There is a reason one of the oldest age groups is referred to as the Greatest Generation. They were raised in one of America’s lowest financial points in history, the Great Depression, and had to grow up during a time where nearly no one had a substantial amount of money and there was no hope for a social security check to come in the mail. Not only did the Greatest Generation face this economic hardship, they also had to face World War II.
However, the economic turmoil did help them become the greatest generation at saving money. If you have a loved one from this time period and you are in charge of their senior living costs, check out this article for help with payments.
Brickmont Assisted Living, with senior care communities throughout the Atlanta, Georgia, area, respects the older generation and believes there is always something we can learn from them. We're sharing a lesson from the Greatest Generation on how to be frugal to save money and make ends meet.
Use it All
It is so easy to be wasteful and just toss your nearly empty tube of toothpaste and grab a new, fresh one. The first lesson to make savings is to use it all to the very last drop. Be sure you squeeze out every drop of toothpaste or scrape out the very last bit of peanut butter from the jar - you can look at it as just a few cents, but those cents add up over time. Other small ways to save are using your apple cores as compost for a garden, investing in Tupperware for leftovers, and then actually eating your leftovers instead of making a new meal.
Wear it Thin
You don’t have to buy the cheapest T-shirt to save money. The best practice would be to buy a high-quality shirt. When the Greatest Generation tore their shirt or ripped their jeans, their families had to repair it or patch it up. They had no means to buy a new T-shirt every time one ripped. During the Depression, they would repurpose all types of fabric and never wasted some good cloth. Women would even fashion dresses out of potato sacks! Nowadays you can just shop at a thrift store or sell your own clothes for a few dollars.
Grow it Yourself
This is one of the best ways for any generation to save money. Instead of going to the store and spending five dollars on a container of tomatoes, you could pay 99 cents on tomato seeds and grow them yourself for endless savings! The Greatest Generation relied heavily on farming and hunting, especially during the trade embargos before World War II. When you have your own garden, you can grow multiple fruits, vegetables, and herbs. When you utilize a garden, you save money on buying items, you cook from scratch saving more, and you can then can or freeze the leftovers for future savings.
These are only a few ways to be frugal and save money. However, even small things can make a big difference when it comes to saving. Any amount can positively impact anyone’s budget. Take a lesson from the Greatest Generation and try to be a little better at saving. You can also subscribe to our Brickmont blog to learn other life advice and tips for seniors!