Old-Fashioned Saving Tricks That Still Work

Bank Teller
The old adage "a penny saved is a penny earned" calls to mind a time when cash truly was king, when pennies had purchasing power and savings were stored in boxes under beds.

But in today's more sophisticated world of apps, points and credit, maintaining a connection to pennies earned -- and other old-school approaches to spending and saving -- might not be such a bad idea.

Here are some ways to reintroduce some of those old-fashioned money management techniques into your financial repertoire. While no one would recommend stashing savings under a mattress or issuing I.O.U.s for groceries, adopting some tried-and-true tactics for financial management might be just the ticket to thriving in the modern world.

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Give a man a fish, he'll eat for a day. Teach a man to fish, he'll eat forever. I think the same thing can be said about car maintenance.

If you learn how to do routine stuff with your vehicle, you'll never have to go to a mechanic. I drive a Honda Civic from 2004. I bought it in cash in 2007 for $7000. I know basic car maintenance (thanks dad). I pay $30/month full coverage insurance for it (from Insurance Panda). It costs me about $30/month to fill up at the gas tank (and I drive it to work everyday).

I think most people waste the majority of their money on their cars. Not me.

February 18 2014 at 1:23 PM Report abuse rate up rate down Reply

In addition to the usual savings that most do my wife and i have always saved all our change and cash in once a year. We always have between 300 to four hundred $ in coins.Its a little heavy going to the bank but worth it. We also opened a saving account obviously not for the great rates and have $ taken out of our checks when they are deposited.Thus far we are amazed at the savings that added up so quickly. We recently added additional $ to be taken out. It\'s painless because we never see it.

April 16 2013 at 9:58 PM Report abuse rate up rate down Reply

get rid cellphones & cig. then count your savings

April 16 2013 at 2:52 PM Report abuse rate up rate down Reply
VasTex Inc.

Stash away your single dollar bills. If you pay with a $5 bill for example and get two or three singles back, stash them away. It\'s not like you can buy much with them anyway and they add up quickly. I learned that suggestion from somewhere else and didn\'t think much of it but tried it and in a month I had $77.00 in singles.

April 16 2013 at 8:06 AM Report abuse rate up rate down Reply