Times Have Changed

Did you know our credit union was founded in 1954? CVCU began as a group of people just trying to help each other afford life. Fortunately, our mission has not changed. We are still here to help people in our hometown live better financial lives, just like we were back in 1954. But, I'm sure you can imagine how much things have changed in the world around us since then. A lot.

Prices have changed a whole lot. First, guess what the average person was bringing home in income?

$3,960 per year.

The average person would have paid about $10,000 for their home, $2,000 for their car, and about 21 cents a gallon for gas.

Now, on to the fun part. Going to the grocery store in 1954:

  • Milk = $.92
  • American cheese (1lb) = $.55
  • Post Grape Nuts cereal (10 oz. package) = $.19
  • Bread = $.17
  • T-bone steak (1lb) = $.95

Those are just a few highlights, but it got me thinking about how much I pay at the grocery store now. I would LOVE to be paying those prices from 1954!

Since we can't find milk for $.92 anymore, here are some tips to save a little money when you do your shopping:

  • Make a list (and stick to it).
  • Consider using grocery pickup services - it is much easier to stick to your list when you don't ever set foot inside the store!
  • Set a dollar limit (and stick to it)
  • Avoid buying nonfood items like batteries, medicine, and cleaning products at the supermarket. Use a discount store for these items.
  • Plan your weekly meals before grocery shopping. Base your meals around specials and coupons to save money.
  • Don't grocery shop on an empty stomach. You could end up buying more than you need.
  • Avoid buying prepared and packaged goods. For example, Consumer Reports found that two pounds of carrots cost $1.79, compared with $7.16 for the same amount of pre-cut carrot sticks.
  • About two-thirds of grocery store purchases are unplanned. Shop less often and remember to stick to your list!

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