Growing Up Poor: 13 Ways You’re Taught To Never Waste Money
Written by
Elizabeth Constantineau, AI Editor
Edited by
Amber Barkley
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Growing up poor or with limited financial resources often leaves a lasting impact on how you perceive and handle money as an adult. What might seem like reasonable spending to others — such as frequently dining out — could appear extravagant if you come from a background of frugality. Everyone has unique money habits and perspectives that evolve over time. However, for those who grew up without much money, there are distinct ways you learn to value and conserve your resources, habits that persist well into adulthood.
Distinguishing Needs From Wants
Understanding the difference between necessities and luxuries is a key lesson from a frugal upbringing. It teaches prioritizing essential expenses and questioning each purchase’s necessity. This mindset helps in making thoughtful decisions about spending, ensuring that money is allocated to what truly matters and avoiding the trap of unnecessary indulgences.
The Art of Thrifting
Thrifting isn’t just a way to save money — it’s a lifestyle. Growing up poor teaches you to find value in second-hand items and appreciate the savings that come with buying used. This approach is not only economical but also sustainable, as it promotes the reuse of items and reduces waste.
Homemade Over Store-Bought
Growing up poor often means a focus on homemade items for meals, gifts or clothing, emphasizing lower costs and adding a personal touch. The practice of creating things by hand instills a sense of pride and attachment, rendering these items more meaningful than anything purchased from a store.
The Habit of Budgeting
Learning to budget with limited funds is a crucial skill. It involves tracking every penny, planning expenses and sticking to the budget strictly. This disciplined approach to finances ensures efficient use of resources and helps avoid the pitfalls of overspending and debt.
Valuing Free Entertainment
Enjoying free or low-cost entertainment options becomes second nature. This can include outdoor activities, community events or library resources. Finding joy in simple, cost-free experiences allows for a fulfilling life without the need for lavish spending.
DIY Repairs and Maintenance
Growing up poor often means learning how to fix things instead of replacing them, fostering a handy and resourceful approach to belongings. This skill not only saves money but also cultivates self-reliance and a can-do attitude towards life’s challenges.
Smart Grocery Shopping
This includes buying in bulk, looking for sales, using coupons and avoiding waste by planning meals and using leftovers creatively. Smart shopping habits ensure that food budgets are maximized, getting the most nutrition and variety for every dollar spent.
Energy and Resource Conservation
Being mindful of utility usage, such as electricity and water, is another ingrained habit from a financially limited upbringing. This conservation not only lowers bills but also contributes to a more sustainable lifestyle, respecting and preserving resources.
Delayed Gratification
Learning to wait for the right time to make a purchase, often saving for it, instills patience and wards off impulsive buying. This habit is crucial for long-term financial stability and fosters a more thoughtful approach to consumption.
The Importance of Saving
Even the smallest savings are important. Growing up with less teaches the habit of setting aside a portion of any income, however small. This practice builds a safety net for the future and instills a sense of security and preparedness.
Seeking Quality over Quantity
Investing in quality items that last longer, rather than buying cheaper, less durable goods, is a common lesson from a frugal childhood. It encourages a focus on long-term value and utility, rather than short-lived satisfaction.
Utilizing Community Resources
Leveraging community resources, such as free courses, workshops or exchange programs, is another way growing up poor teaches to maximize resources. This not only saves money but also fosters community engagement and a sense of belonging.
The Power of Negotiation
Bargaining and looking for the best deal is a skill often honed from a young age in financially constrained households. Negotiation leads to better deals and savings, reinforcing the importance of assertiveness and savvy in financial matters.
Final Take
The lessons learned from a frugal upbringing go beyond just saving pennies. They shape a comprehensive way of managing finances, focusing on being sustainable, responsible and self-reliant. Growing up with less teaches you resilience and cleverness in handling money, skills that are useful at every stage of life. Ultimately, these experiences lay the groundwork for a life of financial security and mindfulness, showing that real wealth is often found in the financial wisdom and habits we develop early on.
Angela Mae contributed to the reporting for this article.
Editor's note: This article was produced via automated technology and then fine-tuned and verified for accuracy by a member of GOBankingRates' editorial team.
