Old Style Money Saving: Wisdom from Nan
In the age of technology, it can be easy to overlook the tried and tested methods of old style money saving. However, these timeless tips can be just as effective in today's world, helping you to budget better, reduce expenses, and ultimately save more money.
Now you're right to think I don't look that old to be talking Old Style! And you're right…So, I've scoured the internet, spoken to Nan, and put this insight together for the old style money savers out there.
In this insight, we will explore the key areas of old-fashioned money-saving wisdom, accompanied by sub-sections filled with invaluable advice. If you'd like a more modern companion to these tips, our 7 smart tips for budgeting your money and 9 ways to penny-pinch at Christmas are worth a read too.
Key Takeaways
- Energy-saving practices: Wear warm clothes, use lids on saucepans, line dry laundry, and spot-clean clothes to reduce energy consumption and save money
- Borrow instead of buying, repair rather than replace, repurpose old clothes, and fix and restore furniture to save money and reduce waste.
- Mindful food and grocery expenses: Stock up on essentials, cut out unnecessary drinks, reduce snacking, and avoid food waste to save on grocery bills.
- Sell or donate unused clothes, shop at charity shops or second-hand sources, borrow clothes for occasions, and challenge yourself to avoid buying new clothes. Also, walk or cycle instead of driving, enjoy local attractions, save on dining out, and pack your own lunch to save money on entertainment and meals.
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Old Style Money Saving: Waste Not, Want Not
Wear Warm Clothes
One of the simplest old style money saving tips is to wear warm clothes in the house rather than relying on central heating. This can save a significant amount on energy bills. Opt for a jumper or a blanket to add extra layers of warmth instead of turning up the thermostat.
Use Lids on Sauce Pans
Using lids on saucepans not only speeds up cooking time but also reduces energy consumption. Less steam in the kitchen also helps prevent condensation and mould. With household bills still stretched, small habits like this add up — see our thoughts on whether energy prices will come down.
Line Drying Laundry
Tumble dryers are hungry energy guzzlers. Even though most people I know live in flats, I'm told hanging your laundry on a washing line or clothes rack can cut down on electricity usage and save money on your energy bills.
Spot-Clean Clothes
If clothes have just a few marks, try spot-cleaning them with a damp cloth rather than throwing them in the washing machine. This can save water, energy, and detergent.
Make Do and Mend
Borrow Instead of Buying
Before purchasing an item you only need for a short time or for a specific purpose, consider borrowing it from friends, family, or neighbours. This old style money saving tip can help you avoid unnecessary expenses.
Repair Rather Than Replace
If an appliance breaks down, explore repair options before buying a new one. Repairs are often much cheaper than purchasing a new item, and the appliance may continue to function well for years to come.
Repurpose Old Clothes
Instead of buying paper towels, use old clothes or towels as cleaning rags. This not only saves you money but also reduces waste.
Fix and Restore Furniture
Old furniture can often be repainted, reupholstered, or otherwise restored rather than replaced. (I believe the millennials coined the term "up-cycling".) Either way, doing so can save money and give new life to items that would otherwise be binned.
The Kitchen Front
Stock Up on Essentials
Always keep a supply of staple foods in your cupboards and freezer. This can help you avoid expensive last-minute trips to the store or the temptation of ordering Ubereats/JustEat/Deliveroo - cor this is making me hungry.
Cut Out Unnecessary Drinks
Fizzy drinks and fruit juices can be both expensive and unhealthy. Opt for tap water or squash as a cheaper and more nutritious alternative. How about a SodaStream?
Reduce Snacking
Cutting back on snacks like crisps and biscuits can save you money and contribute to a healthier diet. The idea of constant snacking is a modern one, and cutting back on these items can make a significant difference in your grocery budget.
Don't Waste Food
Throwing away food is the same as throwing away money. Be mindful of portion sizes, and try to use leftovers in creative ways to prevent waste.
A Stitch in Time Saves Nine
Be Thrifty with Clothing
If you haven't worn an item in the past year, consider selling, recycling, or donating it. This can help you de-clutter your wardrobe and potentially make some extra cash. If you're wondering how, facebook marketplace/Vinted are great modern-day ways to make selling your old clothes practical.
Hunt for Bargains
Charity shops can be a treasure trove of affordable clothing and accessories. Embracing second-hand items can save you money and contribute to a more sustainable lifestyle.
Learn to Share and Borrow
When you only need a clothing item for one occasion, consider borrowing it from a friend or family member. This can be especially useful for formal events or weddings.
Clothing Challenges
Challenge yourself to avoid buying new clothes for a set period of time. This can help you realise how much you can save by simply wearing the items you already own.
Fun and Games
Walk or Cycle When Possible
Choosing to walk or cycle instead of driving can save money on fuel and parking fees while also providing health benefits.
Enjoy Local Attractions
Visit local parks and attractions instead of travelling far and wide. This can save you money on transportation and admission fees while still providing enjoyable experiences.
Save on Dining Out
When eating at a restaurant, request tap water instead of bottled water or other drinks. This can save you a significant amount on your bill.
Bring Your Own Lunch
Packing your lunch for work can save you a considerable amount each week compared to buying food from a café or app.
Just for Kids
Buy Used Items
Save money on children's clothes and toys by purchasing second-hand items through local sales or swap sites.
Encourage Creativity
Encourage your children to make their own cards or gifts for special occasions. This can save money and provide a more personal touch.
Use Cloth Nappies
Investing in reusable cloth nappies can save you a significant amount of money compared to disposable options. Although there is an initial investment, the long-term savings can be substantial.
Make and Freeze Baby Food
Avoid expensive pre-made baby food by making and freezing your own. This not only saves money but also ensures that you know exactly what ingredients are in your baby's food.
Keep on Saving
Learn to Barter
If you have a skill or service to offer, consider bartering with others to save on expenses. For example, you might offer to mow someone's lawn in exchange for them fixing your leaky tap.
Use Cash Only
Using cash for everyday expenses can help you keep better track of your spending and make it easier to stick to a budget.
Save for a Rainy Day
Set aside a small amount of money each week for an emergency fund. This can help you cover unexpected expenses without resorting to debt.
Balance Your Chequebook
Although it may seem outdated in the age of online banking, balancing your chequebook can help you identify errors, fraud, and areas where you may be overspending.
Separate Bank Accounts
Consider having separate bank accounts for fixed expenses, annual expenses, and emergencies. This can help you budget more effectively and ensure that you have funds available when needed.
DIY and Homemade Solutions
Learning to make or repair items yourself can save you money and provide a sense of accomplishment. Examples include DIY cleaning supplies, homegrown vegetables, and the recent TikTok pandemic trend of making homemade bread.
