In these tough economic times, we may come to a point where we feel like we are fresh out of ideas for ways to save money and make our dollars go further. When this happens, it may be useful to look back in time and call upon the wisdom of our ancestors who survived the Great Depression. If you are lucky enough to know someone who lived during that time, they probably have many stories to tell about how they got through those lean years.
Some of the things that people did during the Great Depression make just as much sense today as they did back then. My favorite of all is a catchy saying, “use it up, wear it out, make it do or do without”. This little phrase is a good thing to say to yourself when you are contemplating a purchase. In fact, I thought about it today while I was taking a walk outside with my son. I was thinking about how I would like to get him a cute pair of rain boots soon, as mud season will be here in a few weeks and I would like for him to be able to experience puddle jumping and other springtime fun while keeping his feet dry. That thought led to “Hmm, perhaps I could get a cute pair of rain boots too.” Enter “the phrase”. Yup, I caught myself in the act of desiring a pair of rain boots when I have a pair that fit fine and are in good condition. Sure, they are not super cute or exciting but at this point my money would be better spent elsewhere. I wonder how many times that simple phrase has already saved me from unnecessary purchases, and how many more times it will work for that purpose in the future.
Bartering is another strategy that helped people to get what they needed without spending actual money on it. While fewer people today raise livestock or bake more bread than they need, bartering is becoming more and more popular. In fact, Craigslist and other web sites make it fairly easy to trade items that you have around the house that you don’t use for things that you would like to have but don’t want to pay for. Also, if your career is providing a service like tax preparation or massage therapy you may be able to trade those services for other services or items that you need.
Another great money-saving strategy from the Great Depression is to do things yourself. Convenience comes at a price, and sometimes there are substantial savings to be had by making even small changes like going from dining out multiple times each week to eating home-cooked meals almost every night. As an added bonus, when you cook from scratch, the meals that you make are more nutritious than those made with packaged foods so the benefit is more than economic.
Perhaps one of the most important lessons from the Great Depression is learning to make the most of what you have. People who lived through the Depression usually have great things to say about how friends and neighbors helped each other out and enjoyed many good times together despite their lack of resources. If we can allow that mentality to take hold as we learn to make do with less, we will not only make it through the current economic downturn, we will do so with a smile at least some of the time.