Thanks for voting!Growing up, almost everyone experienced the frugality of their grandparents. Without even knowing it, some grandparents are strict students of tightwaddery, saving pennies anywhere they can, and clipping coupons. But what if we all spent money like our grandparents? What if we sent $5 birthday checks to our nieces and nephews with notes saying, “Buy yourself something nice”? Or took our shoes to be re-soled instead of buying new ones? Or patched our pants? We can’t count the times Gram and Gramps have asked us to mow the lawn or paint the stairwell. (Who needs to hire someone?) Your grandparents may seem like financial fuddy-duddies sometimes, but we bet their bank statements are pretty much up to date. The Cheapskate Blog teaches us a few ways to carry on their thrifty ways.
Granted, things have changed. Dual-income households often need more than one vehicle, creating an extra expense that most grandparents would find unnecessary. Kids can be expensive, even if you have two instead of the litter of 12 your parents came from. But in this case, we really can learn from our elders. Sit down with Mom-Mom and ask her to give you some savings tips. Go grocery shopping with Pops to find the best deals. Compare your finances to the state of your grandparents, and save where you can.
What financial secrets have you learned from your grandparents?
Tags: Saving
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I think we are all spoiled a bit. My grandparents started with nothing and wound up owning homes and living an independent life after they retired. I do not know how they did it, but I would say that disipline had something to do with it.
THis is great topic bring back fond memories when I used live with my grand parents. I lived with grandparents back India as combined family almost I was 13years old. I learned tons from my grandpa especially. I used to go grocery shopping with him. He can get 1kg fish which sold $10 for just $4-$5 after bargaining. I learnt the skill of bargaining from him. I learnt hardwork always pays off. He was an hard work and worked till he was 70 years when the life span was just 75-80 years a decade ago in India. I saw him invest on homes. THat is a real estate investing. These tricks I have learned have stuck with me and helping me a lot these days with my money management. I can proudly say I am quite an haggler, smart investor and hard worker. I owe to my grandpa every bit. Glad this topic came up.
Since this financial crisis started I have been saying something similar, 50-75 years ago, people did not spend on credit cards, they made do with what they had - a nice family day was going to a park and not the mall. One TV if any was the norm not 2 or more.
I did not learn the full lesson until recently, when I turned 18 I got a credit card, bought cars on credit (which I still do but am more realistic about it), got into serious debt, because I had to have what everyone else had. I grew up had two cars for a two person household, even though we commuted to the exact same place everyday.
We moved recently, and sold one car, we now commute to different places, but one can ride a bike, its only 2 miles one way, we have a small credit card limit, and one card, we keep the limit low and only use it for travel, etc. Sure we do without some things right away but we can get them sooner than later if they are still important, we are debt free, except for the car and a small mortgage.
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