The eye-opening cost of living in 1951

✯ Day 116 of Vintage 365 ✯

 

There is absolutely no denying - especially in the stern face of the recession that so much of the world has truly struggled through in recent years - that the cost of living has skyrocketed. I do not profess to be an expert on world economics by any means, and this post isn't meant to delve into the plethora of reasons why (nearly) everything has gone up (often significantly) in price lately. It is intended more as a look at what certain items cost in 1951 mixed with a few thoughts on the economy both then and now.

According The People History, a website with interesting stats and fun facts about the last several decades, in 1951 - just sixty years ago - the following prices were what the average American family would have paid for certain commonplace items (as well as the average wage).

 

Cost of living in 1951

Average wages per year $3,510.00

Average Cost of new house $9.000.00

Average Cost of a new car $1,500.00

Cost of a gallon of Gas 19 cents

Loaf of Bread 16 cents

Pound of Hamburger Meat 50 cents

Bacon per LB 52 cents

Eggs per dozen 24 cents

Water Jacket Heater ( Asbestos ) $4.59

Baby Diapers ( Cotton ) From $2.79

Children's Tricycle From $14.00

{Vintage suburban house image via wackystuff on Flickr.}

 

Though The People History site does not state where they sourced those numbers from, I would venture to say that these prices are a fair representation of what the above listed items really did cost in 1951.

At the time, my maternal grandma was twenty one, the same age my younger sister will turn later this year. It's staggering to think that someone of my grandma's generation could have purchased a house for "just" $9,000.00 (assuming the Canadian prices on housing in '51 were akin to those in the States).

Today, most small "starter homes" in large towns and cities across Canada will run you at least $200,000 (though in many areas, it's getting harder and harder to find even quasi-decent homes below the $300,000 mark).

Though some things have progressed at a somewhat "normal" rate of inflation (bread, eggs, ground beef, etc), others have clearly multiplied exceedingly and at rate the is no where on par with what people are, on average, earning these days.

In the post-war forties and fifties there was a burgeoning, successful middle class that sprang to life in a new and powerful way across North America. Things like car and home ownership, saving money, living within your means, and being able to provide your children with a good life (including a college education) were not pipe dreams, they were considered the American dream and they were there for nearly everyone to avail of, so long as they worked hard and were financially responsible.

Sixty years on the world is a very different place. The starry-eyed optimism of the fifties has been replaced by the grime reality of a world in economic crisis and a diminishing middle class (for an example of stats backing that statement up, see this article by Wayne Isaksen).

However the purpose of this post isn't too wallow in sorrow over the state of the economy right now. Only time will tell for sure how - and if - we will be able to rebound to pre-recession levels and if wages will ever be able to increase enough to afford the middle class the ability to restock its ranks once more. Instead it is to look back informatively at what things would have cost for our parents and/or grandparents sixty years ago.

I love the 1950s, they are without a doubt my favourite decade of all time. I find it fascinating to learn about the prices of everyday objects at the beginning of one of the most influential and impactful decades in recent history. A time when the world was far from perfect, yet still considerably more affordable. When one could pop down to the dealership and take home a new car for $1,500 or give little Timmy or Sally a tricycle for just $14.00.

In these prices I feel a common sense of nostalgia for an era, a way of life, and an economy that I never actually lived - but which I feel is worth remembering and learning about every chance I can get. Which is why, six decades on from when these prices rang true, I wanted to share this little table of costs with all of you, knowing as I do how much history means to you, as well.

Now the real question worth pondering becomes, what on earth will these items run us in another sixty years? None of us can know for sure, but I certainly hope – for the sake of our grandchildren -that starter housing prices won't be in the millions!

Doing your banking in vintage style

There is, in no uncertain terms, nothing glamorous about the current economic crisis that much of the world is in at the moment. As this crippling recession continue to dig its claws into society, it’s becoming harder and harder to avoid being affected by its merciless wrath. However, matter how much you wish to avoid thinking about this grim situation, there is little getting around the fact that on a smaller scale each of us still needs to tend to daily or weekly banking and financial matters.

In these modern days of online banking, ATMS on more street corners than Starbucks, and handy-dandy debit cards, it can be easy to forgot that just a few decades ago none of this instant financial technology existed. It would seem akin to something from The Jetsons for a person who lived in the fifties to imagine having an bank account that’s accessible from a computer and from which they can pay for goods at an online auction. In the past most people made frequent trips to the bank, dealt mainly with cash or cheques ("checks" to my lovely US readers), and in place of plastic credit cards may have had a charge card or charge account with a local merchant or department store.

Since the advent of bank statements delivered via the mail (and email), online banking and the use of “statement” books that are updated when you present them to a teller at your bank, a lot less people have a need to actually balance their cheque books each month, but that doesn’t mean cheques aren’t still used, people don’t head to the bank in person, or cash isn’t used (not yet at least!).

While the world’s economic state may be far from beautiful right now, I definitely think that on a personal level we can all do things to make the daily task (or chore, depending on how you view it) of banking more fun, thanks to vintage items geared towards money management. The following are a selection of such pieces, each of which would have me opening my wallet today in the hopes of saving more money in the long run :)


{Part rockabilly, part retro bombshell, this charming little tattooed leopard print clutch style purse – which is retailing on Amazon for $19.99S – can easily serve as a stylish and sexy wallet.}



{To me there is something so wonderfully old fashion about the act of opening and closing a metal top coin purse. Doing so seems to invoke visions of grandmas handing coins to their grandkids to go buy sweets with, or a housewife counting out coins to pay the newspaper boy on collection day. Sporting a lovely cream, pink and green rose pattern, this sweet little coin purse – which is available for $15US – from etsy seller Lace House would be exactly the kind of coin holder I’d pick up if I was in the market for one.}



{Tired of hauling around important financial paperwork to the tax or accountant’s office in plain folders or cardboard boxes? Instead add an instant hit of class and beauty to your wardrobe and paperwork with this handcrafted satchel style briefcase from etsy seller Cambridge Satchel. At 15 inches wide and 10 inches high this classically stylish leather bag – which sells for $110US – could easily accommodate a small to medium sized laptop or many pages of paperwork.}



{While they might not be as commonplace in your everyday life as they once were (when was the last time you used one to pay for something in a store?), cheques are definitely still in use. Why not make the job of signing over your hard earned money a little more fun with this darling 1950s inspired pink cheque book cover from etsy artist BreeLeeD? It’s currently on sale in her shop for $7.50US.}



{No reason your cheque book cover should be the only awesome vintage inspired piece in your bill paying arsenal! Wouldn't it be fun to send out personal cheques with the eternally beautiful Marilyn Monroe herself on them? A box of 150 single cheques sells for $17.95US, and should you like, a coordinating leather cheque book cover featuring Marilyn can be purchased for $19.95US.}



{Channel your inner Joan Holloway as you write out cheques or sign documents at the bank while looking fashionably beautiful in a classic, secretarial style gold toned pen necklace – all for a mere $20US! How’s that for a budget-friendly deal?}



{For the past few months my husband and I have been really serious about tracking every penny that comes in or goes out. At home we use an online program to track our expenses, but while on the go I like to record my purchases in a handy little notebook so that I can be certain not to forgot about them later on. At 4.5x6 inches this pretty pin-up bedecked, 80 ruled page notebook from etsy crafter Timeless Totes would easily slip into a medium or large purse or over-sized clutch, and can be yours for $7.00US.}



{Standing in long lines at banks really calls for sensible, comfortable shoes. So leave those mile-high stilettos at home and opt for something timelessly lovely like this pair of beige leather pumps from the 1950s, which etsy seller RevampVintage describes as being ten inches long at the insole. At the bargain price of $16.99US, it’s probably a good thing these pretty shoes aren’t in my size, I’d be very tempted to get them if they were!}


{Tuck your pocket change and loose coins away for a rainy day in a vintage bank such as this absolutely adorable pink, blue and yellow pipe smoking piggy, which is available for $20.00US from etsy seller ebielli.}


While I can’t guarantee that rocking any of these wonderful vintage pieces will help you to save more or become even better at managing your money, they’re definitely the type of playful, gorgeous pieces I’d bank on style-wise any day!