Scrolling through my social feeds, I’m constantly hit with ads promising to teach me the “secret” to building wealth. Usually involving crypto, side hustles, or some get-rich-quick scheme that sounds too good to be true (they usually are by the way).

But here’s the thing – my parents’ generation seemed to figure out money without any of that noise.They lived through recessions, bought houses on single incomes, and somehow managed to save for retirement without needing seventeen different investment apps.

Recently, a survey by LendingClub found that over 60% of Americans say they’re living paycheck to paycheck, which makes you wonder what changed.

The 1980s weren’t perfect, but there were some rock-solid money habits that seem to have gotten lost somewhere between then and now. Habits that didn’t require a finance degree or a TikTok following to understand.

Maybe it’s time we stopped looking for shortcuts and started looking backward for some surprisingly simple wisdom?

1. They bought modest homes they could actually afford

Remember when your parents bought their first house and it was… just okay?

Not Instagram-worthy, not in the trendiest neighborhood, and definitely not the biggest one they could qualify for. They bought what they needed, not what they wanted to show off.

This wasn’t about lacking ambition – it was about understanding that your house payment shouldn’t stress you out every month.

Today’s mentality seems to be “buy the most expensive house the bank will approve you for.” But that bank approval doesn’t factor in your Netflix subscription, your student loans, or the fact that you actually want to eat out occasionally.

My parents bought a smallish three-bedroom house in a decent area and stayed there for fifteen years. Boring? Maybe. But they slept well at night knowing they could handle the payments even if one of them lost their job.

Your home should be a foundation for building wealth, not the thing that prevents you from having any money left over.

2. They fixed things instead of replacing them

When something broke in the 80s, the first instinct wasn’t to check Amazon for a replacement.

My dad had a toolbox that actually got used. Washing machine making weird noises? He’d take it apart and figure it out. Lawn mower wouldn’t start? YouTube didn’t exist, so he’d tinker with it until it worked.

This wasn’t just about being handy – it was a completely different relationship with money and possessions.

Today, we’ve been conditioned to think everything is disposable. Phone screen cracks? New phone. Blender stops working? Toss it and buy another one. We don’t even consider repair as an option most of the time.

But here’s what that habit really represented: understanding the difference between a want and a need. When you’ve spent an afternoon fixing something, you develop a respect for what things actually cost and what it takes to maintain them.

Sure, some things aren’t worth fixing. But when your first instinct is always “replace,” you’re training yourself to solve money problems by spending more money.

3. They saved first, spent second

Here’s a wild concept that somehow became revolutionary: my parents put money into savings before they bought anything fun.

Not after they paid for everything they wanted. Not if there was money left over at the end of the month. First.

They treated savings like another bill – non-negotiable and due on payday. Ten percent went straight into a savings account before they even thought about what to do with the rest.

Compare that to today’s approach, which seems to be “save whatever’s left after living our best life.” Spoiler alert: there’s usually nothing left.

I’ve mentioned this before, but the psychology here is everything. When you save first, you force yourself to live on what’s remaining. When you save last, you’re trying to resist every spending temptation with willpower alone.

Financial experts often suggest you should aim to have about 10-12 times your yearly income saved by retirement to maintain your current lifestyle. That doesn’t happen by accident or by saving your spare change.

It happens by making saving the priority, not the afterthought.

4. They bought used cars without shame

Walk through any college parking lot today and you’ll see students driving cars that cost more than their parents’ first house payment.

Meanwhile, my parents drove used cars for decades and never thought twice about it.

I think, the 1980s generation understood something we seem to have forgotten: cars are transportation, not status symbols. Where I grew up, most people bought reliable used vehicles, drove them until the wheels fell off, and saved the difference.

But somewhere along the way, we started thinking that driving a nice car means you’re successful. Social media probably didn’t help with this one.

Here’s the reality check: nobody actually cares what you drive as much as you think they do. And the people who do judge you based on your car probably aren’t worth impressing anyway.

A reliable used car gets you to the same places as a brand new one.

5. They didn’t treat shopping as entertainment

What did people do for fun in the 1980s? They didn’t go to the mall to browse and “see what’s new.”

As my my mom told when I mentioned writing this post, “shopping was a task, not a hobby”. You went to the store when you needed something specific, bought it, and left. The idea of wandering around Target for two hours buying things you didn’t know you wanted would have seemed bizarre.

Now we have “retail therapy” and entire YouTube channels dedicated to hauls. We shop when we’re bored, sad, celebrating, or just because it’s Saturday.

In 2023, household spending on women’s apparel averaged $655, compared with $406 for men’s apparel. I wonder, how much of that was actual need versus entertainment?

The 80s generation understood that every purchase was a choice between having that thing and having money. Today, we’ve somehow convinced ourselves that buying stuff is self-care.

Don’t get me wrong – you should enjoy your money. But when shopping becomes your default activity when you have free time, you’re setting yourself up to always be broke.

Find cheaper ways to entertain yourself. Your bank account will thank you.

The bottom line

Look, I’m not suggesting we go back to using rotary phones and VHS players.

But there’s something to be said for the financial mindset that got people through the 80s without needing a finance influencer to explain compound interest.

These habits weren’t about deprivation – they were about understanding that money is a tool, not a solution to every problem. They knew the difference between what they needed and what they wanted, and they weren’t ashamed to choose the practical option.

The best part? None of these habits require special apps, investment knowledge, or a side hustle. They just require changing how you think about money.

Which of these resonates with you most? Maybe it’s time to channel a little 80s financial wisdom and see where it takes you.

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