timeless advice is worth revisiting.
Here are 3 old-fashioned money habits that deserve a modern revival:
1. “Your parents were right: You do have food at home!”
I can almost hear my mom’s voice as we passed the local drive-thru: “No, we have plenty of food at home!” It’s a mantra we could all benefit from embracing again as adults.
Perhaps it’s our way of rebelling against that childhood refrain. Vee points out, “Now that we’re older, we feel compelled to eat out every time the craving hits.” Yet, if we look at the numbers, it’s evident that we’re dining out far too often. According to USDA data, a staggering one-third of our calories now come from restaurants, a dramatic rise from just 6% in the 1970s.
Let’s not forget those pesky delivery fees too! “When it comes to getting your finances in check, moderation is key,” Vee advises. Your parents knew what they were talking about: there’s food at home, and remembering that can save you serious cash.
Sure, groceries can be pricey, but they’re still cheaper than splurging $30 on a burrito delivered right to your door. Hit the grocery store and get creative!
2. Mastering the art of making do
“Overconsumption is skyrocketing these days,” Vee observes, “and it’s leaving many folks financially stranded.” Once upon a time, the “make do and mend” mentality was a part of everyday life—especially during tough times like World War II. That mindset has all but vanished from today’s culture.
Yet, there’s a glimmer of hope as younger generations begin to rediscover these roots. Those rustic Mason jar centerpieces at Millennial weddings weren’t just a trend; they signify a shift back to simpler, sustainable practices. Pickling and canning are among the old-school hobbies making a comeback, illustrating how saving money can also be a fun and rewarding pastime.
3. Embracing cash for everyday purchases
If you’re under 35, cash might seem like a relic of the past—those green pieces of paper and shiny coins that lived in your wallet before the digital age took over. But Vee argues that this traditional practice deserves a revival: “I love using credit cards for those reward points,” she says, “but they can quickly spiral out of control.”
If you find yourself overspending with plastic, consider going back to the basics. The old-fashioned envelope method—allocating cash for bills, expenses, and fun—might just be your best bet. You’ll quickly realize that you can only spend what you physically have in hand, making it easier to keep your budget on track.
The reality is, the tangibility of cash makes a difference. It’s a tactile reminder of your spending power, one that could help you build a healthier bank balance.
In a world where the past often feels like a different universe, let’s take a cue from our elders and bring back those powerful, practical money habits that can set us up for success today.
