Did you know the Amish are actually incredible money savers? We can all learn a thing or two (or thirteen) on how they manage their money and their frugal ways. I'd like to think I practice some of their savvy ways. Here's an except from Business Insider. Read the complete article here.
Though they're typically known for for their traditional, family-based Christian values and austere lifestyles, there's one thing most people probably wouldn't guess about them - the Amish are a lot better at managing their money than the rest of us.
Their business and financial savvy goes far beyond rebuking modern conveniences like electricity and technology. Here are 13 ways the Amish are better at money matters than most of us.
1. They value experiences more than material goods.
2. They are huge savers, often setting aside up to 20% of their income.
3. They loathe debt and try to avoid credit cards.
4. Rather than turn to credit, they'd sooner take up a side job when money gets tight.
5. If they do have debt, or take out a loan, they view it as a moral obligation to pay it back in a timely way.
6. Many are experienced tradesmen and their quality wares are in demand.
7. They are extremely savvy small business owners with a 95% success rate.
8. They rarely waste a thing and take recycling to unbelievable levels.
9. They buy in bulk whenever possible.
10. They never pay retail and often shop secondhand.
11. Those with money funnel their funds back into the community.
12. They eat like kings, but they grow most of their meals themselves.
13. They avoid taking government handouts and are exempt from contributing to Social Security.