Modern times have come with so many new blessings into our lives. We have seen the rise of the cashless society and there are countless apps to choose from to help with any area you need. I’m not complaining about these things because we all need them. However, we tend to forget about the foundations of financial wisdom or old school money tips, in simple words.
Now, when you suggest some of these classic money tips you can end up being judged for it. People might think that you don’t know how to keep up with the times or that you’re simply not savvy enough.
There is still a lot of value in the tips that existed before all these modern things came about. Get back to basics with this list of old school money tips and you will be impressed at the outcome.
1. Read books: The culture of reading has faded a lot over time. We have the YouTube videos to summarize the basics but the problem is that you usually don’t get the whole picture.
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Reading books give you the freedom to create your own perspective and see details you wouldn’t have had a chance to know. You see, when you’re watching a video or reading a short article, you’re already looking at things from someone else’s lenses.
Head down to your local library or purchase eBooks, if you like.
2. Get a piggy bank: Growing up, I had a tiny piggy bank which actually taught me a lot about saving. I was so proud to collect the few coins I was given and I can never forget the excitement of finally earning my key to see all I had toiled for.
It can seem a little odd for an adult to have a piggy bank but they actually come in handy. You could use a jar or get an actual bank to keep track of loose change, which we often disregard.
The only thing you need to have is enough discipline so that you’re not tempted to keep opening the jar when it’s not necessary. That means you’ll have a chance to learn about saving and the importance of nurturing discipline at the same time.
3. Reinforce the ‘don’t replace it if it’s not broken’ rule: The trend today is built on keeping up with new things. It’s like people are constantly competing for the top spot of who has the latest items and all that.
In reality, there’s not much value in that. You end up wasting money on things that don’t add much value to your life.
This simple tip of not replacing if it’s not broken will help you learn how to take care of your items more so that they last longer. You end up saving so much more and this is actually one of the best ways to up your game when it comes to finances.
4. Reinvent your idea of entertainment: Think about the old times when families and friends would spend time together outdoors even before the modern forms of entertainment came to the scene. There were no TVs and people genuinely enjoyed each other’s company.
Friends would enjoy meeting up for picnics with home cooked meals and time at home would be about interacting with one another playing board games instead of being glued to phones or TVs.
Redefining what entertainment is to you can actually change how you handle money and release you from the pressure of buying things that aren’t as necessary as you think.
For example, you can decide to do without a home theater system and you’ll realize that you can actually be happy without some of these things.
Or maybe go back to the times when long walks at the park were enough as compared to the need to impress with over the top dates and expensive gifts.Photo Credit: Getty