Learning to cook can save a lot over eating out.
Thought people can't seem to agree on what makes the American economy "good" or "bad" (with people's perceptions being heavily influenced by who sits in the White House at any given time), there's no question that economic uncertainty is on many people's minds. Middle-agers who lived through the Great Recession of 2008 and the COVID-19 pandemic of the early 2020s know how fast economic stability can falter, and youngsters have started their adult lives with unaffordable housing and education as well as post-COVID inflation driving up the cost of everyday living.
With a major upheaval of the U.S. government unfolding in early 2025, uncertainty seems to be the theme of the day. When financial instability hits, it's time to take measures to mitigate it however we can, and thankfully, we can learn a thing or two from our elders who lived through the money struggles of two world wars and the Great Depression. Frugality was a way of life for our grandparents and great-grandparents, and though times have changed—a lot—many of those wise ways to save money still stand. And the good news is that many of them are good for the environment and our health as well as our wallet, so
Here are some of the easiest, best frugal living habits we can take from previous generations:
Cooking can be fun and a money saver.
Photo by Jimmy Dean on Unsplash
Even with the cost of groceries being higher than they were, it's almost always significantly cheaper to eat at home than it is to eat out. Learning to cook is a useful and enjoyable (for many) hobby that can also save you money, as long as you're not trying to cook something overly fancy. Cooking doesn't have to be complicated, and it's never been easier to find simple recipes. There are even sites that will come up with a menu and recipes for you based on what you already have in your pantry. Stock up on basic ingredients, keep it simple, and find some favorite meals that you can whip up quickly and easily.
Meat is pricey—especially good quality meat—and with animal-borne diseases becoming more of a concern, animal products in general are getting more expensive. Perhaps now would be a good time to transition to more of a plant-based lifestyle, making more use of cheaper protein sources like beans. Canned beans are generally quite affordable, but dried beans are even cheaper if you don't mind taking the time to soak and cook them. If you have an Instant Pot, it's super easy to batch cook dry beans, which you can then store cooked in the freezer for quick reheating.
Bulk spices are often a fraction of the price of jarred.
Photo by Jason Leung on Unsplash
Spices in jars are stupidly expensive sometimes, and you might assume that's just what they cost. But if you've never shopped in the bulk spice section at a store—even at an expensive health food store—you might be surprised by how much cheaper it is. Leafy herbs like oregano, thyme, basil, and sage weigh almost nothing, so even if they cost $20/lb, a jar's worth is often pennies to the dollar cheaper than buying them already packaged. (Just beware heavier spices, as sometimes those can be just as expensive as jarred. Definitely worth comparing, though.)
When times are tough, getting by becomes a community effort, but there's no reason we have to wait for an actual economic depression to help one another out or scratch one another's backs. We all have things that sit around not being used much of the time that others might like to borrow, from tools to books. Trading services can be an excellent way to save money in a win-win way.
Growing your own food can save a bunch in the long run.
Photo by Sandie Clarke on Unsplash
During the pandemic, many people started growing WWII-style "victory gardens" simply because they could, but gardening can be a great way to save on produce and herbs. If you can start early in the spring and grow from seed, even better. Though learning to keep a garden thriving can be a little trickier than it looks, the savings can be impressive. For instance, one tomato plant can harvest 10 to 20 pounds of tomatoes, so even if you spend $5 on a starter plant, you can save a ton compared to produce section prices at the store. No yard? Gardening in containers works, too.
It may seem like a small thing, but lots of small things like cleaning products add up. Buying vinegar in bulk and diluting it 50/50 with water makes a great basic cleaner, and baking soda in bulk can help you scour surfaces as well. Vinegar smell doesn't last long, but you can always add a little essential oil to the mix to add some scent. You might need a stronger disinfectant for certain cleaning jobs, but for a basic cleanser, vinegar gets the job done.
So many foods we buy come in jars or containers, most which get tossed or recycled. Then we go out and buy containers for storing leftovers or other things. Aesthetically, I get it. But practically and financially, reusing or reutilizing containers makes more sense, even if you just use them once or twice and then toss or recycle. Plus, if you reuse jars or containers you're not planning to keep, you can write on them with a Sharpie without feeling like you ruined it.
Bike more.
Photo by Murillo de Paula on Unsplash
Americans love to drive and many of us do it far more often than we need to, spending more on gas than necessary. And even though gas prices have come down most places, it still isn't cheap. Combining trips or making a once a week "errand day" can help us cut down on driving. So can carpooling or biking or walking more.
Thrift store shopping can save a ton of money, especially if you shop around to various thrift shops to find the ones that actually have good stuff at low prices. Clothes especially can be a much better deal used than new, and no one will ever know the difference. Furniture is also a fraction of the cost used vs. new, and often older furniture is better quality anyway. Check Facebook Marketplace, Craigslist and other online markets for used items before running to the store or buying something new online.
Libraries usually have a lot more to offer than just books.
Photo by matthew Feeney on Unsplash
Public libraries are treasure troves of free stuff, and not enough people take full advantage of them. Not only can you get books, but many libraries have huge collections of movies or other entertainment. Some have art collections you can check out, others have tools and household items you can borrow. There are also free book clubs, lectures, classes and other activities that can add to your social calendar without spending anything.
This might sound like a no-brainer, but many of us have gotten into the habit of buying whatever we think we need simply because it's convenient. Amazon has created some habitual buying habits that we might want to rethink if we're trying to save money. Do you really need a new jacket or is the one you have still perfectly usable? Is there still some life left in that pair of shoes? Even holding off on buying things for a month or two and making do with what you have can help you save money and see that you don't need as much as you might think.
Lots of small savings can add up, so don't assume that a few cents or a dollar here and there don't matter. Once you get into these habits, you may even find that frugal living to be a preferred way of life, regardless of your financial situation. It certainly can't hurt to try it.
A woman gets the keys to her new car.
There are many reasons to be squeamish about spending money in today’s economy. Interest rates are high, trade wars may drive inflation, and financial experts say we may be headed for a recession. That comes after the post-COVID period, when the process of everyday necessities, such as rent and groceries, went sky-high.
There’s a lot of economic uncertainty out there, but that won’t stop some of us from needing a car. And, of course, those are getting more expensive, too. The average car cost $49,740 in January, nearly an all-time high. Part of that is inflation, but it’s also because Americans love buying nice cars, and more are choosing luxury models. So now, to purchase a new car at $49,740, with zero dollars down and a 5-year loan, would cost over $950 a month. That’s a lot of money for something that will only decrease in value.
Real estate expert and author of “Retire FIlthy Rich,“ Ravi Sharma, wasn’t shy about sharing his thoughts about buying a new car on TikTok. The post received over 1.2 million views.
"Controversial topic: That $50,000 car loan that you finally paid off after 5 years cost you $62,000 (due to interest). That car is now worth $20,000 due to depreciation. Losing $42,000 in 5 years would be seen as a bad investment, yet people are still buying new cars. Thoughts?"
@personalfinancewithravi Controversial Topic - What’s your thoughts about this? 🤔 #personalfinancewithravi
Sharma’s logic is hard to argue with. A car is a depreciating asset that will lose its value over time. In fact, according to Kelly Blue Book, the average new car loses 20% of its value after the first year. That number grows to over 60% after five years. So, why not buy a car that’s five years old, costs less money, and is significantly cheaper to insure?
Strangely, most people in the comments pushed back against Sharma’s logic. "You forgot to factor in the benefit of owning that vehicle and the pleasure of driving it. For most, it's priceless. Not everything in life is about making money," Patty wrote. "I have 3 bad investments and loving them. We only live once. Enjoy,” Rich added. Others noted that even though the car's value goes down, you got use out of the vehicle so it's not a total loss.
A woman inspects her new car. via Canva/Photos
There were a few people who agreed with Sharma. "Yes! Car payments are one of the top wealth killers. I have always bought used and paid cash,” a commenter wrote. "Amen. I’ve never purchased a brand-new vehicle. If you want to be a millionaire, don’t live like one,” another added. "Just driving the new car off the lot depreciates it by 20-25%. Buying pre-owned, someone else took that depreciation. Don't believe me? Buy a $50k new car then try to sell it tomorrow,” a commenter wrote.
Many people pushed back against Sharma because buying a new vehicle gives them joy. But the real question is, how long does that last before it just becomes your everyday car and no longer has the wow factor it had when you drove it off the lot? Further, going back to our car that cost $49,740 and about $950 a month, what if you bought a car for half the price and invested the $475 a month of the payment in a sensible mutual fund? After 5 years at 6% of growth, that would amount to over $32,000.
A woman gets the keys to her new car.via Canva/Photos
With the constantly rising cost of living, it’s good to consider what it really means to make a big purchase and whether the joy of something new is worth the loss that comes with spending versus investing. Ultimately, the decision comes down to one’s values and financial priorities. Is short-term satisfaction worth the long-term cost when opting for a used car means more financial freedom tomorrow?
