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StitcherBefore budgeting apps and finance gurus, people were making do with almost nothing yet somehow still thriving. In this episode, Jen and Jill go back in time to show just how timeless the tips from the Great Depression really are. Believe it or not, their wisdom and old-school ways still work today.
Frugality’s purpose is more than financial practices. It’s about what it gets you and being able to afford more of what money can’t buy.
Sponsors:
- Sale on challenge membership. If you know the Great Depression, you know Spam was that girl. But you know what lasts even longer than Spam? The Spam can. Durable. Reliable. Oddly shaped but surprisingly useful. If you want to be as steady as spam can consider joining our monthly challenge membership. You get a new money challenge every month that helps renew your motivation and keep you as consistent in reaching your money goals as spam can is in holding your shelf stable meat. Use code GREAT50 for 50% off your first month.
7 Best Money Lessons Learned From The Great Depression
The great depression did challenge many to create financial solutions that we can still learn from. Everything Abode presented 7 money lessons that were said to have been learned from the Great Depression.
What Jen + Jill have to say:
Jill reminds everyone that we have the power of the internet to look up anything and learn from scratch with ease! This will also help with value budgeting such as creating a spending plan, knowing where your money moves and goes, diversifying your budget, creating different investment and banking accounts, and spending less than you earn.
Meanwhile, Jen reminds us that being frugal is more than financial practices; it’s about what the financial practices get you–it’s about being able to afford more of what money can’t buy. Value saving up for retirement and keeping emergency funds. Lastly, there is a great lesson that we got from the great depression that for sure we’ve forgotten: eat at home.
8 Money-Saving Frugality Tips From the Great Depression Era
Money Crashers prepared 8 helpful frugality tips from the Great Depression Era that we may have forgotten today. The lessons this era has taught us are still as timely as ever.
What Jen + Jill have to say:
In all caps, Jill yells, “USE WHAT YOU HAVE,” This includes exploring substitutions in cooking, cooking, and just anything we already have and still need. Try researching for depression-era recipes, which may sound a little odd, but these are often made with inexpensive ingredients and just maximize the plethora of resources you already have. Many do not require meat or any animal product in their recipe. Start making your own cleaning products, beauty products, kombucha, canned food, and more! Be creative!
Jen hates food waste, and one tip she would significantly agree with is avoiding food waste. Try repurposing leftovers or extra food you couldn’t finish during lunch. You can also use less electricity by turning the lights off during the daytime, opening the window instead of the AC, or simply going outside! While doing so, don’t forget to focus on one main task!
What "depression era" tricks did your parents or grandparents teach you that you're still doing today?
Jill learned a lot from Gimba, her grandmother, that she still proudly does today, such as keeping and reusing tissue paper for gifts, sewing/mending, and buying second-hand.
While Jen’s grandma did not come from the depression era, she acquired this trick wherein she has a gift bag cabinet or her packet drawer where there are a ton of gift bags, tissue paper, and blank cards where she could reuse them. (left off talking about Travis turning off all the lights)
Bill of The Week
Thank you Kim for sharing your bill about a 6% raise you got and how you are utilizing it to send your doggie to obedience school
Thanks so Much for Listening!
Thanks so much for listening. We love love love reading your kind reviews of our book Buy What You Love Without Going Broke and we especially loved this one from:
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If you get your hands on any book, it needs to be this one!
I’ve spent a lot of time reading various personal finance books and I have to say this is hands down my favorite book. It’s so well done and it’s evident how much time the authors, Jen and Jill, spent on this. And I don’t just mean the time it took them to write the book - but rather the years of experience they collectively have between their own personal finance journeys and the others they’ve learned from.
I appreciate the holistic approach they take in this book. It’s not just another personal finance book giving you 10 tips on how to be better with your money. It ties in psychology and research with real life experiences and stories. I can’t recommend this book enough. If you’re looking for ways to live your life in alignment with your values and simultaneously make sure your spending is also value-based, then this is the book for you. The outcome is quite literally to help you learn how to buy what you love without going broke (kuddos on that title choice as well)!
If you want to check out our monthly challenge community head to frugalfriendspodcast.com/club to see what challenge we have coming up next.
Keep leaving us reviews on iTunes or Stitcher, and sending the screenshot to reviews@frugalfriendspodcast.com. And don’t forget to share your favorite quote from the episode by using the hashtag #FrugalFriendsNote. 😉
