I just read a great article about “5 frugal lessons from the Depression” from Bankrate.com and want to share it with you and elaborate on it a bit as well. Here’s the link to the slideshow and the article.
Here’s my summary, thoughts + ideas from these lessons:
Lesson 1 – Buy items on lasting value
This is the lesson that allows you to buy that expensive nice purse, if it’s full leather! A nice leather purse will last and look fancy for years! Buying one lasting item saves than repeated buying of cheap items that break down.
Lesson 2 – Health is priceless.
I love how this article states it, “Don’t place frugality over nutrition; health is priceless”. Pretty simple, make your own health a priority. Check out Katherine’s Blog, A Daily Dose of Natural (she’s a certified nutritionist) who offers free advice on her blog posts!
Lesson 3 – Look for efficiency in buying appliances.
You pay to power these things; so the more efficient it runs, the less it costs in the long run!
Lesson 4 – Consider ‘multiple use’ items!
Baking Soda can be used for a multitude of different tasks around the home,…just ask Martha Stewart,…it has uses from cleaning to being added as an ingredient in Irish Soda Bread. Other wonderful items to try out with multiple uses are Witch Hazel and Vinegar.
Lesson 5 -Hmmm…
Okay I’m going to leave this last one out…because it’s about home improvement. And while that’s a good idea for you if you own your home already, I am not exactly advocating buying a house today. Many people think buying a house is an investment, but I say, buying a house is buying a home. Only buy it if you are planning on living there a long time and if it fits your needs!