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The Great 'best money lessons from your grandparents' Hunt
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Former_MSE_Debs
Posts: 890 Forumite
The Great 'best money lessons from your grandparents' Hunt
We're now firmly ensconced in the 21st century. But as the old saying goes, "there's nowt new under t'sun". So we thought we'd tap MoneySavers' collective knowledge to find out the money wisdom of the ages. Do include what age you were when you got the advice and feel free to include a bit about your grandparents. 0
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Brought up on "look after the pennies and the pounds will look after themselves" A good adage to live by and realised that my 13 year old is starting to become an MSE person herself. I told her I'd saved 60p a month by swapping my boiler cover and was now getting more for my money and she said whilst it didn't sound much over a year that's £7.20 and with other savings it all adds up to being able to buy something you would actually like
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My grandparents always said, "don't borrow, only buy if you can pay for it" :money:
They also frequently said " Make do and mend!" :TThe one thing children wear out faster than shoes is parents
:D0 -
My nanna who was an expert at budgeting always said 'buy too cheaply, buy twice' she has been right on numerous occasions!
She was not encouraging people to buy expensive stuff all the time just that something's you have to pay that little but more for or it will break quicker and cost you more in the long run.0 -
Keeping money separate for different things - she really did have jam jars, whereas I use different bank accounts, but the principle is the same.Getting fit for 2013 - Starting weight 10.1.13 88.1kg
Weight 27.3.13 79.1kg
weight 2.4.13 79.9kg Weight 24.4.13 77.8kg. 4.6.13 76kg
BSC member 3310 -
Way back in the early 1960s my Nana was given her 'housekeeping' monthly, in cash.
She always knew exactly how much she had spent, had left and what it had to pay for. I've tried doing that - hard at first but a great way to help yourself make hard choices as you see the pile of notes dwindle.
She taught me to keep good stocks of staple items and to buy extra when offers came along on items she used a lot- this would have been impossible with a weekly housekeeping allowance.
Grandad grew veg and Nana put money into a tin each time she pulled any up - that way they built up the cash needed for the next year's seed, fertilizer etc.I can cook and sew, make flowers grow.0 -
My granny had a great phrase about people
Fur coat and no knickers
I imagine that all those who borrow to buy luxury items fall into the fur coat and no knickers category.June challenge £100 a day £3161.63 plus £350 vouchers plus £108.37 food/shopping saving
July challenge £50 a day. £ 1682.50/1550
October challenge £100 a day. £385/£31000 -
Mine always told me to try and buy a flat/house as opposed to renting.
She had two purses, one for 'housekeeping' (cash weekly from Grandad) and one for personal use, this was her own wages.A minute at the till, a lifetime on the bill.
Nothing tastes as good as being slim feels.
one life, live it!0 -
'Never bet more that you can afford to lose'
Both my grandparents were avid horse racing enthusiasts. When I was young we often played various card betting games - starting with sweets as stakes and then graduating to pocket money.
And they didn't let me off if I lost the lot!
It was a good lesson to learn at a young age...Penny: I'm a little low on cash.
Leonard: How much you got?
Penny: Nothing!
Leonard: How can you walk around with no money?
Penny: I'm cute, I get by.0 -
Avoid credit at all costs, if you can't save up for an item then you probably don't want or need it anyway. My grandad was deeply suspicious of credit cards and loans, except mortgages. I always try and save up for something I want, partly to avoid debt and also to giveme time to decide whether the item is something I really want. Must admit I have saved for a few higher value things and then changed my mind before purchase.0
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'If you have to ask the price of it then you can't afford it' was my Grandpa's saying and my Grandma's was 'look after the pennies and the pounds will take care of themselves'. Both very true.0
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