2 Grandma’s 8 Effective Tips on Saving Money

Many of us would prefer to listen to our grandparents’ advice rather than our parents or our own. It’s probably because of their experience, or it’s because they’re not annoying like other people (sorry mom and dad). Now, if there’s something I’d never forget about my grandma, it’s her tips on how to save money.

                Let me share my grandma’s money wisdom to you.

1)      Use a Piggy Bank

I remember getting a piggy bank for my birthday, and Christmas, and my next birthday. Honestly, I always thought they were useless. However, she said I should just keep them out in the open, and set them near the door so I could slip spare change or extra bills in my pockets. True enough, it became so easy to drop the coins I had on me, and by the end of each year, I managed to save a good amount that proved to be a decent addition to my savings.

2)      Have a Budget

Whenever she randomly gave me money (it’s probably because she loves me so much), grandma would always ask me how I planned to spend it. What did I want to buy? Would I save it instead? If I said I wanted to buy something, she’d remind me not to spend it all in one go. Instead, she suggested I make a budget to make the most out of my money.

3)      Live a Simple Life

As I mentioned above, my grandmother was never the fancy type. Even though she had money, she knew it was enough to have decent clothes and food to eat each day. She didn’t go on luxurious shopping sprees or spent money for costly house decors. By her example, I learned never to waste money on designer clothes and shoes either.

4)      Save for Retirement

Before retiring, my grandmother was an outstanding employee wherever she worked. She was known for her tireless efforts to produce great results. She was never complacent with her tasks. When I asked her why she was working so hard, she told me she was also saving for her retirement. She didn’t want to rely on pensions or money from her children. She wanted to make sure she had her own means of ensuring she lived comfortably, and that would only be possible if she had enough money saved.

5)      Unplug Electrical Appliances When Not in Use

My grandmother always called us out for leaving our appliances plugged in (except the refrigerator) when we weren’t using them. Sometimes, she unplugged my mobile phone while I left it recharging on the table. Though these make her seem pesky at times, it actually helped cut a few dollars off our electricity bill. Another lesson learned there: small sacrifices actually do help in the long run.

6)      Don’t Use Too Much Gadgets

Speaking of gadgets, my grandmother disliked it when we were too gadget-dependent. She always said it was better to talk to people in person. That it was better to write on paper, to call people instead of texting. And although she loved to do video conference calls with our family members overseas, she told us simplicity was still the best. We grew up without feeling the need to get the latest phones or tablets—and we never felt bereft in any way.  

7)      Walk

Aside from a sterling reputation at work, my grandma was also known for being a regular “walker” outside her home. She would spend her mornings walking back and forth the sidewalk. She would do her inhale-exhale exercises in the fresh morning air while greeting her neighbors. This made her strong and healthy. She told us to do the same. So when I started to work already, I’d walk instead to wherever I needed to be—so long as these places were only a few short distances away. I didn’t think riding taxis or driving cars was ever a necessity, so this habit helped me save money.

8)      Love Your Family

This particular advice, she didn’t really tell me straight. I say this because this is how I saw her live her life. My grandmother gave so much importance to money, but she knew when and how to spend it properly. She didn’t waste it on jewelry or stuff she knew she wouldn’t really use. If there was something she spent huge on, it was on me and on the rest of the family. Every now and then she would buy food to cook for the whole clan. There’s really nothing like a deliciously-prepared home-cooked meal to bring everyone together. It was always about keeping the family tight-knit.  

                It has definitely been easy add to—and grow—my savings because I saw how grandma did it her whole life. I know that when I have my own family, I’d do the same as well. The best way to teach something is to live it, after all. I’m sure that if anyone else follows these tips and makes them their own, more people are surely going to reap the financial, and emotional benefits, in their lives— all thanks to my grandma’s money saving advice.

About The Author:

Mark Yasay is a social media enthusiast and a writer for MoneyMax, the Philippines most comprehensive online platform for comparing financial and telecom products. MoneyMax aims to consistently find the best broadband plans, credit cards, loans, and other services and products that suit your needs.