10 Money Lessons from the Great Depression that STILL APPLY TODAY! - GoFuckYourself.com

OMG Jim · 11-21-2008, 12:29 PM

After reading this I started thinking about all the things that my parents and grandparents did to "Make ends meet" or to "Stretch the dollar". Then I thought about how many of these things I actually do.... which is quite a few.

If you have any other ideas that could help during these trying time please add to the list.

1. Frugality Is Not a Bad Word
There was a time when a person who was frugal was looked upon with esteem rather than someone without the means to buy more. Many people seem to equate frugality with "cheapness," but that couldn't be further from the truth. Being frugal is simply getting the most out of what you have and purchase, and not purchasing things that you really don't need.
While your grandparents learned frugality during the hard times, many of them continued to practice it even when times got better, which helped them build wealth. Learning to be frugal could help a lot of people who haven't learned to live within their means.
2. Use What You Have
In a consumer society, whatever problem you may have can always be solved by buying something else. If something breaks, go out and buy a new one. If something isn't exactly right, go buy something that is. In your grandparents' time, when something broke, they first took a look to see if it could be fixed.
If it couldn't be fixed, before it ended up in the trash can, they would consider whether it could still be useful for something else. There is no reason to go out and spend money on something new if you can get the same thing accomplished with the things that you already have.
3. Doing It Yourself Is the Way to Go
When it comes to fixing things, the first people that your grandparents looked at were themselves. Instead of calling someone to fix something that broke, they fixed it on their own most of the time.
In a society where we now hire people to do most basic repair and maintenance, it's important to remember that most repairs aren't nearly as difficult as they may appear and that you can do much of it on your own with a how-to book and patience.
4. Things Have More Than One Use
People tend to buy stuff with a specific purpose in mind and use it exclusively for that intended purpose. What your grandparents knew is that most things can have multiple uses throughout their useful life. That T-shirt can become a night shirt when the collar gets worn and can't be worn outside, and then a painting shirt when it starts to get holes and eventually rags when the holes get too big.
5. Debt Is to Be Avoided
In the age of credit cards, where spending what you don't have now is encouraged left and right, it's hard to believe there was a time when people actually believed that debt was to be avoided, but those are the words that your grandparents lived by. If they didn't have the money, then they would simply need to figure out a different plan on how to get what they needed. It might be borrowing it from a friend, saving up money or finding something that could be used instead. Going into debt to get it accomplished was not an option.
6. Save for Rainy Days
As many people are finding out, rainy days eventually come. Your grandparents were well aware of this and specifically put aside money for these rainy days. It's now what is commonly referred to as an emergency fund and something that comes in quite handy when your financial plans don't go exactly as you imagined they would.
7. Used Can Be Just as Good as New
This concept isn't completely foreign even to today's generation. The notion that buying a quality two- to three-year-old car has become basic mainstream financial advice when it comes to car ownership. Your grandparents knew that just because something happened to be pre-owned doesn't make it something to be dismissed as unworthy. They also know that this concept doesn't stop with cars and can be expanded to almost any other area where a second-hand market is available.
8. Functional Trumps Fashion:
When it comes to making purchases, your grandparents knew that it wasn't what the device looked like, but what it could do that mattered. It was much more important to buy something that did what needed to be done regardless of what it actually looked like. That Rolex may look great, but it doesn't tell time any better than a standard watch bought at the local discount store. Learning to buy for function rather than looks is a great way to save money. ]
9. Bargains Are to Be Sought-After
When it was time to purchase something, your grandparents didn't just go out an get it that day. They took the time to look for a bargain. That meant doing research and waiting until the price was right rather than pulling out a credit card and buying it even when they didn't have the money. Bargains take planning and time to find, but when they are found, you know you have gotten a great deal.
10. Homemade Cookies Are Delicious
In a society where everything is pre-made and sold for convenience, it may be hard to remember the last time you had a meal made from scratch. What your grandparents knew was that not only is it less expensive to cook this way, the resulting meal is also a lot more delicious. Think of it this way; would you ever consider trading in a plate of your grandmother's homemade cookies for any store bought brand?
While the way that your grandparents handled money may seem unsophisticated with all the financial tools that are available today, the basics of living below their means, saving for a rainy day, getting an education and investing in their future are values that a lot of people could financially benefit from today.

MOxxx · 11-21-2008, 12:51 PM

I didn't read it yet but everything that Jim says makes sense, so i will print it.

mona · 11-21-2008, 01:07 PM

I'm all about #5...If you can't afford it, maybe it's best not to buy it!

MOxxx · 11-21-2008, 01:26 PM

Quote:

Originally Posted by mona_klixxx

I'm all about #5...If you can't afford it, maybe it's best not to buy it!

This is like most the Americans think.....................or not.

ultimatebbwdotcom · 11-21-2008, 01:37 PM

Been doing these for years - all good ways to keep your hard earned money rather than giving it to someone else.

Peter Romero · 11-21-2008, 01:48 PM

Great thread. Good writing.

Through generations my family has lived this way. We never went hungry, always had money, and waste was not to be tolerated. Fixing things yourself and giving something 2,4, 100 or more uses has always been comonplace throughout our lives. Funny, 2 of the most sucessful people I know in this biz don't waste ANYTHING - and everything either serves many purposes or is considered a waste in the first place. If you are smart - you can relate these things to every aspect of your life figuratively and financially to see how these great practices apply to you.

Now excuse me as I go plant something that grows and ripens in the winter.

pornguy · 11-21-2008, 02:41 PM

If you can not pay for it on a McDonalds Salary, then you dont need it.

pr0 · 03-03-2009, 01:12 PM

bump for some old/but good information.....that i am trying to follow today

$5 submissions · 03-03-2009, 01:20 PM

Great post, Jim. So true!

Magnus · 03-03-2009, 01:25 PM

The markets will rebound.. investors will get wealthy, banks will see record profits, greed will come back stronger than ever and when I'm old and grey in a walker my daughter will be telling me how the markets and banks crashed just like in 2009.

The masses will never learn from past mistakes.

Vicious_B · 03-03-2009, 01:29 PM

Excellent list.

notime · 03-03-2009, 02:39 PM

good post

NextBigTube · 03-03-2009, 02:49 PM

Quote:

Originally Posted by mona_klixxx

I'm all about #5...If you can't afford it, maybe it's best not to buy it!

Right on. That's also the one and #10 I agree with most.

ultimatebbwdotcom · 03-05-2009, 12:39 PM

Quote:

Originally Posted by NextBigTube

Right on. That's also the one and #10 I agree with most.

Add #6 to that too (probably goes hand in hand).

Saving for many potential rainy days is always wise.

WebairGerard · 03-05-2009, 12:45 PM

good post. good, solid financial info that never gets old.

11-21-2008, 12:51 PM	#2
MOxxx Confirmed User Join Date: Nov 2005 Location: Atlanta,GA Posts: 3,022	I didn't read it yet but everything that Jim says makes sense, so i will print it. __________________ Increase revenue and maximize your business potential by translating your website with a partner who truly understands your industry! For more information about X-Rated Translations visit https://www.xratedtranslations.com

11-21-2008, 02:41 PM	#7
pornguy Too lazy to set a custom title Industry Role: Join Date: Mar 2003 Location: Homeless Posts: 62,911	If you can not pay for it on a McDonalds Salary, then you dont need it. __________________ PornGuy skype me pornguy_epic AmateurDough The Hottes Shemales online! TChicks.com \| Angeles Cid \| Mariana Cordoba \| MAILERS WELCOME!

03-03-2009, 01:12 PM	#8
pr0 rockin tha trailerpark Industry Role: Join Date: May 2001 Location: ~Coastal~ Posts: 23,088	bump for some old/but good information.....that i am trying to follow today __________________ __________ Loadedca$h - get sum! - Revengebucks - mmm rebills! - webair (gotz sErVrz)

03-03-2009, 01:20 PM	#9
$5 submissions I help you SUCCEED Industry Role: Join Date: Nov 2003 Location: The Pearl of the Orient Seas Posts: 32,195	Great post, Jim. So true! __________________ Need a NON-ADULT income stream? We build your YOUTUBE CHANNEL for only $20 per video! For Hire: $3/hour or $400 per month Marketing Specialist Virtual Assistants

03-03-2009, 01:29 PM	#11
Vicious_B Confirmed User Join Date: May 2008 Posts: 2,564	Excellent list. __________________ ICQ# 419 775 271

11-21-2008, 12:29 PM	#1
OMG Jim Confirmed User Industry Role: Join Date: Oct 2005 Location: Atlanta Posts: 3,153	10 Money Lessons from the Great Depression that STILL APPLY TODAY! After reading this I started thinking about all the things that my parents and grandparents did to "Make ends meet" or to "Stretch the dollar". Then I thought about how many of these things I actually do.... which is quite a few. If you have any other ideas that could help during these trying time please add to the list. 1. Frugality Is Not a Bad Word There was a time when a person who was frugal was looked upon with esteem rather than someone without the means to buy more. Many people seem to equate frugality with "cheapness," but that couldn't be further from the truth. Being frugal is simply getting the most out of what you have and purchase, and not purchasing things that you really don't need. While your grandparents learned frugality during the hard times, many of them continued to practice it even when times got better, which helped them build wealth. Learning to be frugal could help a lot of people who haven't learned to live within their means. 2. Use What You Have In a consumer society, whatever problem you may have can always be solved by buying something else. If something breaks, go out and buy a new one. If something isn't exactly right, go buy something that is. In your grandparents' time, when something broke, they first took a look to see if it could be fixed. If it couldn't be fixed, before it ended up in the trash can, they would consider whether it could still be useful for something else. There is no reason to go out and spend money on something new if you can get the same thing accomplished with the things that you already have. 3. Doing It Yourself Is the Way to Go When it comes to fixing things, the first people that your grandparents looked at were themselves. Instead of calling someone to fix something that broke, they fixed it on their own most of the time. In a society where we now hire people to do most basic repair and maintenance, it's important to remember that most repairs aren't nearly as difficult as they may appear and that you can do much of it on your own with a how-to book and patience. 4. Things Have More Than One Use People tend to buy stuff with a specific purpose in mind and use it exclusively for that intended purpose. What your grandparents knew is that most things can have multiple uses throughout their useful life. That T-shirt can become a night shirt when the collar gets worn and can't be worn outside, and then a painting shirt when it starts to get holes and eventually rags when the holes get too big. 5. Debt Is to Be Avoided In the age of credit cards, where spending what you don't have now is encouraged left and right, it's hard to believe there was a time when people actually believed that debt was to be avoided, but those are the words that your grandparents lived by. If they didn't have the money, then they would simply need to figure out a different plan on how to get what they needed. It might be borrowing it from a friend, saving up money or finding something that could be used instead. Going into debt to get it accomplished was not an option. 6. Save for Rainy Days As many people are finding out, rainy days eventually come. Your grandparents were well aware of this and specifically put aside money for these rainy days. It's now what is commonly referred to as an emergency fund and something that comes in quite handy when your financial plans don't go exactly as you imagined they would. 7. Used Can Be Just as Good as New This concept isn't completely foreign even to today's generation. The notion that buying a quality two- to three-year-old car has become basic mainstream financial advice when it comes to car ownership. Your grandparents knew that just because something happened to be pre-owned doesn't make it something to be dismissed as unworthy. They also know that this concept doesn't stop with cars and can be expanded to almost any other area where a second-hand market is available. 8. Functional Trumps Fashion: When it comes to making purchases, your grandparents knew that it wasn't what the device looked like, but what it could do that mattered. It was much more important to buy something that did what needed to be done regardless of what it actually looked like. That Rolex may look great, but it doesn't tell time any better than a standard watch bought at the local discount store. Learning to buy for function rather than looks is a great way to save money. ] 9. Bargains Are to Be Sought-After When it was time to purchase something, your grandparents didn't just go out an get it that day. They took the time to look for a bargain. That meant doing research and waiting until the price was right rather than pulling out a credit card and buying it even when they didn't have the money. Bargains take planning and time to find, but when they are found, you know you have gotten a great deal. 10. Homemade Cookies Are Delicious In a society where everything is pre-made and sold for convenience, it may be hard to remember the last time you had a meal made from scratch. What your grandparents knew was that not only is it less expensive to cook this way, the resulting meal is also a lot more delicious. Think of it this way; would you ever consider trading in a plate of your grandmother's homemade cookies for any store bought brand? While the way that your grandparents handled money may seem unsophisticated with all the financial tools that are available today, the basics of living below their means, saving for a rainy day, getting an education and investing in their future are values that a lot of people could financially benefit from today. __________________ ICQ: 254 914 537 - Skype: AlmightyJim

11-21-2008, 01:07 PM	#3
mona Registered User Join Date: Feb 2008 Location: Mona = "female monkey" in Spanish Posts: 1,940	I'm all about #5...If you can't afford it, maybe it's best not to buy it!

11-21-2008, 01:37 PM	#5
ultimatebbwdotcom Confirmed User Join Date: Mar 2006 Posts: 591	Been doing these for years - all good ways to keep your hard earned money rather than giving it to someone else. __________________ Ultimatebbw.com Dangerouscurvesdesign.com

11-21-2008, 01:48 PM	#6
Peter Romero Long time no happy ending Industry Role: Join Date: Feb 2003 Location: San Diego CA Posts: 10,578	Great thread. Good writing. Through generations my family has lived this way. We never went hungry, always had money, and waste was not to be tolerated. Fixing things yourself and giving something 2,4, 100 or more uses has always been comonplace throughout our lives. Funny, 2 of the most sucessful people I know in this biz don't waste ANYTHING - and everything either serves many purposes or is considered a waste in the first place. If you are smart - you can relate these things to every aspect of your life figuratively and financially to see how these great practices apply to you. Now excuse me as I go plant something that grows and ripens in the winter. __________________ POVCash [email protected] See them all here: http://www.Petergirls.com

03-03-2009, 01:25 PM	#10
Magnus Confirmed User Industry Role: Join Date: Dec 2002 Location: Ontariariooooo Posts: 1,211	The markets will rebound.. investors will get wealthy, banks will see record profits, greed will come back stronger than ever and when I'm old and grey in a walker my daughter will be telling me how the markets and banks crashed just like in 2009. The masses will never learn from past mistakes. __________________ Magnus

03-03-2009, 02:39 PM	#12
notime Confirmed User Industry Role: Join Date: Jun 2003 Location: cyberspace Posts: 8,021	good post

03-05-2009, 12:45 PM	#15
WebairGerard Confirmed User Industry Role: Join Date: Sep 2005 Posts: 8,113	good post. good, solid financial info that never gets old. __________________