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 in 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 frugal were people during the Great Depression? ›

During the Depression, men passed the time in Sophie's Alley in the 2200 block of East Main Street. Theirs is a generation marked by frugality. It was a time when a single man could live on $40 a month -- bread cost a nickel, a suit could be had for about $25 and a streetcar ride cost 7 cents.

How did people survive during the Great Depression? ›

Growing their own food

In 1930, a much larger percentage of Americans lived on farms and in rural areas. Many of these farmers still followed subsistence lifestyles, growing only enough food to feed themselves and supplementing the rest through hunting and gathering of wild fruits and vegetables.

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.

How did some people stay rich during the Great Depression? ›

But some investors built their wealth during this era. Jesse Lauriston Livermore was one of those people. He wasn't afraid to short stocks and leaned on technical analysis for his investing decisions. Jesse's returns from the Great Depression earned him the nickname The Great Bear Of Wall Street.

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.

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.

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").

Who became a millionaire during the Great Depression? ›

There are MANY more stories of people (e.g., Charles Darrow, Glenn Miller, J. Paul Getty, John Templeton) who literally struck business gold during the worse economic time in American History.

How did people afford food during the Great Depression? ›

Not only was access to food limited by rationing, many people had to turn to soup kitchens, which are places where people can go and get a free meal, or food stamps, which are booklets of stamps that could be used to buy food, cleaning supplies, and other necessities, to get enough food to feed their families.

What was cheap during the Great Depression? ›

On the other hand, quite a few items, such as rents, haircuts and cars, were tantalizingly affordable in the Great Depression. The 1930s were a time of struggle and heartache for millions. But for those who maintained solid employment, there were silver linings.

IS CASH good in a depression? ›

Cash is an important asset when it comes to a recession. After all, if you do end up in a situation where you need to pull from your assets, it helps to have a dedicated emergency fund to fall back on, especially if you experience a layoff.

What did people do for fun during the Great Depression? ›

Radio programs, music, dancing and dance marathons, and cinema were popular forms of entertainment during the Great Depression. Many people suffering from the effects of the economic downturn looked for inexpensive ways to pass the time and distract themselves from the challenging circ*mstances.

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.

How did people earn money in the Great 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.

What saved the economy during the Great Depression? ›

It was war-related export demands and expanded government spending that led the economy back to full employment capacity production by 1941.

How did money disappear during the Great Depression? ›

In all, 9,000 banks failed--taking with them $7 billion in depositors' assets. And in the 1930s there was no such thing as deposit insurance--this was a New Deal reform. When a bank failed the depositors were simply left without a penny. The life savings of millions of Americans were wiped out by the bank failures.

What saved people during the Great Depression? ›

When the Great Depression hit, pension systems and unemployment insurance were almost non-existent. Stimulus programs in the 1930s helped to restore confidence by introducing such insurance schemes, particularly on unemployment or bank deposits (Eggertsson 2008).

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