Scrolling through social media feeds, I often feel like I inhabit a completely different universe from many of my peers, especially those much younger. There’s no question we live in an era of sharply divided perspectives and worldviews. Modern technology makes it easier than ever to broadcast our individual viewpoints—and even simpler to tune out everyone else’s.
Millennials (ages 18 to 35) are highly skilled at navigating the social media landscape. Yet while they’re busy sharing their own opinions, they frequently overlook the hard-won insights of earlier generations. Tom Brokaw’s book The Greatest Generation profiles those born during the Great Depression, who fought in World War II, and later helped build one of history’s most prosperous periods. That generation had already figured out straightforward answers to challenges that seem to baffle today’s younger leaders.
Consider Laura, a 23-year-old recent college graduate. She grew up surrounded by technology and information. To her, the internet is as essential as water or electricity; she owns a smartphone, a smart TV, a laptop, and a tablet. Her car can sync with everything short of washing dishes. Her life has been documented on Facebook, Instagram, and YouTube since middle school. She has hundreds of “friends” across these platforms—none of whom show up for lunch or a girls’ night out, and all of whom appear to lead flawless lives. Saddled with student debt (the national average is $30,000) and credit cards, her net worth inches upward very slowly.
In contrast, Ann was born in 1932. She has all the basic utilities she needs: electricity, water, and gas. Her phone is plugged into the wall with a curly cord; it never runs out of battery, and her number hasn’t changed in 43 years. Ann’s television has two rabbit-ear antennae and a small converter box the government provided a few years ago for the digital transition. She happily watches the three major networks she gets for free, following their broadcast schedule. She doesn’t search the internet and can read a paper map, so she sees no need for car navigation. And she doesn’t want a cell phone bothering her while shopping for groceries. Her careful spending and frugal habits have allowed her to enjoy her later years—not wealthy, but comfortably enough to sustain her lifestyle.
The gap in lifestyle and finances between these two generations might seem enormous, but the Greatest Generation can offer Millennials something that decades of experience have taught them: practical advice for surviving today’s economic and political climate and weathering future hardships.
Self-Sufficiency Skills: A Lost Art
They came from an era when cash was scarce but time and skill could compensate. Gardening allowed families with little money to eat well. Sewing extended the life of clothing or gave it new purpose—and even now, basic sewing supplies are a very thrifty purchase. Home entertainment meant card games and board games. They also handled many of their own repairs.
Millennials grew up surrounded by big-box chain stores, disposable products, and fast food. A night out (dinner and a movie) can easily cost $100 or more per couple. Most games they play require technology with an associated price tag. And there’s still a strong urge to acquire more. But imagine a world where Millennials set down their smartphones, spent time gardening, cooked fresh homemade meals, and played Gin Rummy with actual cards.
TIP – Curious about what people ate during the Great Depression of the 1930s? Discover the most popular meals from that era here!
The Value of Saving Money
Having watched their own parents struggle through the Great Depression, the Greatest Generation deeply understood the importance of money in the bank. They were willing to work hard and make sacrifices today to protect themselves from future hardship. Their self-sufficiency helped them live within their means as finances improved, and they used any extra money to save and prepare for retirement.
Baby Boomers and Gen X appear to have lost some of those lessons. Many rely on Social Security or a pension for their later years but have very little in savings or investments. However, there’s a bright spot: according to a 2014 survey by Hearts & Wallets (a retirement market research firm), 52% of Millennials have made building an emergency fund their top priority. Even while drowning in student loans, they recognize the value of having cash on hand for unexpected expenses. Hopefully, as student loans are paid off and finances improve, this generation will start saving for retirement. After all, with an average life expectancy nearing 80, retirement funds now need to last 15 to 20 years.
TIP – A frugal lifestyle isn’t just for older generations or preppers—it’s for everyone. Everyone should care about financial security and live within their means. Here are a few guiding rules to help you embrace a more frugal life.
A Less Mobile, More Connected Society
Third, the Greatest Generation was far less mobile. They valued family, built neighborhoods, and established deep roots in their communities. Their friends lived just a sidewalk away, and extended family was often around the corner. They did business with the same stores and companies for decades, and their personal banker knew them by name. They looked out for one another and helped each other out, as friends who have known you for years and years will do.
Today, we rely on calls, texts, emails, and Skype to stay in touch with loved ones. We move across the country—or even the world—in pursuit of careers. Companies have fewer satellite offices and larger central headquarters, so we spread out globally. It’s increasingly rare to know your neighbor’s name. And while technology connects us to those we care about, something is lost when we don’t have real face-to-face contact. The people who would have formed a support network in the past are now too far away to help with things like childcare.
While many of the Greatest Generation relied on help for grocery shopping and running errands, today we have a large force of working parents. A recent Pew Research study revealed that 41% of children are born to unmarried parents. With more children being raised by single parents than ever before, there could be real practical value in having a strong, personal, and geographically close support network built into the community.
TIP – In an age when nearly everyone carries a cell phone, we assume we’ll always be able to make a call. But there are many reasons family members might not be able to reach each other by phone or otherwise after a disaster. Learn how to create a designated communication hub.
The Importance of Reputation
Even in their youth, the Greatest Generation understood that your word was your bond and a handshake carried weight. Because they lived in tight-knit communities, they knew they couldn’t behave in ways that would fuel gossip. And while teenagers of yesteryear certainly did foolish things, they at least tried to keep those actions somewhat private. Loans were granted based on reputation as much as credit reports, and merchants would let you buy on account.
Millennials, on the other hand, constantly experiment with their reputations through social media. Since Facebook launched in 2004, they’ve spent over a decade posting photos of every funny, sentimental, and embarrassing moment of their lives. They’ve blogged and video-blogged their private thoughts for the entire world to see. The more gossip-worthy their tweets and posts, the more popular they felt. The saying “there’s no such thing as bad publicity” seems to have resonated strongly with this generation. But now they’re maturing.
The oldest Millennials are nearing 40. They now live in a world where their college foolishness is searchable online and beyond their control. Children are finding evidence of their parents’ mistakes. Companies are starting to scan historical social media records when making hiring decisions. And suddenly, Millennials are learning what their grandparents always knew: reputation matters, and a bad reputation can hurt you far more than a good one can help.
It’s often said that those who don’t understand history are doomed to repeat it. Many of the challenges we think are unique to the modern era are actually old problems in new packaging. We can learn a great deal by seeing how a generation born and raised after Prohibition, after the stock market crash, and after the settling of the West overcame the pitfalls of short-sighted decisions. Perhaps Millennials—or their children—will become the next Greatest Generation.
Guest contribution by Kelley G.
thesurvivalmom.com
