8 money lessons from a 79-year-old that stand the test of time
When I think about my childhood, I see that my happiest memories are not connected to the things I had. It’s about the freedom of growing up in a small Ohio town where everyone knows your name and kids run around in groups.
The neighborhood park was our meeting place. A few bikes thrown into a friend’s front yard signaled the start of the game. There were no messages or group chats. But today’s childhood often looks different. Connectivity revolves around gaming consoles, phones, sneakers, and the next must-have gadget. If you can’t afford this, you run the risk of being left out.
This contrast led me to talk to my 79-year-old father, who wears frugality as others wear luxury. He really enjoys finding new ways to save money.
He never tried to keep up with anyone. While others were rushing to buy the latest car or gadget, he was content with what he had. This mentality made him the millionaire next door.
It helped shape my relationship with money. I don’t feel obligated to chase status or possessions. Here are eight lessons from my frugal dad that have stood the test of time and how they’re still relevant today.
1. Let your values guide your financial decisions
Every dollar you spend is a vote for the life you want to build. When your spending aligns with the things that matter most, money feels less like a sacrifice and more like a purpose. For couples in particular, shared values turn financial decisions into a source of clarity rather than conflict.
2. You can always make more money, but not time
Imagine if you could switch places with legendary investor Warren Buffett, who is now 95 years old. Would you? Unlike money, time is scarce and cannot be saved.
Remember this when deciding whether to take a promotion just to get paid more, even if it means spending less time with your family; or working longer hours for a more luxurious car when your current car is working fine; or buying a bigger house when your kids are already going to a great school in a safe neighborhood.
3. The best investment you can make is in yourself
The payoff of decades of personal development. Education, learning a new skill, reading widely, and even investing in therapy can strengthen both your earning potential and resilience. Personal development in a partnership benefits everyone; Stronger individuals create stronger teams.
4. Debt steals tomorrow’s options
Every dollar borrowed restricts future freedom. A loan may seem manageable today, but it silently shapes your choices tomorrow, from the jobs you can take to where you can live. Prioritizing flexibility over finances buys you peace of mind and the ability to change direction when life changes.
5. Turn off the lights when you leave the room
Turning off the lights is a metaphor for the little things we do. This is more than just saving a few bucks on electricity; This is an awareness practice. Every small act of frugality adds up to awareness of how we use our resources.
6. Celebrate simplicity
A quiet life is often a deliberate life. Choosing simplicity means choosing time over objects, presence over pressure, and meaning over noise. Less clutter often leads to less stress and more space for the things that really matter.
7. New cars destroy wealth
The average new car currently sold Above $50,000, and when you factor in financing, fuel, and insurance, monthly costs can exceed $1,200. Vehicles that are around three years old usually hit the sweet spot between price and reliability. Investing in the difference between new and used can significantly increase long-term net worth.
8. Being cheap is not the same as being frugal.
Cheapness takes the easy way out at all costs. Frugality focuses on getting your money’s worth. A frugal person preserves what they have, spends deliberately, and is generous where it counts.
Understanding this difference can prevent endless money conflicts because frugality creates a meaningful life while cheapness slowly erodes joy.
Brian Page is the founder Modern HusbandsA company dedicated to helping couples manage both their financial and household responsibilities as a team. She holds a master’s degree in education and is certified as both an Accredited Financial Advisor® and a Fair Play Certified® domestic labor professional.
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