Let’s be honest—no matter what generation you belong to, money-saving tricks are basically a survival skill. Whether it’s your Boomer grandma rinsing out Ziploc bags to reuse them or a Gen Z influencer turning “no-spend challenges” into a TikTok trend, every generation has its own signature ways to stretch a dollar.
Some of these strategies make perfect sense. Others? Well, let’s just say they reflect the times they came from. So, let’s take a trip down frugality lane and see how Boomers, Gen X, Millennials, Gen Z, & Gen Alpha save money—and whether those tricks still work today.
Boomers (Born 1946-1964): Masters of Old-School Thrift
Boomers didn’t just learn to save money—they practically majored in frugality. Raised by parents who lived through the Great Depression, they grew up in a world where wasting anything was practically a crime. So, it’s no surprise that their money-saving habits are hardwired into their DNA. Here’s how Boomers mastered the art of stretching a buck:
1. If You Can’t Afford It, You Don’t Need It
Boomers have one golden rule: don’t spend money you don’t have. Credit cards? Debt? No, thank you. A lot of them prefer to pay for things in cash and avoid interest like it’s the plague.
While this strategy makes total sense (who wants debt, right?), it’s not as easy in today’s world, where credit scores control everything from renting an apartment to getting a decent car loan. Still, their “live within your means” mindset is something we could all use a little more of.
2. Coupons and Bulk Buying: The OG Life Hack
Before digital deals and cashback apps, Boomers had Sunday newspapers stuffed with coupons. And they took clipping seriously—some even had binders dedicated to organizing discounts.
And let’s talk about bulk buying. Costco, Sam’s Club, and warehouse stores? Boomers walked so Millennials and Gen Z could run. The logic is simple: why buy one roll of toilet paper when you can buy 36 and not think about it again for six months?
Today, paper coupons have taken a back seat to apps like Rakuten, Honey, and Ibotta, but the concept remains the same—never pay full price when you don’t have to.
3. DIY or Bust
Boomers are basically the human version of a YouTube tutorial. Need a fence? They’ll build it. Clothes ripped? They’ll sew it. Car making a weird noise? They’ll pop the hood and figure it out.
According to a 2023 survey by the National Association of Home Builders, over 70% of Boomers prefer to fix things themselves rather than hire someone. Meanwhile, younger generations are calling a handyman to change a lightbulb.
Sure, some of their DIY skills border on extreme (duct tape is not a permanent solution, Grandpa), but their ability to fix instead of replace is a money-saving skill worth holding onto.
4. Cash Is King
For Boomers, credit cards were for emergencies, not everyday spending. Many still follow the old-school belief that if you can’t afford it in cash, you shouldn’t buy it at all.
Of course, in today’s world, credit is basically a necessity (try renting an apartment without a credit history), but the Boomer mentality of avoiding debt like the flu is something to admire.
5. Leftovers Are Sacred
Boomers do not waste food. Ever. If there’s extra spaghetti, guess what’s for lunch tomorrow? If bread is about to go bad, guess who’s freezing it for later?
A 2022 study from the American Frozen Food Institute found that Boomers waste 50% less food than Millennials. They’re the original kings and queens of repurposing meals—leftover turkey becomes a sandwich, then soup, then… who knows?
Meanwhile, younger generations are out here ordering takeout because they “forgot they had food in the fridge.”
6. Homeownership = The Ultimate Investment
For Boomers, buying a house wasn’t just about having a place to live—it was a long-term investment. They saw real estate as a ticket to financial stability, and for many, it paid off big time.
While younger generations struggle to afford housing, Boomers bought in when prices were lower, and many have built serious wealth just by staying put.
What We Can Learn from Boomers
Say what you want about saving aluminum foil and rinsing out Ziploc bags, but Boomers know how to make a dollar last. Their money habits might seem extreme at times, but there’s a lot to take away from their approach:
- Debt is not your friend—spend only what you can afford.
- A little effort saves big money—DIY what you can.
- Food is expensive—don’t waste it.
- Never pay full price. Ever.
Boomers didn’t just save money—they made it an art form. And honestly? They might be onto something.
Gen X (Born 1965-1980): The Silent Budgeters
Gen X is the middle child of generations—not as nostalgic as Boomers, not as tech-obsessed as Millennials. They didn’t have the economic boom of their parents or the financial chaos of younger generations. Instead, they became experts at walking the tightrope between saving, spending, and just trying to stay afloat.
Here’s how Gen X keeps their wallets in check while dealing with mortgages, college funds, and the occasional midlife crisis purchase.
1. Juggling Debt While Saving for the Future
Gen Xers have a lot on their plate—mortgages, car payments, student loans, and credit cards, all while trying to build a retirement fund before it’s too late.
Many of them hustle hard to pay off debt while also squirreling money away in 401(k) plans. They know time flies, and retirement isn’t as far away as it used to be. Unlike Millennials drowning in student loans or Boomers chilling with paid-off houses, Gen X is constantly playing financial Tetris to keep everything balanced.
2. Side Hustles Before They Were Cool
Before “side hustle culture” became a TikTok trend, Gen X was already grinding. Babysitting, selling stuff at garage sales, tutoring, or taking on odd jobs—they did whatever it took to make extra cash.
Today, gig economy jobs like Uber, Etsy shops, and freelance gigs have made side hustles more mainstream, but Gen X has always believed in having a backup plan. A Bankrate survey even found that 40% of Gen Xers have a side gig, proving that having multiple income streams is nothing new for them.
3. Hand-Me-Downs? Yes, Please.
Gen X grew up in a world where thrift stores were just part of life, not a hipster trend. If their older sibling outgrew something, guess who got it next? Yep.
And this habit stuck—Gen X is still a big fan of buying secondhand, hunting for deals, and making the most of what they have. According to a 2023 report by ThredUp, Gen X contributes the most to the $36 billion secondhand fashion industry. So yeah, they were thrifting before it was cool.
4. Loyalty Programs? They’re In It for the Long Haul
Gen X knows how to work the system when it comes to credit card rewards, airline miles, and grocery store points.
They’re the ones stockpiling points for a free vacation or getting cashback on things they were going to buy anyway. A NerdWallet survey found that 60% of Gen Xers actively use credit card rewards to cut costs—basically, they know how to stretch every dollar just a little further.
5. Education = The Ultimate Investment
Gen X didn’t grow up in a world where college cost a small fortune, but they still saw education as a ticket to a better life. They’re also the generation that took on debt to go back to school later in life or invested heavily in their kids’ education.
For them, spending on learning is a smart financial move, whether it’s for their own career growth or setting their kids up for success.
What We Can Learn from Gen X
Gen X might not be as flashy about their money-saving strategies as other generations, but they know how to play the long game. Here’s what we can take away from their approach:
- Balance is key. Pay down debt, but don’t forget to save.
- A side hustle never hurts. Extra income can be a game-changer.
- Secondhand doesn’t mean second-best. Thrifting saves money and is good for the planet.
- Use rewards programs wisely. Every little bit adds up.
- Education pays off. Knowledge is an investment, not just an expense.
Gen X might not always get the spotlight, but when it comes to money smarts, they quietly dominate.
Millennials (Born 1981-1996): The Budget-Conscious Hustlers
Millennials had the worst financial welcome party ever—they hit adulthood right as the 2008 financial crisis punched the economy in the face. Jobs were scarce, wages were low, and student loans? Oh, they were sky-high. As a result, Millennials became obsessed with budgeting, saving, and making their money stretch as far as possible.
Here’s how they became the tech-savvy money managers of today.
1. There’s an App for That (Literally Everything)
Boomers had checkbooks, Millennials have budgeting apps. Whether it’s Mint, YNAB (You Need a Budget), or Goodbudget, they use tech to track every dollar.
A study by The Financial Brand found that 72% of Millennials use budgeting apps regularly. If there’s an app that helps them save money, cut costs, or get cashback, you better believe they have it downloaded.
They’re the generation that hates financial surprises—because when you’ve lived through an economic meltdown, you learn real quick that every dollar needs a job.
2. Subscription Overload? Unsubscribe Button = Best Friend
Millennials were the first to ditch cable for streaming, and now they’re the first to say “nope” when those streaming costs get out of hand.
At first, it was great—cut cable, save money, win-win. But then came Netflix, Hulu, Disney+, HBO Max, Peacock, Prime Video… and suddenly, their “cheap alternative” was just as expensive as cable.
A 2023 Deloitte report found that 44% of Millennials canceled a subscription in the past year to save money. Turns out, those “just $9.99 a month” fees add up fast—and Millennials are not here for it.
3. Experiences > Stuff
For Millennials, memories matter more than material things. Instead of splurging on designer handbags or expensive furniture, they prioritize travel, concerts, and bucket-list adventures.
Of course, they’re still cost-conscious about it—you’ll find them hunting for flight deals, using travel rewards, and scoring discount codes to make their experiences as affordable as possible.
At the end of the day, Millennials may not own as many physical assets, but they’ve got stories to tell, passports full of stamps, and concert tickets pinned to their walls.
What We Can Learn from Millennials
They’ve had to be creative with their finances, and honestly? There’s a lot to take away from their approach:
- Technology is your friend. Track your money, automate your savings, and let apps do the heavy lifting.
- Subscriptions aren’t always worth it. If you’re paying for 10 services and using two, it’s time to trim the fat.
- Experiences over clutter. Stuff fades, but memories stick with you.
Millennials may have started adulthood on hard mode, but their budgeting skills are next-level.
Gen Z (Born 1997-2012): The Digital Money Hackers
Gen Z grew up with Google, TikTok, and YouTube at their fingertips, meaning they’ve had instant access to financial advice from day one. Unlike older generations who had to figure things out the hard way, Gen Z is out here learning about credit scores, investing, and side hustles before they even get their first paycheck.
Here’s how they’re turning financial smarts into a lifestyle.
1. Retirement? Yeah, They’re Already on It.
Most people don’t start thinking about retirement until they see a gray hair or two, but Gen Z is getting a head start.
A Charles Schwab survey found that 60% of Gen Z investors started saving for retirement before turning 21—compared to just 31% of Millennials. They understand compound interest (probably thanks to a viral TikTok explaining it with a coffee analogy) and know that starting early means working less later.
While Boomers were just hoping for a pension and Millennials were drowning in student loans, Gen Z is actively building wealth before they’ve even graduated.
2. Turning Saving Money into a Social Trend
Gen Z took frugality and made it cool. No-spend challenges, extreme budget hacks, and thrift hauls? It’s all over TikTok.
They’ve turned saving money into a game—who can go the longest without spending? Who can flip a thrift store find for a profit? Who can meal-prep an entire week for under $20? Frugality is a flex.
Unlike Millennials, who were the original deal hunters, Gen Z is publicly documenting their savings wins, inspiring others to jump on the bandwagon.
3. Why Buy New When You Can Buy Secondhand?
Gen Z isn’t just saving money—they’re also about sustainability. Fast fashion? No thanks. Overpriced furniture? Pass.
According to OfferUp, 81% of Gen Z bought secondhand in the past year, making them the biggest supporters of the resale market. Whether it’s clothes, electronics, or furniture, they’d rather thrift than drop big bucks on something brand new.
And with apps like Depop, Poshmark, and Facebook Marketplace, they’re not just buying secondhand—they’re reselling for profit, too.
What We Can Learn from Gen Z
This generation isn’t just saving money—they’re making it a lifestyle. Here’s what we can take from their approach:
- Start investing early. The earlier you start, the more your money grows.
- Make saving fun. Turn it into a challenge, track your progress, and celebrate small wins.
- Thrift first, buy new later. You can save big and be eco-friendly at the same time.
Gen Z is proving that financial literacy isn’t just for finance bros—it’s for everyone.
Generation Alpha: The Future Money Gurus
They might still be playing with LEGOs and watching YouTube Kids, but make no mistake—Generation Alpha is already gearing up to be the smartest money managers yet.
Growing up in a world of cashless payments, AI, and digital everything, these kids won’t just carry on old-school money habits—they’ll completely reinvent how we think about saving and spending.
Here’s how Gen Alpha is shaping the future of money before they even have a driver’s license.
1. Wait… What’s Cash?
Remember the thrill of finding a $20 bill in your pocket? Yeah, Gen Alpha probably won’t experience that. Physical cash is quickly becoming a relic of the past—these kids are growing up with Venmo, Apple Pay, and tap-to-pay cards instead of piggy banks full of coins.
By the time they’re teenagers, carrying cash might seem as outdated as a landline phone.
2. AI is Their Personal Finance Coach
Unlike Millennials, who had to learn budgeting the hard way, or Gen Z, who got their money tips from TikTok, Gen Alpha will have AI-powered money assistants doing the heavy lifting for them.
Think budgeting apps on steroids—AI tools that automatically track spending, set savings goals, and even give smart financial advice in real time. No more “oops, I forgot to check my balance” moments—AI will handle it.
3. Crypto & Digital Assets Are Their Normal
For Boomers, investing meant stocks and real estate. For Millennials and Gen Z, crypto was an experiment. But for Gen Alpha? Digital assets might just be part of everyday life.
NFTs, blockchain, decentralized finance—this generation won’t just dip their toes in, they’ll grow up swimming in it. By the time they’re adults, crypto might be as mainstream as credit cards.
4. Learning About Money Before They Can Even Drive
Thanks to digital learning, Gen Alpha is getting financial education way earlier than previous generations.
While Millennials learned budgeting through trial and error (mostly error) and Gen Z got their tips from social media, Gen Alpha is being taught how to save, invest, and budget as early as elementary school.
And with apps like GoHenry and Greenlight, kids as young as seven or eight are getting their own debit cards, setting savings goals, and tracking their spending—long before they ever get a real job.
5. Independence Starts Young
Gen Alpha isn’t waiting until they’re adults to learn about money—they’re already handling their own budgets before hitting high school.
With parents who lived through financial struggles, inflation, and economic uncertainty, these kids are being raised to think about money differently. Expect them to become financially independent earlier and possibly even start businesses before they finish school.
What We Can Learn from Gen Alpha
They’re young, but they’re already shaping the future of personal finance. Here’s what the rest of us can take away:
- Cash is dying—get comfortable with digital money.
- AI is going to make managing finances easier than ever.
- Crypto and digital assets are sticking around—better learn about them now.
- Teaching kids about money early sets them up for success.
Gen Alpha might still be figuring out long division, but they’re already light-years ahead in money management—and the rest of us? We better keep up.
The Future of Money-Saving: What’s Here to Stay?
Everybody saves money in their own way. Boomers reuse everything and hate wasting food. Gen X loves rewards points and side gigs. Millennials track every dollar with apps and cancel subscriptions when they get too expensive. Gen Z turns saving into a challenge and thrifts like a pro. And Gen Alpha? They’ll probably let AI handle their budget while they buy crypto.
At the end of the day, we’re all just trying not to be broke. So what’s your money-saving trick? Do you stretch leftovers like your grandma, check your bank app 10 times a day, or hunt for the best thrift store deals? Let’s hear it!