When times were tough, resourcefulness wasn’t a lifestyle—it was the only option that worked.
The Great Depression wasn’t just an economic event—it was a way of life that shaped an entire generation. For the people who lived through it, frugality, grit, and creative problem-solving weren’t personality quirks or “hacks.” They were survival strategies. Fast forward almost a century, and Millennials are facing a different kind of economic squeeze: inflation, housing crises, student debt, job market volatility. Different causes, same pressure to figure it out without much help. And while the tools might look different now, the mindset still holds up.
There’s a lot of wisdom buried in the stories of Depression-era survivors—small habits and big mental shifts that made it possible to live with less while still holding on to dignity and community. These lessons aren’t about going backward or glamorizing hard times. They’re about borrowing smart, time-tested approaches to stretch your resources, make peace with uncertainty, and find security in things money can’t always buy. These 11 principles have aged well—and might be more relevant than ever.
1. Waste nothing, and everything has a second life.
People who lived through the Great Depression didn’t throw things away because they couldn’t afford to. Worn clothes became cleaning rags. Glass jars were used for storage. Scraps of fabric were stitched into quilts or repurposed as patches. It wasn’t just about saving money—it was about respecting resources and squeezing value out of every item you owned, according to Joy Kincaid at Artful Homemaking.
Millennials are starting to pick this up through sustainability movements, but there’s still room to lean in further. Before tossing something, ask: can this be repaired, reused, or repurposed? Getting creative with what you already have can delay new purchases, reduce waste, and add a little pride to your problem-solving toolkit.
2. Learn basic cooking skills so food isn’t a constant expense.
Depression-era kitchens weren’t full of fancy gadgets or DoorDash receipts. People cooked simple meals at home—often using what was cheap, in season, or about to spoil. They knew how to stretch ingredients, repurpose leftovers, and make a pot of soup last for days. Meals didn’t have to be elaborate to be nourishing.
Basic cooking is one of the most powerful money-saving skills you can build, as reported by the authors at Wemoney. You don’t need to be a chef. Learn a handful of easy, adaptable recipes, keep your pantry stocked with essentials, and stop thinking of takeout as the default. Cooking at home regularly can slash your food budget and reconnect you with something that’s too easy to outsource.
3. Fix it instead of replacing it every time something breaks.
When money was tight, fixing something was the default, not the last resort. Shoes were resoled. Appliances were tinkered with. Buttons were sewn back on. The first instinct wasn’t to toss it and buy a new one—it was to see what could be salvaged, even if it took effort or time, as stated by the authors at Better Money Habits.
This mindset still works. You don’t need to become a master repair person overnight, but learning to handle simple fixes—patching a hole, unclogging a drain, tightening a hinge—can save you a surprising amount over time. It also builds confidence. You’re not just preserving stuff—you’re preserving independence.
4. Embrace hand-me-downs and secondhand as smart, not shameful.
Depression-era families passed down everything: clothes, toys, furniture, even tools. Buying brand new was rare and often unnecessary. Things were cared for and shared, not discarded at the first sign of wear. It wasn’t about looking trendy—it was about using what worked and making do with less.
Today, thrift shops, Buy Nothing groups, and online marketplaces are full of good-quality items at a fraction of retail price. There’s no shame in secondhand—it’s budget-friendly, eco-conscious, and often leads to finding items with way more character than anything mass-produced. Let go of the idea that newer is always better. It rarely is.
5. Share resources and lean on community, not just your wallet.
In the 1930s, people didn’t survive alone. Neighbors helped neighbors. Families pooled resources. Barter systems popped up when money was scarce. When things got tight, people didn’t hide it—they reached out, traded services, or simply showed up for one another.
Today, community looks different but can serve the same purpose. Swap childcare with friends. Trade skills instead of hiring everything out. Join mutual aid networks. It’s not about asking for handouts—it’s about recognizing that shared effort is part of survival. Building a network makes you richer in ways money can’t match.
6. Always keep a stash of cash for the unexpected.
People who lived through the Depression didn’t trust banks much—and for good reason. Many kept a little cash tucked away at home for emergencies, knowing that access to money wasn’t always guaranteed. It wasn’t paranoia. It was preparation.
In modern terms, this means having an emergency fund. Even a few hundred dollars set aside for car repairs, medical bills, or job hiccups can be the difference between a minor stressor and a financial crisis. It’s not glamorous, but it’s one of the most stabilizing habits you can build. Start small, stay consistent, and let it grow.
7. Avoid debt unless it’s absolutely necessary.
Credit wasn’t widely available during the Great Depression, and people learned to fear debt like the plague. If they couldn’t pay cash, they didn’t buy it. That created a frugal mindset centered around saving first and spending later—an idea that feels almost radical in today’s buy-now-pay-later world.
While not all debt is evil, treating it casually leads to trouble fast. Use credit strategically—pay it off monthly, avoid carrying balances, and save for what you can. Learning to wait, plan, and prioritize can save you thousands in interest and bring a huge dose of peace to your finances.
8. Grow something—even if it’s just herbs on your windowsill.
Victory gardens weren’t just for patriotism—they were for survival. Families grew their own food to offset shortages and high prices. Even a small patch of land or a few pots on a porch provided fresh produce and a sense of security during uncertain times.
You don’t need a full backyard to benefit from this habit. Start with basil, tomatoes, or lettuce in containers. It’s cheaper than buying fresh every time, and it connects you to your food in a way most grocery trips don’t. Plus, there’s something oddly empowering about eating something you grew yourself.
9. Live below your means—not at the edge of it.
People who made it through the Great Depression knew that living right at the edge of what you could afford was risky. One lost job or failed crop could wipe you out. So they lived beneath their means whenever possible, saved what they could, and made frugality a lifestyle—not a temporary fix.
This doesn’t mean depriving yourself—it means creating margin. If you get a raise, don’t inflate your lifestyle to match it. Bank the difference. If you get a bonus, use it to pay off debt or pad your savings. Living beneath your means gives you options when life doesn’t go as planned—and it rarely does.
10. Find joy in simple, low-cost pleasures.
During the Great Depression, people didn’t stop having fun—they just found cheaper ways to do it. Card games, music at home, picnics in the park, books from the library. Entertainment wasn’t about spending—it was about connection and creativity.
That mindset still works. Streaming marathons and weekend getaways are fun, but so are homemade meals with friends, neighborhood walks, and backyard hangouts. Rediscovering joy in simplicity doesn’t just save money—it improves your mental health, too. The less your happiness depends on spending, the more resilient you become.
11. Measure wealth by stability, not status.
People who lived through the Depression rarely bragged about stuff—they valued having enough. A roof over their heads, food on the table, and a little money tucked away was the goal. It wasn’t about keeping up. It was about staying steady, even when the world was shaky.
That perspective matters now more than ever. Flashy lifestyles mean nothing if they’re built on debt and insecurity. Define wealth for yourself: maybe it’s freedom from monthly panic, or enough savings to quit a toxic job. When you focus on stability instead of image, you start building a life that’s sustainable, not just impressive.