The 1950s weren’t just about poodle skirts, jukeboxes, and rock ‘n’ roll—people were also pretty smart with their money back then. The simple, no-frills approach they took to spending could actually help you build wealth today. Let’s take a look at some of those ‘50s habits and how you can make them work for you.
1. They Saved First, Spent Later
Back in the ‘50s, people were big on saving. They didn’t spend every dollar they made—they stashed away a portion for the future. You can start by setting aside a small percentage of your income before you even think about spending it. Over time, those savings will grow, and you’ll thank yourself for it.
2. They Weren’t Fans of Impulse Buying
People didn’t have the same “buy now, pay later” mentality that’s so common today. They thought about purchases carefully, often sleeping on decisions before spending. Try giving yourself a 24-hour rule before making any big buys. This gives you time to decide if it’s a need or just a passing want.
3. They Cooked at Home
Dining out was more of a treat than a regular thing in the ‘50s. Families made meals at home from scratch, which saved a lot of money. You don’t have to give up your favorite restaurant entirely, but cooking at home more often can free up extra cash—and you might even find some new recipes to love.
4. Credit Wasn’t in the Picture
Credit cards weren’t a thing for most folks in the ‘50s. If they wanted something, they saved up until they could pay cash. This habit kept debt at bay. While using credit is almost inevitable today, you can still adopt the mindset of only using it when you know you can pay it off in full each month.
5. They Prioritized Quality
People in the ‘50s weren’t into fast fashion or cheap, throwaway products. They bought quality items that lasted. It’s worth investing in things that will stand the test of time. It might feel like a bigger hit upfront, but in the long run, buying well-made goods saves you from constantly replacing cheap stuff.
6. They Kept Entertainment Simple
Life in the ‘50s wasn’t packed with subscription services and expensive entertainment. People had fun without spending much, whether it was a neighborhood BBQ or a night of board games. Cutting back on expensive outings doesn’t mean you’re cutting back on fun. There are plenty of low-cost ways to enjoy life without draining your wallet.
7. They Were Patient With Wealth Building
In the ‘50s, people weren’t expecting overnight riches. They built their wealth slowly and steadily over time. Keep that in mind with your own finances—there’s no need to rush. Consistency in saving, investing, and living below your means will put you on a path to long-term wealth, just like it did for the folks back then.
8. They Used a Budget
People in the ‘50s kept a close eye on their spending by sticking to a budget. They knew exactly how much was coming in and how much was going out. Creating a monthly budget today can help you manage your finances, control expenses, and avoid unnecessary debt.
9. They Fixed Things Instead of Replacing Them
When something broke, people in the ‘50s didn’t just toss it—they fixed it. Adopting a similar mindset can save you a lot of money. Instead of immediately replacing broken items, see if they can be repaired first. You’d be surprised how much you can save.
10. They Avoided Lifestyle Inflation
In the ‘50s, people kept their lifestyles modest even as their incomes increased. They didn’t feel the need to upgrade their homes, cars, or wardrobes constantly. Avoiding lifestyle inflation today can help you save more and build wealth faster.
11. They Paid Bills on Time
Back in the day, paying bills on time was a priority. It helped people avoid late fees and maintain a good reputation. Today, timely bill payments not only save you money but also improve your credit score, which can save you even more in the long run.
12. They Made Their Own Gifts
In the ‘50s, people often made gifts instead of buying expensive presents. Homemade gifts added a personal touch and saved money. Consider creating your own gifts for special occasions—it’s thoughtful and budget-friendly.
13. They Used Cash, Not Credit
Most purchases in the ‘50s were made with cash. Using cash instead of credit today can help you avoid overspending. When you pay with cash, you’re more aware of how much you’re spending, which can help curb impulse buys.
14. They Shopped with a List
People in the ‘50s went shopping with a plan—they knew what they needed and stuck to it. Shopping with a list today can help you avoid impulse purchases and stick to your budget. It’s a simple but effective way to control spending.
15. They Bought in Bulk When It Made Sense
Buying in bulk was common in the ‘50s, especially for staple items. It saved money in the long run and reduced the number of trips to the store. Today, buying non-perishable items in bulk can still be a smart way to cut costs.
16. They Took Care of Their Belongings
People in the ‘50s valued their possessions and took care of them to make them last. Whether it was clothing, furniture, or a car, they maintained what they had. Taking care of your belongings today means fewer replacements and more money saved.
17. They Practiced Delayed Gratification
In the ‘50s, people didn’t buy things the moment they wanted them—they waited and saved up. Practicing delayed gratification today can help you avoid debt and appreciate your purchases more. Waiting until you can afford something makes it all the more rewarding.
By adopting these simple spending habits, you can bring a little ’50s wisdom into your life and start seeing the results in your bank account!
