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Interview people from several generations (depression era, baby boomer era, the sixties/seventies, etc.) about different methods they have used to track their income and expenses and organize their finances. Ask how they budget their money and what they have done to reduce expenses and make ends meet. Write a summary of your interviews.I interviewed my Grandma who lived during the depression era. She was born in 1929. She, her parents, and her younger brother moved all over the California area between 1931 to 1942. Her father went from job to job during the depression and the beginning of WWII. To reduce expenses and make ends meet, they often shared small homes or apartments with other families. Her father would also find extra work on nearby farms and they would live off the produce he brought home. Her parents also saved for years to buy a used car. They were finally able to attend an LDS Ward in California because they had transportation to get there. After moving back to Utah in 1942, my grandma would work in the fields during the summer so she had enough money to buy store bought clothes for school in the fall.I also interviewed my parents. They call themselves “moderate consumers”. They don’t use any programs to track their earnings and expenses, but they do check their accounts online on a weekly basis. Some of the ways they have reduced expenses is by shopping around for the best price, only buying cars used, paying off their few credit cards each month so they don’t have to pay interest, making more than the monthly payment on their home so they could pay it off early, and putting money into my dad’s flexible spending account through work to help pay medical expenses. Their credit card has a limit of $2500.00 so they never have high debt. My dad has been laid off from two past jobs because of the economy. They have cut back during those times on expenses to make up for the employment loss. They have made sure that they have at least 6 months income in savings to prepare them for any future employment issues. I interviewed my Aunt who is in her 50’s and she is a single mom. She says that she makes ends meet by following the philosophy of “make do or do without”. She has a 401k plan through work to plan for retirement and she has cut expenses by finding less expensive internet and cell phone rates, canceling her phone land line, making her own meals at home and eating lunch in at works, and buying an older used car so her payments would be less. This year she is going to try the “cash only” method of paying for expenses that is recommended by Dave Ramsey. ................
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