Many things have changed since your grandparents were young, but some things never go out of style – like solid financial tips.

By implementing some of their best money tips, you’ll find yourself in a much better financial position than by following what your peers are.

Pay Cash

Cash in hand is always the best policy when buying something. Back in the day, people saved up for things until they had the money to buy them. That kept them from overspending or getting in over their heads financially.

With today’s credit cards, it’s too easy to let things get out of control.

Don’t Treat Your Stuff Carelessly

We’re all guilty of this. We don’t take care of our stuff like we should, which leads to us having to replace it before we should have to. It happens all the time, we’re careless and do things like leaving our grill out uncovered in the elements without a cover to protect it. Doing basic maintenance on your stuff will extend its life and will keep money in your pocket.

Learning Skills

In order to save money, people back in the day were Jacks of all trades. They knew how to do a little of everything to help keep their costs lower. Whether it was doing their own car repairs, carpentry, or sewing, they knew they had to get by on their own accord.

Hiring an expert wasn’t always an option so they did what they could to solve their own problems.

Owning Instead of Renting

If you’re going to be paying for something anyway, you might as well own it instead of renting it. That gives you equity and builds your net worth.

Whether it’s a vehicle, land, or a house, renting doesn’t make as much sense as owning does. At the end of 30 years, if you rent an apartment, you’ll have to keep renting. You’ll be paying that same amount of money every month to your landlord. If you own a home, you’ll just have to pay the property taxes, insurance, and any repairs. By renting, you’re making your landlord rich. By buying, you’re making yourself rich.

Being Prepared for Hard Times

Having money set back for emergencies was a way of life for your grandparents. They didn’t expect their world would be all rosy. They knew they weren’t exempt from the hardships of life. While you’ll always have bad things happen, they won’t seem quite as insurmountable if you have a way to pay for them.

If you establish a savings account like your grandparents had, you’ll have more security and you’ll sleep better at night.

Grow Your Own Food

In recent years, there has been a return to growing crops in your own backyard gardens. Not only is this a tastier and more convenient way to get fresh produce, but it is also more cost efficient too. Your grandparents knew this and many people from this generation toiled in their own backyards for the betterment of their families and their bottom lines.