8 Depression Era Money Saving Tips (2024)

You can start using these Great Depression Era money-saving tips today!

8 Depression Era Money Saving Tips (1)

When most people think of the height of frugal living, the depression era is often the #1 time they think about. It was a time when most people didn’t waste anything, used their creativity and ingenuity to solve problems and managed to make it through, even when times were extremely tough and budgets simply did not exist because there was nothing to spend.

When I think of the depression era, I am reminded of how much we waste now and how they managed to use everything without even a complaint. It just was the way things were and everyone contributed to the household. If you would like to employ some good, old-fashioned money-saving tips that they used in the depression era to save your household some money, here are 10 forgotten Depression Era money-saving tips to start using now.

8 Depression Era Money Saving Tips

Learn the art of haggling.

People in the depression era didn’t just take the first quoted price for something. They knew how to trade, haggle, and make deals. We may not haggle these days outside of the car lot, but that doesn’t mean we can’t save money on the things we want. I keep notes of the items I need and then watch for sales on them. But it never hurts to ask when a store’s next sale will be.

Trading is starting to come back. More stores are offering to give you credit on used electronics when you are upgrading. Some stores buy back CDs, Vinyl Records, Books, or DVDs. Others buy back gaming equipment or phones. When you need a new item, see if you can, at least partially, fund it with something you no longer use.

While most of us are not comfortable haggling, you can use the internet to find the best price on an item. If you can offer proof of that price, some stores have a price matching guarantee.

Don’t shop for fun.

Recreational shopping wasn’t really an option for most people during the Great Depression. It is amazing how much money we waste when we shop because we are bored. Make it a habit to not do so. Bored? Pick up a deck of cards, work on a puzzle, call a friend, read a book, work in the garden, or choose another no-cost hobby to entertain yourself.

8 Depression Era Money Saving Tips (2)

Buy used.

Many families bought things that their neighbors no longer needed in order to save money. This should be a priority for you if you are looking to save money especially when it comes to things like kids’ clothing, seasonal items, and even household basics. Check out your local thrift stores, Craigslist, eBay, or even Facebook Marketplace.

Shop locally.

You may be surprised by how cheap things are when you buy from local stores. Many people shop at big box stores because we have been trained as consumers to think they are cheaper. The truth is, they are often not cheaper and you can get great deals from local markets. This is usually true of farmers’ markets because you are shopping in-season as well.

Even if the price is higher, you may save money because you do not have to pay shipping costs. Have you ever had your online cart at $23 when the business reminds you that if you spend $35, you will get free shipping, so you buy a $13 item that you don’t really need to save $4.99 on shipping? Yeah, they trick you into spending more because you hate paying shipping costs.

Reduce the use of household products.

Most of us use too much dish soap, shampoo, and lotion as well as many other products. Reduce the amount you use and you may be surprised that it’s enough. This will save you from having to replenish personal care products, beauty products, and cleaning supplies as often.
If you read the back of the bottles, they will often say, “Use a pea-size amount”. Try just following the guidelines on the back of the bottle. Carefully look at the lines on the laundry soap measuring cup. Most of the time, you only need the amount at the lowest line, but we are in the habit of filling the whole cup using 3 – 4 times as much as we need.

My kids always use too much soap when watching their hands, so I fill the soap dispenser halfway with soap, then fill it the rest of the way with water. I put the lid on and then shake to mix the water into the soap.

Stretch your meat or skip it in meals.

Often, families did not have the money to have meat with most meals during the great depression. They stretched what meat they did have with beans and lentils. If you don’t feel you can go meat-free, try ubstituting beans or lentils for half the ground meat in your recipes. You will save money and consume much-needed fiber.

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Don’t buy disposable things.

Disposable products simply didn’t exist during the Great Depression. Now, we live in a disposable era. But it is easy and much more frugal to trade paper towels for rags and sandwich baggies for reusable containers. Look at the disposable products you are buying and find a reusable resource in your home.

Try some holistic health.

In our grandparent’s time, it was expensive to see a doctor just like it is now, and it wasn’t unheard of to try weird concoctions for healing various ailments. Don’t use any of the disproved methods of former days! However, it may be smart to try things like essential oils for minor ailments before reaching for that medication or going to your doctor’s office for minor things like congestion from a cold.

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8 Depression Era Money Saving Tips (2024)

FAQs

How did people save money during the depression? ›

To save money, families neglected medical and dental care. Many families sought to cope by planting gardens, canning food, buying used bread, and using cardboard and cotton for shoe soles.

What thrived during the Great Depression? ›

Communications. Print and radio boomed during the depression. Nowadays, streaming and teleconferencing.

How did people survive the 1930s depression? ›

Farm Families and the Great Depression

Farmers could grow their own food in large gardens and raise livestock to provide meat. Chickens supplied both meat and eggs, while dairy cows produced milk and cream. Many women had sewing skills and began producing much of their family's clothing.

How to prepare for a depression era? ›

How to prepare yourself for a recession
  1. Reassess your budget every month. ...
  2. Contribute more toward your emergency fund. ...
  3. Focus on paying off high-interest debt accounts. ...
  4. Keep up with your usual contributions. ...
  5. Evaluate your investment choices. ...
  6. Build up skills on your resume. ...
  7. Brainstorm innovative ways to make extra cash.
Feb 22, 2024

What to buy before a depression? ›

To avoid that, we will offer just ten more important pieces of survival gear that may become handy during an economic depression:
  • Hunting and fishing supplies.
  • Seeds for fruits, vegetables, and herbs.
  • Water filters.
  • Multi-tools.
  • Sewing kit.
  • Personal defense items.
  • Flashlights, headlamps, and candles.
Jul 26, 2023

What assets did well in the Great Depression? ›

The best performing investments during the Depression were government bonds (many corporations stopped paying interest on their bonds) and annuities.

What sells during depression? ›

Toothpaste, deodorant, shampoo, toilet paper, and other grooming and personal care items are always in demand. Offering these types of items can position your business as a vital resource for consumers during tough times. People want to look good, even when times are tough.

Did anyone get rich during the Great Depression? ›

Not everyone, however, lost money during the worst economic downturn in American history. Business titans such as William Boeing and Walter Chrysler actually grew their fortunes during the Great Depression.

Who fared best during the Great Depression? ›

White collar jobs fared better than blue collar jobs and those lucky enough to work for a city, county, state, or at one of the military facilities generally held on to jobs. Farm families were mostly well positioned (see "Kitsap County").

What will eventually pull America out of the Great Depression? ›

Ironically, it was World War II, which had arisen in part out of the Great Depression, that finally pulled the United States out of its decade-long economic crisis.

What was eaten during the Great Depression? ›

Celery soup mixed with tuna fish and mashed potatoes. A salad of corned beef, gelatin and canned peas. Baked onion stuffed with peanut butter. Those are just some of the recipes Americans turned to during the Great Depression, when many families struggled to eat enough nutritious food.

Who suffered the most during the Great Depression? ›

The problems of the Great Depression affected virtually every group of Americans. No group was harder hit than African Americans, however. By 1932, approximately half of African Americans were out of work.

What to stockpile for economic collapse? ›

If you have the space, experts recommend a week's supply of food and water. Choose foods that don't require refrigeration and are not high in salt. Your stockpile should also contain flashlights, a radio, manual can opener, batteries and copies of important documents.

How to financially survive a depression? ›

The Bottom Line

Build up your emergency fund, pay off your high-interest debt, do what you can to live within your means, diversify your investments, invest for the long term, be honest with yourself about your risk tolerance, and keep an eye on your credit score.

What to do in a recession to make money? ›

Recessions can also push you to reexamine your finances, develop passive income streams, and consult financial advisers to make sure your assets are safe.
  1. Cut living expenses. ...
  2. Build an emergency fund. ...
  3. Develop new skills. ...
  4. Speak with a financial adviser. ...
  5. Create passive income sources. ...
  6. Start a business. ...
  7. Consumer staples. ...
  8. Bonds.
Jan 5, 2024

How did the rich survive the Great Depression? ›

Those wealthy whose wealth was all in the stock market or was highly leveraged, lost everything. However, not every wealthy person had all their assets in the stock market or leveraged with debt. Many wealthy people owned land and buildings, all debt free. Many had lots of cash.

How did people lose all their money in the Great Depression? ›

As stocks continued to fall during the early 1930s, businesses failed, and unemployment rose dramatically. By 1932, one of every four workers was unemployed. Banks failed and life savings were lost, leaving many Americans destitute. With no job and no savings, thousands of Americans lost their homes.

What saved the economy during the Great Depression? ›

Through employment and price stabilization and by making the government an active partner with the American people, the New Deal jump-started the economy towards recovery.

What was emergency money during the Great Depression? ›

In March 1933, President Roosevelt ordered a four-day bank holiday to prevent further withdrawals. To compensate for the currency shortage, communities created emergency money, or scrip. This clamshell was signed as it changed hands and redeemed when cash became available again.

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