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8 Money Saving Tips from the Great Depression

8 Money Saving Tips from the Great Depression

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November 11, 2009

The economy is sour and we have yet to see signs of the recovery in our own lives, but there’s no need to hoard every penny you’ve got and live in fear. Why? We’ve been through bad times before. And we didn’t just survive — we emerged even stronger and smarter than before. When? The Great Depression of the 1930s, for example!

Even with unemployment hitting 25% (imagine a fourth of your friends and family out of work!), people in the 30s managed to stay afloat, pay their bills, and even have some fun. Sounds impossible? It’s not. We just need to re-remember what we forgot. Here are eight ways — big and small — your grandparents kept things together that you can use too!

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Learn how to love used stuff

Instead of buying a brand-new sofa, TV, or car, check out online resources like Craigslist or Ebay for nearly-new big-ticket items. We know you’d rather buy new, but just think about how much money you can save if you buy something that’s just a year old. By putting up with a tiny bit of wear and tear you can save up to thousands of dollars. After all, cars lose a huge amount of their value the second they’re driven off the lot. And do you need the absolute latest TV model? Let some other sucker pay a premium for the most cutting-edge toy and put that money into a savings account instead!

Stay realistic

We hate to say it, but it could be that things just aren’t going to get better any time soon. While an optimistic attitude is key, put that can-do spirit towards making do with things as they are, not how you hope they’ll be. If you make penny-pinching a habit, it becomes second nature, leaving you to enjoy life to the fullest without worrying about the next disaster. By approaching your finances with a realistic attitude, you’ll be able to weather changes with grace and style.

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