6 Smart Money Lessons From The Frugal Masters Of The Past - Playing Perfect (2024)

One the best things you can do for your budget is take wise counsel from others to guide your steps. Fortunately, the smart counsel that lasts through the decades and even on into centuries often stays the same.Smart money lessons from the frugal masters of the past are just as applicable today if we are only willing to take note.

While we may not be living in a Great Depression or a Great Recession, those who did, modeled how to get by with little and sometimes not even miss what they used to have. There are tons of stories of Depression/Recession survivors continuing their frugal habits long after the Depression/Recession was over.

You too might try a few smart money saving tips from the financial masters of yesteryear and find you fall in love with frugality.Sometimes frugality becomes a way of life instead of merely a lifeline.

[bctt tweet=”Sometimes frugality becomes a way of life instead of a lifeline. #frugal” username=”perfectplaying”]

Are you pinching pennies and wondering how you can make it this month? Do you want to spend less and save more? Even if your debt is paid off and you have savings in the bank you could be wasting tons of money every month by ignoring tried and true money smart practices.

Let’s pay homage to the past and gather up hope for the future as we take a gander at frugality at its best.

#1Smart Money Lessons:Make Do or Make It Yourself

Basically, the whole DIY movement is founded in frugality. We can look to our Great Depression ancestors as DIY masters who could take over Pinterest any day with all their novel uses for the most run down objects or obscure trinkets.

Here are some smart money lessons centered on making the most of what you already have that could be applied to your present-day budgeting needs.

Think more strategically when you are in a financial pinch

Make do with what you own.Buy things you will keep or consume, don’t buy things you will throw away. Before buying anything ask yourself if you already have a similar item at home that you can make do with at least temporarily.

Feeling tempted to go out to Target for home decor especially around the holidays? Here are 50 DIY crafts you can make out of tissue paper you likely have at home. Trying to figure out how you can get by with what you have but make what you have into something more special? Here are a bunch of ideas for making use of old things in a new way.

Drive less and when you do go somewhere make your trips economical

Make do with what you drive.Go to the gas station that is next to the grocery store you are going to and combine all your errands into the most cost effective outing possible. If you do all your errands on one day you save time, gas, and are less likely to fall victim to impulse buys by the sheer fact of you not being exposed to marketing tactics as often.

Looking for more ways to save money on ever costly driving excursions? Here are 20 fantastic tips for saving money on gas.

Clean your house cheaply while responsibly

Make do with cleaning.Yes, use inexpensive, environmentally friendly cleaning products, but also consider making them yourself or using less.

Vinegar and baking soda will do most cleaning jobs around your home. The best part about these two natural cleaners is, they are both very low cost. Here are five easy and frugal homemade cleanersthat might lighten your environmental impact as well as the impact on your budget.

Do you use too much dish soap? Maybe your dishes could get just as clean if you watered down the dish soap and then it will last longer. Could your clothes get just as clean with a tad less detergent? There’s a good chance your clothes will be as clean as normal if you reduced the amount of laundry detergent some.

Take care of yourself cheaply while responsibly

Make do with self-care.How about body cleaning products? Are you drying your hair out by shampooing it every day while you could save on shampoo and water if you let your hair go longer between washes?

Instead of eating out as often, or drinking out as often (hello Starbucks addiction) perhaps you can learn how to make more recipes at home and even givehomemade lattes a try. You may end up having more energy and even lose a few pounds.

Remember, sometimes the best money saving tool you have is your own ingenuity.

[bctt tweet=”Remember, sometimes the best money saving tool you have is your own ingenuity. #savemoney” username=”perfectplaying”]

#2Smart Money Lessons:Just Ask

Sometimes smart money lessons are as simple as starting with the right questions. Before even thinking about what your money solution might be, think about if you are asking the right questions, to the right people, and at the right times.

Ask Smart Money Questions About Your Money

Smart money choices often start by asking smart money questions about your particular money situation. Whether investing for the first time, buying a new home, or shopping for a car, try to make your questions as good as they can be so you end up as happy with your decision as you can be.

Ask smart money questions about your money.Here are some questionsyou should think about asking before you decide to ever make financial investments. While stocks, bonds, and real estate can all be great, make sure they are great for you before diving in.

Ask smart money questions about your home.If you are on the market for a new home, questions can be your best friend, saving you from a disastrous financial purchase. If you are going to buy a home, ask these questions first.

Ask smart money questions about your car.Another area of smart money questions that can sometimes be forgotten in the times of impulse, are questions to ask when you purchase a car. If you are about to buy a used vehicle, be sure to take the time to ask these smart money questions first.

Ask Smart Money Questions to the Right People

Smart money decisions sometimes come down to asking the right money questions to the right people.

This is more than going to the right person to loan you some cash. This is about asking the right person for advice, asking people for discounts who are expecting you to ask anyway, and about asking people for money help who are prepared to help you.

Ask smart money questions to the people who know.Be honest, where do you go with your money issues? Do you figure them out yourself? Do you have a financial adviser? Whether you are getting your money tips from the internet, your family member, or someone you are paying for advice, be sure the person is informed and in the end always go with the decision you know is right for your needs.

Ask smart money questions to people who expect it.Haggling, which sounds like a not nice word just by the sound of it, has saved many a family, many a dollar.While haggling isn’t always wise, for instance, some people already have their prices quite low, there are cultures and occasions when it is expected and considered into the price. For instance, while traveling in India I was told to haggle if only to build relationships with people in my local area.

If negotiating just isn’t you, just don’t do it. As an introvert, asking someone to lower their prices at a garage sale can sometimes feel like giving yourself a heart attack, but this doesn’t have to be the case. Here are some situations in which haggling is totally something you should do.

Ask smart money questions to people who are prepared to help you.Finally, ask smart money questions to people who are prepared to help you anyway. One way smart money questions can be super useful is with your cable bill. My husband has called the cable people more than once and gotten our bill down. The service phone people are (hopefully) on the line to help you anyway, so let them help. Try to get low prices as often as you can, where you can, and cable is one, internet service or phone service is another, and car insurance comparisons might lead you to a lower deal as well.

Ask Smart Money Questions At the Right Time

Sometimes, just letting people know about your special circ*mstance and asking for a discount is all you need to do to save yourself some cash.

Ask smart money questions when you face an emergency. Perhaps your family has recently suffered a loss and you need to fly somewhere quick. Check to see if there are bereavement fares available that might help you out. While bereavement fares might not be the cheapest, they may be the most flexible. Contact your airline of choice and see what they can work out for you and your special situation.

Ask smart money questions depending on your age.Be on the constant look out for age-related discounts and special offers and make use of them. I have been out with my senior family members and need to remind them to use their senior discounts sometimes because they forget or aren’t used to having the discounts available to them.

Here’s a list of awesome senior discounts on restaurant dining. Also, sometimes kids can eat free or gain free admission to places. Be smart with your money and use your age and your family members’ ages to make the best financial decisions you can.

Ask smart money questions when you are a student.Are in you college for the first time or back to school once again? There are tons of advantages to being a student, one of them is the student discounts. No matter what you are paying for, ask to see if there is a student discount you can get. Here’s a list of 100 stores offering student discounts. Seriously, if you, your family member, or friend is in school, make sure these amazing discounts don’t go to waste.

So many money saving options are right around the corner after you politely ask for help. To be smart with your money, ask questions, always. Over time the questions you should ask will change depending on your circ*mstances, but no matter, keep asking smart money questions.

The next time you face a financial dilemma, instead of thinking “What am I going to do?” try thinking, “Okay, what smart money questions should I be asking right now?”

#3Smart Money Lessons:Consider Your Clothes

Did you know households in America spendover a $1,000 a year on clothes? That is a lot of money that could be spent on a lot of different things, or even saved or invested. In order to make the most of your money, and use smart money lessons lived by people in the Depression/Recession eras and employed by frugal people throughout the ages, let’s consider our clothing situations.

Whether you are in desperate need of a new outfit or you have so many clothes you are considering opening up your own clothing store, here are some smart money lessons that will make the most of all the options you have in your closet.

Consider the clothes you have

Consider your clothes’ maintenance. Clothes don’t have to be washed with every wear. Certainly, some clothes go from on to the hamper (like gym clothes or post DIY clothes) but if the clothes aren’t dirty and weren’t worn long, save them for another day and save them the wear and tear of the washing machine along with the water bill from the washing.

Pro-tip: Don’t wash your jeans with every wash! In fact, you can go as long as six months without washing your treasured denim!

Consider your clothes’ use.If you go somewhere fancy and wear your Sunday best just for a few hours at church or your pretty black dress only for that dinner and a movie date with your husband, very likely you can hang up your clothes once you get home and use them again next time.

Pro-tip: Need an item for just one time – such as a wedding dress or a funeral outfit – borrow it from a friend!

Consider your clothes’ re-use.You could sell your clothes that you aren’t using or turn worn-out clothes into cleaning rags or dog toys or rugs. Here are some ways your old clothes can become new items.

A super frugal hack is to unravel a knitted sweater and reuse the wool, perhaps even dying it, to make sweaters as Christmas gifts. Another awesome savings tip is to re-purpose junky clothes into yard work outfits.

Consider the clothes you want

Consider clothes deals.If you do need to buy clothes, try to spend as least as possible. I recommend shopping at Cents of Style (The trendiest, most affordable and empowering fashion place on the internet for women! This fashion haven also has plus size clothing! Can you tell I’m a super fan?!)

Shop off season (buy coats in summer) and from clearance racks or thrift stores and garage sales. Here’s a list of clothing deals throughout the year so you get the best prices all year long.

Another tip is to totally take advantage of Ebates as you shop online!

Pro-tip: Write yourself a sticky note (and stick it to your computer) to always log in to Ebates as your first step in shopping online and before you know it you’ll be getting a check in the mail all for just clicking on Ebates first (this is seriously one of the best ways to have extra cash in your wallet!)!

Consider clothes stores. I’ve gotten a lot of clothes cheap in the last few years from stores going out of business. In my area, there have been three big name stores who have closed their doors and before leaving for good, their prices were slashed unbelievably low.

Oh, my goodness just thinking about it I am wishing I bought more (That gorgeous down vest that my Seattle sister would love, I made a mistake not snagging it when I had the chance! Seriously – $5!).

Thrift stores are always a hit for many folks. Garage sales can be quite profitable as well, and some people fill their closets with deals found only on eBay.

Consider clothes sewing.You don’t need to go buy a new sewing machine and try to suddenly make all your wardrobe, but if you can sew you might want to use that skill. Clothes can be bought pretty cheaply now so instead of making your own though, it might be cheaper to shop the clearance racks or off season deals. Still, sewing can be cheaper for uncommon sizes or pretty party dresses. Also, your family members who are retired and love making clothes might enjoy making some stuff for you if you supply the materials.Look for fabric and patterns at Goodwill and on Craigslist.

Before you go buying new clothes for work, more clothes for your kids who are growing faster than your income, or you find yourself in need of a swimsuit for that upcoming vacation, ask yourself if you really need it, if you can borrow it temporarily, and if you do need to buy it, how you can get it for the absolute best price.

#4Smart Money Lessons:Save Paper

Ah, paper. The stuff that can hold your child’s artwork forever more or quickly go from the kitchen table to the trash.

One of the ways to be smart with money is to really look into your paper life. Beyond the standard steps in recycling paper and trying to use only what’s necessary, challenge yourself to see how you can do a paper overhaul in your house and put every single paper product to its best use.

Be Smart With Paper In Your Kitchen

Think about saying goodbye to paper plates and instead using the plates that are stacked in your cupboard. Commit to putting leftovers in reusable glass containers instead of paper or plastic bags. I feel better about using glass containers than I do about using Ziplocs and they look nice in my fridge!

Ditch the disposable napkins you throw away with one use, and paper towels that take up all that storage space anyway. Instead of paper napkins, try cloth napkins which can be used time and again and feel nice on the hands too. It can feel so easy to pull out a paper towel, wipe down the counter, and toss it away, but try to think of your money being tossed away too.

Be Smart With Paper When You Clean

Microfiber cloths might become your new best friend as they have become mine. Trade out your cleaning wipes and paper towels for microfiber cloths.

Microfiber cloths are popular for cleaning because they work just as well as traditional cleaning tools while leaving you with more money in your bank account, less trash to take out later, and the ease of knowing all the ingredients floating around in your air and on your counter-tops.

Pro-tip: Use different colors of microfiber cloths for different tasks or different rooms in the house (Oh yeah bathroom cloths you are not coming near my kitchen counters!).

Be Smart With Paper Used With Baby

If it works out to be cheaper (and it should) and is not stressful for you, you might want to try cloth diapers (emphasis on the “do this only if you don’t get stressed out” part).

Disposable diapers can be pricey so before you commit to going all cloth do the math to make sure your diaper costs will go down if you invest in cloth and also consider the water bill for washing the cloth diapers. If using cloth diapers creates a ton of stress for you though, look for other ways to save money instead. A mom with a baby has enough going on to add another stressor.

Be Smart With Paper In Your Bathroom

In an effort to save paper and money, consider forgoing the paper towels, paper napkins, cotton balls, and even reconsider using tampons and pads (yikes, you may be thinking I’m nuts here, but nope, one of the best purchases of my ENTIRE life is this baby!). Yep ladies, a paper reconsideration is with feminine hygiene products. If this totally grosses or stresses you out then certainly don’t do it, but many are huge fans (me over here, I’m allll about theDiva!).

Another way to save paper in the bathroom is with using less toilet paper. Maybe consider getting a bidet for less toilet paper use (my household is in love with bidets!).

Okay, I have not tried this next tip but some have said it is a real saver and I can understand why so I want to mention it. Some people, especially females, will cut up old clothes (that are too worn to give away or instead of giving them away) and use them for going to the bathroom (not all cases of going to the bathroom but the trips that are related to water if you get me). I can see people during the Depression/Recession eras doing this type of thing.

Be Smart With Paper In Creative Ways

Ready for some more paper reducing tactics?

Remember, sometimes being frugal takes creativity and a little stepping outside of our comfort zone but before we know it we like the new us and we like the new larger number in our bank account after having implemented strict money-saving habits.

Here are some smart money saving ideas with paper that go into just about every area of our lives connected to the papery good stuff:

• Digitize All Documents (Scan Yourself To Paperless Heaven)
• Donate Newspapers To Animal Shelters
• Donate Old Magazines To Nursing Homes
• Give Paper Used On Just One Side To Kids To Draw On
• Pay All Bills Online/Stop All Paper Mail Statements
• Print On Both Sides
• Read Ebooks Instead Of Paper Books Or Go To The Library
• Stop All Your Junk Mail
• Use Erasable Boards For Jotting Down Quick Notes
• Use Google Calendar Instead Of Paper Calendars
• Use Handkerchiefs Instead Of Tissues
• Use Digital Planners Instead Of Paper Planners
• Use Shredded Paper For Packing Material
• Wrap Gifts With Newspapers, Junk Mail, or Scarves You No Longer Want

Saving paper in your home and life can feel good on your conscience and feel good on your budget too. Smart money lessons begin with a willingness to try. Bravely challenge yourself to be more frugal with paper and see how little things add up to big savings.

If you can think of some more ways to save paper and save money too, please share in the comments and/or contact me!

#5Smart Money Lessons: Prepare

Lots of times, being money smart comes down to not being caught by surprise, and if a surprise does occur, being ready for that unexpected occurrence. To be like the frugal masters of the past, and to be a master over your own finances, learn to take a defensive approach that is based in preparation for anything that may suddenly come your way.

Being Smart With Money By Preparing For Celebrations

Preparing for birthdays. Financially preparing for something doesn’t mean you are preparing for something bad. Good things need preparation too. Instead of feeling embarrassed that you missed someone’s birthday, or spending more than your budget would allow if only you took time to shop for a great gift ahead of time, plan for upcoming birthdays.Here are some great tips for saving money on your next kid’s birthday bash.

Preparing for holidays.Holidays, both in terms of the Christmas and Easter kind and also the vacation and day off kind, all mean fun and possibly expense. If you are looking forward to enjoying your holidays to the fullest, try to prepare to the fullest. Make a budget, stick to it, and think of everything from the food to the babysitter.

Preparing for retirement.Retirement doesn’t just happen, there is some extensive preparation that goes into it. If you get not just your job ready, but your health, to-do list, and bucket list all planned out, you might get that dream retirement after all.Here are some important points to consider before retirement.

Being Smart With Money By Preparing For Emergencies

Preparing for job emergencies.Losing a job can come in many forms, some by choice, some by chance, some by crisis. If your job isn’t 100% secure (and what job is?!) try your best to do what you can to be ready for when that shock might come your way.

Here are some helpful suggestions for steps you should take if you happen to lose your job.

Preparing for natural disaster emergencies.We can work hard to take care of a lot of things in life, but when it comes to the wind, water, and sky, we can’t control a darn thing. You never know when a gloomy cloud will roll in and cause more damage than you can ever imagine. Be smart with your money by being smart with your disaster preparations.

• Here’s an extreme heat preparation resource.
• Here’s a tornado preparation resource.
• Here’s a hurricane preparation resource.
• Here’s an earthquake preparation resource.
• Here’s a flooding preparation resource.

Preparing for emergencies of loved ones.Sometimes we have emergencies, but sometimes the ones we love more than life have emergencies too, and we are their lifeline.

If your child, sister, or mother needs help, are you prepared to step in and pay for that medical procedure, buy that plane ticket, or open up your spare room? Set aside some funds to be ready for when your love will need to come in the form of money well spent.

Being Smart With Money By Preparing For Large Expenses

Preparing for college.Going to college, be it undergrad or graduate school won’t come as a surprise so you can certainly attempt to prepare for it. Whether it’s your child going to college in ten years or your husband wanting to go back to school next month, do all you can to prepare for expenses, stresses, and entrance exams.

Preparing for home buying. If you are buying your first home or you are going into the business of flipping houses or becoming a landlord, try your best to get all your numbers lined up and budgets in place so you know your boundaries and don’t let house buying fever take over your ability to pay for food and water.

Here are some tipson how to get ready to buy a home.

Preparing for appliancepurchases. Washers, dryers, refrigerators and stoves all are expensive and all don’t last forever. If you think you have a large appliance purchase in your future, do more than just wish for a good deal; give your time and attention to preparing for how much you will spend and how you can snag the great deal that will only last a short while.

Here’s a list of times during the year to purchase large appliances.

When it comes to preparing for your best life ever, your finances are a large part of that. Don’t let anything with a price tag take you by surprise or catch you underfunded or ill-prepared.

Do your best to prepare for every expense you might ever face and know that your smart money decision will pay off in more ways than you can count.

#6 Smart Money Lessons:Cut It Out

Cutting the cord is a great expression that applies to many things. To get super Depression/Recession era frugal, think about cutting the cord to all expenses in any way you can.

How can you cut the cord and save money and your sanity? Here are some ideas to try!

Smart Money Cord Cutting: See Ya Later Dramas

Cut the cord on your cable. People during the Great Depression weren’t sitting around their dinner tables discussing which cable provider to go with, they didn’t have cable. Just as people have survived for centuries without television you can too, and maybe will be the better for it.

Wanna go a step further, cut out the television watching completely. Just imagine all you could accomplish if you didn’t watch television! Here are some ideas for what to do instead of watching television.

Smart Money Cord Cutting:Not spending a dime

Cut the cord on your spending.Yes, think about doing a complete no spend day, weekend, week, month, or year (yep, people have gone that long!). You would be joining troves of others who are doing or have done the same thing. This can feel drastic, but also give drastic results.

If you think you’re game for a no spend challenge, here are some tips to get you started (You can do it! I’m cheering for you!)

[bctt tweet=”No spend month, here I come! Watch out budget, I’m going to own you! #nospend” username=”perfectplaying”]

Smart Money Cord Cutting:Turning the screen off

Cut the cord on your electronics.Have a technology free day (no screens of any kind allowed). Try making a nighttime electronics cut-off time as in no electronics (computers, TVs, phones) after 6 pm (you know it’s good for kids, well it can be mighty good for adults too!).

Not convinced you should reduce screen time? Here are some reasons it’s smart to limit kids’ time spent in front of a screen.

Smart Money Cord Cutting:How much energy can be saved

Cut the cord on your energy use. There are likely several energy leaks going on in your home on a daily and maybe hourly basis. Perhaps you can unplug lamps you hardly use because in the guest room nobody goes in there very often.See if you can go for a month without using your microwave.Use candles for dinner instead of lights (hello romantic dinner at home).

Here are some great tips for lowering your electric bill for any time of year.

Smart Money Cord Cutting:Maybe I don’t have to pay for that

Cut the cord on your extras. Maybe you are spending extra cash every month for services and fees you don’t actually use or need.

Instead of working out at the gym use your own home treadmill or step outside for one workout a week. Consider cutting out your weekly massage appointment and getting this at home massager instead (if you and your partner use it on each other it might turn out better anyway!).

If you’re wondering if all that eating out all the time is a smart money decision or not, you may want to look into all the prices you really pay for eating out (some of the cost isn’t money related).

Creativity and resourcefulness will skyrocket as you look for ways to cut out leakages from your wallet and you might start to question why you ever bought so much in the first place.

Sometimes we get caught doing things we didn’t really consider the cost of until long after we started. If you are spending money on something, be sure you need it, want it in your life, and are happy to be paying for it, otherwise consider cutting it out of your life for the good of your health, relationships, and of course your finances.

Being satisfied with your money situation doesn’t have to take decades to accomplish or a master’s in finance to figure out.

Look to the everyday actions of those who have lived and thrived in harsh economic times and see how you can heed their advice and make your money life the best it has ever been.

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