15 Ways People Saved Money in the 90s
The 1990s was a decade of significant financial evolution and technological advancement. As the internet began to gain traction, it opened new avenues for saving money and managing finances. The dot-com boom led to an array of online resources, making financial information more accessible than ever before.
Despite the economic fluctuations, including recessions and booming markets, individuals found innovative ways to stretch their dollars and make informed financial decisions.
Let’s chat about practical methods from that era that helped people save money amidst rapid technological changes and evolving economic landscapes.
1. Coupon Clipping
In the 90s, clipping coupons from newspapers and magazines was a widespread practice. These coupons provided discounts on groceries and household items, helping families stretch their budgets further. People often spent time on Sunday mornings going through the newspaper to find the best deals, organizing their coupons in binders or envelopes for easy access during shopping trips.
How Couponing Worked and Why It Helped Save Money in the 90s
During the 90s, couponing was more than just a money-saving tactic; it was an integral part of household management. People found coupons in various sources such as newspapers and magazines, mailed circulars, and occasionally received them in-store advertisements or with product packaging.
Savvy savers would meticulously collect and organize their coupons, often dedicating significant time to ensuring they capitalized on the best deals. Compared to today’s digital discounts, which are easily accessible through apps and online platforms, couponing in the 90s was a more manual and time-consuming process.
However, the substantial savings made it worth the effort, allowing families to reduce their grocery bills significantly and allocate those funds to other essential expenses. This practical approach to stretching the dollar made a considerable difference in household budgets during a decade marked by varying economic conditions.
2. Shopping Sales
People waited for sales, especially during major holidays and clearance events, to purchase items at reduced prices. This required patience and planning but yielded significant savings. Major sales events included post-Christmas sales, back-to-school sales, and annual clearance events, which were highly anticipated and often advertised in newspapers and through flyers.
3. Black Friday Shopping
Black Friday, the day after Thanksgiving, was one of the most anticipated shopping days in the 90s. Unlike today’s online deals and early access sales, Black Friday in the 90s was primarily an in-person event. Retailers would open their doors early, and shoppers would queue up, sometimes camping out overnight, to get their hands on limited-time offers and deeply discounted products.
How Black Friday Worked and Why It Helped Save Money in the 90s
During the 90s, Black Friday was all about physical presence and timing. Retailers would advertise their doorbuster deals through newspapers and flyers, creating a buzz and high anticipation. Shoppers would plan their moves meticulously, often visiting multiple stores to capitalize on the best deals. The discounts on Black Friday were considerable, enabling people to purchase big-ticket items like electronics, appliances, and toys at a fraction of their regular prices.
The absence of online shopping meant that people had to be more strategic and determined, braving the early morning lines and the crowd surges to secure their desired items. While this approach required significant effort and sometimes even aggressive tactics, it paid off with substantial savings. Families could afford gifts and essential items that might otherwise have been out of reach.
This experience contrasts sharply with today’s Black Friday, which has expanded to an entire week or more of deals, largely driven by online shopping. Today, consumers can browse and buy from the comfort of their homes, leveraging a multitude of online platforms, apps, and early access promotions to secure deals. While the essence of savings remains, the convenience factor has significantly improved, reducing the physical exertion and condensed timeframe that defined Black Friday shopping in the 90s.
3. Bulk Buying
Shopping at warehouse stores like Costco or Sam’s Club allowed families to buy in bulk, reducing the per-unit cost of items like food and household supplies. These memberships were seen as investments, as buying in bulk often resulted in long-term savings, particularly for non-perishable goods.
How Bulk Buying Worked and Why It Helped Save Money in the 90s
Bulk buying emerged as a popular strategy in the 90s, driven by the rise of warehouse club stores like Costco, Sam’s Club, and BJ’s Wholesale. These stores offered memberships that gave families access to a wide array of products at significantly reduced per-unit costs.
The concept behind bulk buying was simple: by purchasing larger quantities, consumers could lower the price per item and make fewer trips to the store, thus saving both time and money. Non-perishable goods, cleaning supplies, and staple food items were particularly targeted for bulk purchases.
The financial wisdom of bulk buying in the 90s was especially pronounced in households with ample storage, as it required space to store large quantities of items. Savvy shoppers would also group their purchases based on shelf life and usage patterns, ensuring that nothing went to waste.
Bulk buying not only eased the burden on monthly budgets by reducing grocery bills but also provided a sense of security by keeping pantries well-stocked.
Bulk Buying Today
In the present day, the principles of bulk buying remain largely unchanged, but the convenience and accessibility have evolved significantly. Membership warehouse stores continue to thrive, but the advent of online shopping has added an extra layer of convenience.
Retail giants such as Amazon offer bulk purchasing options and subscription services, enabling consumers to order large quantities of goods from the comfort of their homes. This has mitigated some of the storage constraints and the need for frequent trips to a physical store.
Moreover, technology now aids in better inventory management, with apps and digital reminders helping households keep track of their stockpile and shopping lists. Online customer reviews and price comparison tools allow consumers to make more informed choices. Despite these advancements, the essence of bulk buying—saving money by reducing per-unit costs—remains a valuable strategy.
However, today’s consumers benefit from a more streamlined and less time-consuming process, making bulk buying accessible to an even broader audience. Similar to the 90s, bulk shopping continues to provide substantial savings but with the added benefits of modern technology and e-commerce.
4. DIY Repairs and Maintenance
Handling home repairs, car maintenance, and other tasks themselves saved people money that would have otherwise gone to hiring professionals. Homeowners often relied on DIY books from the library or advice from neighbors and friends to complete these projects.
How DIY Repairs and Maintenance Helped Save Money in the 90s
In the 90s, tackling DIY repairs and maintenance was a crucial money-saving strategy for many households. Faced with potentially high costs of hiring professionals for home and car repairs, individuals turned to do-it-yourself solutions to keep expenses in check.
Local libraries were gold mines for DIY guides, ranging from fixing leaky faucets to changing car oil, and popular TV shows and magazines often featured step-by-step projects that made complex tasks more approachable.
The community played a significant role in the effectiveness of DIY methods. Neighbors would frequently help each other with larger projects, sharing tools and expertise. This not only reduced the need for professional intervention but also fostered a sense of camaraderie and self-reliance. Craft and hardware stores swelled with patrons eager to pick up supplies for their next project, making home repairs a regular weekend activity.
DIY Repairs and Maintenance Today
Fast-forward to today, and the DIY landscape has undergone a significant transformation. The digital age has enhanced the accessibility and scope of DIY projects. YouTube tutorials, online forums, and countless blogs provide instant answers and visual guides for virtually any repair one could imagine. This wealth of information has made it easier than ever for individuals to undertake and successfully complete DIY projects.
Modern advancements in tools and materials have also simplified many tasks that once required specialized skills. For example, user-friendly kits for plumbing or electrical repairs are now available, making these jobs more accessible to novices. Despite this, the fundamental philosophy remains the same: carrying out repairs and maintenance on your own can lead to considerable financial savings.
However, the necessity for DIY has somewhat diminished with the rise of professional services that offer more affordable rates and faster services due to advanced technology. Nonetheless, for those who enjoy the hands-on satisfaction and the cost savings, DIY projects continue to be a popular choice. Today’s DIYers benefit from better resources and a more connected community, ensuring that the age-old practice of do-it-yourself remains a valuable tool for savvy homeowners.
5. Energy Conservation
Reducing utility bills was a priority. Families used energy-efficient appliances, turned off lights, and adjusted thermostats to save on electricity and heating costs. Common practices included using weather stripping on doors and windows, installing programmable thermostats, and using ceiling fans instead of air conditioning.
How Energy Conservation Helped Save Money in the 90s
During the 90s, energy conservation became a vital part of household cost-saving strategies. Escalating energy bills and growing environmental awareness prompted families to seek ways to reduce their consumption. The energy crisis of the 70s still lingered in the collective memory, encouraging more mindful use of resources.
To lower electricity and heating costs, families turned to simple yet effective methods like turning off lights when not needed, using energy-efficient appliances, and adjusting thermostats to optimal settings. Weather stripping on doors and windows, insulating homes, and installing programmable thermostats were also common measures to prevent energy wastage.
Moreover, energy-efficient appliances, such as refrigerators and washing machines, started gaining popularity. These appliances were designed to consume less electricity while performing at the same or even better levels than their older, more power-hungry counterparts.
Ceiling fans were often preferred over air conditioning to cool homes more cost-effectively. These practices not only helped in reducing utility bills but also contributed to the burgeoning movement towards environmental stewardship.
Energy Conservation Today
In today’s world, energy conservation continues to be a significant focus, but the tools and resources available have evolved dramatically. With advancements in technology, modern households now have access to smart thermostats, energy-efficient LED lighting, and smart home systems that optimize energy usage automatically.
The rise of renewable energy sources like solar panels has also given homeowners new ways to reduce their dependence on conventional energy grids and lower their utility bills.
Environmental concerns are more prominent than ever, driving the adoption of greener energy practices. Government incentives and rebates for energy-efficient home improvements have made it financially attractive to upgrade to energy-saving appliances and systems. Furthermore, real-time energy tracking through mobile apps allows users to monitor and manage their consumption patterns more effectively than the rudimentary methods available in the 90s.
The reason behind energy conservation today remains consistent with the past: to save money and protect the environment. However, the solutions have become more sophisticated, providing greater convenience and impact. As climate change continues to be a pressing issue, the importance of energy conservation and the motivations behind it have only intensified, making it a critical component of modern living.
6. Budgeting
Maintaining a strict household budget was essential. People tracked their income and expenses meticulously to avoid overspending and to ensure they could save for future needs. Many used physical ledger books or early computer programs like Quicken to keep their finances in order.
In its simplest form, a budget is a financial plan that outlines an individual’s or household’s expected income and expenses over a specific period. During the 90s, budgeting was an essential practice for many families as it provided a clear and structured approach to managing their finances.
People meticulously recorded their earnings and expenditures using physical ledger books or early computer programs like Quicken. This diligent tracking was necessary to avoid overspending and to ensure that there was money set aside for future needs and emergencies.
Budgeting in the 90s involved categorizing expenses into various buckets such as groceries, utilities, rent or mortgage payments, entertainment, and savings. Each category had a designated amount based on income levels and spending priorities.
The importance of budgeting lay in its ability to provide financial stability and foresight, enabling families to make informed decisions about their spending and saving habits. Sticking to a budget helped individuals avoid debt, provide for unexpected expenses, and achieve long-term financial goals such as purchasing a home, funding education, or saving for retirement.
The disciplined approach to tracking every dollar ensured that families lived within their means and built a secure financial foundation for the future.
7. Secondhand Shopping
Thrift stores, garage sales, and flea markets were popular places to find clothes, furniture, and other items at a fraction of the cost of new ones. This practice not only saved money but also promoted recycling and reusing items, contributing to a more sustainable lifestyle.
Secondhand shopping in the 90s was a practical and resourceful approach for families looking to stretch their budgets further. Thrift stores, garage sales, and flea markets were treasure troves where one could find clothes, furniture, toys, and household goods at significantly reduced prices.
For instance, a family might purchase a gently used dining table or a kid’s bicycle for a fraction of the cost of new ones, thus freeing up finances for other necessities or savings. This practice not only made economic sense but also promoted the recycling and reusing of items, contributing to a sustainable lifestyle long before it became a mainstream concept.
Today, the ethos of secondhand shopping remains, but the landscape has evolved with the advent of online platforms such as eBay, Craigslist, and Poshmark. These digital marketplaces broaden access to secondhand goods, allowing for easier connections between buyers and sellers, sometimes even across different regions.
Moreover, modern-day thrift shops and consignment stores have become more curated, offering stylish and high-quality items that appeal to a broader audience.
The principle remains the same — saving money and reducing waste — but the convenience and variety have improved significantly, helping secondhand shopping remain a valuable and popular practice in contemporary society.
8. Meal Planning and Home Cooking
Cooking at home instead of dining out was a significant money saver. Planning meals also helped reduce food waste and grocery bills. Families often cooked in large batches and used leftovers creatively to stretch their food budget further.
During the 90s, meal planning and home cooking were integral to household management and created opportunities for family bonding. Families often organized their weekly meals in advance, ensuring they utilized ingredients efficiently and minimized food waste. For example, a typical weekly plan might include roasting a whole chicken on Sunday, with leftovers repurposed into soups, sandwiches, or casseroles throughout the week. This approach helped reduce grocery bills by making the most out of every ingredient.
To aid in meal planning, families sometimes relied on tried-and-true recipes passed down through generations or popular cookbooks like “The Joy of Cooking” and “Better Homes and Gardens New Cook Book.” They also clipped recipes from magazines or exchanged them with friends and neighbors. Bulk cooking on weekends was another common practice; large pots of spaghetti sauce, chili, or stew could be divided into portions and frozen for future meals.
These strategies not only saved money but also ensured that families had wholesome, home-cooked meals readily available, fostering healthier eating habits compared to dining out or opting for convenience foods.
9. Using Public Transportation
Saving on gas and car maintenance was possible by using buses, trains, or carpooling, which were cost-effective alternatives to owning and driving personal vehicles. Monthly passes for public transportation provided additional savings and convenience.
Using public transportation was a common cost-saving measure during the 90s. Many families relied on buses, trains, and carpooling to navigate their daily commutes and errands. Public transportation systems were often well-developed in urban areas, providing affordable and convenient alternatives to owning and maintaining personal vehicles.
Monthly passes offered further savings and eliminated the stress of fluctuating gas prices and parking fees. Carpooling, whether organized informally with neighbors or through workplace programs, also reduced the financial burden associated with fuel and vehicle upkeep.
In contrast, today’s transportation landscape has evolved with the introduction of ride-sharing services like Uber and Lyft, making it easier for individuals to forego personal vehicle ownership.
Also, technological advancements have enhanced public transportation systems with real-time tracking and seamless payment methods via smartphone apps. Despite these improvements, the fundamental principle of saving money by utilizing public transportation or carpooling remains relevant.
However, there is now a greater emphasis on sustainability and reducing carbon footprints, driving the adoption of electric and hybrid vehicles, and promoting cycling and walking as viable alternatives. While the modes of transportation have diversified, the goal of economizing and opting for eco-friendly options continues to shape contemporary transit choices.
10. Investing in Savings Accounts and CDs
High-interest savings accounts and Certificates of Deposit (CDs) were popular for better returns than standard checking accounts, helping people grow their savings securely. Banks frequently offered promotional rates for new accounts, encouraging people to save more.
During the 90s, savings accounts and Certificates of Deposit (CDs) were vital tools for individuals looking to grow their financial reserves securely. High-interest savings accounts offered attractive returns compared to standard checking accounts, providing a safe place to deposit money while earning interest over time.
CDs, on the other hand, provided even higher interest rates in exchange for leaving the deposited funds untouched for a set period, ranging from a few months to several years. Banks frequently offered promotional rates to entice new customers, making these financial products an appealing option for both short-term and long-term savings strategies.
In the 90s, people used these accounts to save money for various purposes, such as building emergency funds, accumulating down payments for homes, or planning for future educational expenses.
The guaranteed interest rates provided a reliable way to grow savings without exposing the money to market risks. Moreover, the sense of security and predictability associated with savings accounts and CDs aligned well with the conservative financial mindset prevalent during that era.
In contrast, the current financial landscape offers a broader array of savings and investment options. While savings accounts and CDs still exist, they often offer lower interest rates due to prevailing economic conditions and inflationary pressures.
Today’s savers might explore alternative avenues like high-yield online savings accounts, which may provide better returns than traditional bank offerings, or investment accounts such as stocks, bonds, and mutual funds, which carry higher risks but potentially greater rewards.
Financial technology (fintech) has revolutionized how people manage and grow their money. Online banking platforms and mobile apps bring convenience and accessibility, allowing users to monitor and transfer funds effortlessly. Platforms like Robo-advisors have democratized investing, providing algorithm-driven financial planning services at lower costs.
Despite the evolution in financial products and technology, the fundamental principle of saving money securely remains a key objective for many. The methods have diversified, yet the goal of building a financial cushion for the future endures, illustrating a timeless pursuit of financial stability and growth.
11. Cutting Cable
Many families used antennas for free TV or opted for basic cable packages to reduce entertainment costs, avoiding the high prices of premium channels. Some also relied on local libraries for free access to books, movies, and music.
The shift towards cutting cable was primarily driven by the high costs associated with premium channels and extensive cable packages. During the 90s, many families found that cable subscriptions strained their budgets, with monthly fees continually rising and offering little room for customization. Premium channels such as HBO and Showtime demanded additional fees, which further contributed to the financial burden. Given these escalating costs, families sought more economical ways to enjoy television and entertainment without sacrificing too much in terms of quality or choice.
In response, a significant number of households decided to use antennas to access local broadcast channels for free. This provided essential channels, including ABC, CBS, NBC, and PBS, which offered a range of news, entertainment, and educational programming. With these options, families could still enjoy watching TV without incurring monthly charges.
Basic cable packages became a popular choice for those who wanted a wider selection of channels at a more affordable price point, often including essential networks and a few cable channels like CNN or MTV.
Public libraries also emerged as vital resources, offering free access to a plethora of entertainment options, including books, movies, and music. Families could borrow video tapes and DVDs, providing an economical alternative to purchasing movies or subscribing to costly cable services.
By utilizing these options, families managed to significantly reduce their entertainment expenses, reallocating those savings to other essential areas such as groceries, education, or savings accounts.
12. Reducing Credit Card Use
Limiting the use of credit cards helped people avoid high-interest debt and fees, promoting financial stability and encouraging saving. People preferred using cash or checks for everyday purchases to stay within their budget and avoid accumulating debt.
You see, in the 90s, the use of credit cards was often curtailed by individuals seeking to maintain financial stability and avoid the pitfalls of high-interest debt. This era saw many Americans becoming increasingly wary of the accumulating interest and fees associated with credit card usage.
The prevalent economic conditions, characterized by recessions in the early part of the decade, prompted a conservative approach towards personal finance. People aimed to stay within their budget by using cash or writing checks for everyday purchases, thereby avoiding the temptation to spend money they didn’t have on hand.
Moreover, excessive credit card debt from the 80s cautioned consumers of the financial distress that could follow when payments became unmanageable. Many individuals set limits to their credit card use to dodge high-interest rates, which could quickly inflate a modest balance into a burdensome debt.
Instead of relying on credit, families focused on living within their means, opting for saving and budgeting as primary financial strategies. This period saw the popularization of layaway plans and saving for big purchases rather than charging them on credit.
In contrast, the current financial landscape offers a wealth of options designed to facilitate responsible credit card usage, such as rewards programs, lower interest rates, and greater transparency in billing.
Innovations like budgeting apps and financial calculators also help consumers track and manage their credit card spending more effectively. While the risk of accruing high-interest debt remains, modern technology and financial literacy programs have made it easier for people to use credit cards strategically, potentially even leveraging them to earn rewards and build credit history.
Nonetheless, the underpinning principle remains the same: whether in the 90s or today, a cautious approach to credit card use is key to maintaining financial health.
13. Entertainment at Home
Renting movies from stores like Blockbuster, playing board games, or reading books provided affordable entertainment options compared to going out to theaters or other costly venues. Video rental stores often had special deals like “rent one, get one free” on certain days of the week.
Families often gathered for game nights, creating cherished memories without the need to spend a lot of money. Popular options included playing classic board games like Monopoly, Scrabble, and Clue, which were engaging and provided hours of fun.
Another common form of entertainment was video gaming, with consoles such as the Nintendo Entertainment System (NES) and the Super Nintendo (SNES) leading the way. Games like Super Mario, The Legend of Zelda, and Donkey Kong became household staples, bringing family members together in their living rooms for shared excitement and friendly competition.
Reading books was another favored pastime, often encouraged by borrowing from the local library. This allowed families to enjoy a wide variety of literature and educational material without the cost of purchasing new books. Crafting, cooking together, and listening to music also played a significant role in household entertainment, reflecting a resourceful and community-focused approach to leisure time.
14. Gardening
Growing their own vegetables and herbs not only provided fresh produce but also reduced grocery bills and offered a rewarding hobby. Community gardens were also popular, providing shared spaces for people to grow their own food and share gardening tips.
Gardening emerged as a practical and cost-effective way for families to supplement their food supplies and reduce grocery expenses. With economic uncertainty influencing household budgets, many turned to their backyards to grow fresh produce, essentially creating their own mini markets.
Home gardens were often filled with a variety of vegetables and herbs like tomatoes, cucumbers, peppers, basil, and parsley, which required minimal investment but provided abundant yields.
For instance, growing tomatoes at home allowed people to save on the cost of buying them at the store, and they could be used in a range of homemade dishes from salads to sauces. Herbs like basil and parsley could be easily grown in small pots, reducing the need to purchase expensive pre-packaged herbs. Gardening also provided a unique opportunity to grow organic produce, which was becoming increasingly popular but could be quite costly to buy.
Community gardens were another notable feature of the 90s, offering shared spaces where individuals could cultivate their own plots. These communal efforts not only helped lower individual costs but also fostered a sense of community as gardeners shared tips, tools, and even harvested produce.
Programs and workshops held at these community gardens educated people on sustainable gardening practices, crop rotation, and pest control, further enhancing their ability to grow food effectively and cheaply.
Overall, gardening in the 90s wasn’t just about saving money—it was a rewarding hobby that brought families closer, promoted healthy eating, and nurtured a connection with nature. The produce harvested from these gardens could be preserved through canning or freezing, ensuring that the benefits extended through seasons when fresh produce might be less available or more expensive.
15. Carpooling
Sharing rides with coworkers or friends saved money on gas and reduced vehicle wear and tear, making it a popular and eco-friendly choice. Carpool lanes on highways encouraged this practice by offering a faster commute for those who carpooled.
Carpooling in the 90s was an essential practice borne out of both economic and environmental necessity. With rising fuel costs and increasing awareness of environmental issues, sharing rides became a cost-effective solution for daily commutes.
The concept behind carpooling was straightforward: multiple individuals traveling to similar destinations would share one vehicle instead of each driving separately. This arrangement not only saved money on fuel but also cut down on the wear and tear of individual vehicles, reducing the overall maintenance costs.
Carpooling often originated within workplaces where colleagues coordinated their schedules to share rides to and from work. This practice was further encouraged by the establishment of carpool lanes on highways, which provided a smoother and faster commute for cars with multiple passengers. These High Occupancy Vehicle (HOV) lanes served as a significant incentive, reducing travel time during peak hours.
In addition to workplace arrangements, there were also community carpool boards and services, often managed through local community centers or bulletin boards, where individuals could find carpool partners. The savings from carpooling were substantial, with participants typically splitting fuel costs, which lessened the financial burden for each individual.
Comparing carpooling in the 90s to today, the core principles remain the same, but technology has significantly streamlined the process. Modern carpooling benefits from apps and websites that facilitate ride-sharing arrangements quickly and efficiently. Platforms like Waze Carpool and carpooling features within larger rideshare apps like Uber and Lyft allow users to match routes, split costs digitally, and even add layers of safety through user reviews and real-time tracking. Furthermore, the increased focus on sustainability has renewed interest in carpooling as an eco-friendly travel option, helping to reduce carbon emissions and traffic congestion.
While the motivations for carpooling have remained consistent—saving money and reducing environmental impact— the ease and efficiency of arranging carpool rides have dramatically improved with the advent of digital solutions.
