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What Your Grandparents Knew About Money

A child putting money in a jar, surrounded by parents grandparents
Saving money for the future

It’s not likely that Grandma is a master of the latest iPhone device, or Grandpa could beat you in a game of Mortal Kombat on the Playstation; but chances are they understood money a lot better than you do.

Ultimately, your Grandparents knew how to manage money because their lives were probably much more difficult than yours. The things we take for granted were often scarce back in the middle of last century.

So how can we learn from the financial habits of our grandparents, and how do we beat our own bad financial habits? Well that’s what we’re going to explore today.

Your Grandparents Used Cash

Yes, while it is convenient and easy to scan your credit card and skip merrily out of the shopping centre with all your new stuff – if your grandparents couldn’t afford to buy something – they didn’t.

With everything available to us these days, like credit cards, it’s easy to become decadent. So next time you rush to the store to buy the leather jacket you saw in the catalogue – pay with cash and make sure it’s affordable.

Your Grandparents Weren’t Wasteful

Couldn’t fit in those other two leftover sausages from dinner? Instead of throwing them out, wrap them up and put them in the fridge for tomorrow’s lunch. What about the bottles of water you buy every day – why not use a drink bottle and refill it instead?

These are just a few of the situations where your grandparents would remain focused on limiting their spending. They knew that if they were to purchase one bottle of water each day for $2.70, it could equate to $985.50 per year. To them, that might’ve been a whole month’s rent.

And do you ever wonder why Grandma spends so much time knitting and sewing? It’s because she has developed such skills from years repairing clothes, rather than simply throwing them away and buying new ones.

Your Grandparents Were Frugal

Frugality is difficult to come by these days. Our society thrives on buying the latest gadgets and eating the finest foods – but our grandparents weren’t so lucky. They kept things simple and made sacrifices where necessary. For example, if they went out and wanted to save money, instead of indulging in the best Pinot Noir, they may have considered drinking lemonade or water.

But what it all really comes down to is saving money by making the difficult choices. Instead of going away to the beach for a week, for example, you might want to stay at home and relax there instead.

Now that you know why your grandparents always had plenty of cookies and lollies to go around, don’t go rushing off to ask them for a short-term loan. Instead, contact one of our friendly consultants using our online chat or email us at info@spotmenow.com.au and you can ask about our instant loans which provide an excellent short term benefit if you need some extra cash.

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