Financial Lessons From the Amish

August 27, 2013

One of my favorite things about summer is fresh corn so I’m fortunate to have an Amish neighbor who runs Briar Hollow Farm Market, where I can buy it within walking distance from my house. When I first met the Stoltzfus family, I was amazed at their simple way of living. We can learn a lot from the Amish way of life though.

So who are the Amish? Don’t let the show Amish Mafia mislead you. Based on their religious beliefs, they shun modern technology and conveniences. Transportation for the Amish is by horse and buggy. They do not have electricity or telephones in their homes. The men usually wear beards and hand-sewn pants with buttons instead of zippers. The women wear white head coverings and plain dresses, usually without buttons—they  actually use straight pins to fasten their clothing.  The Amish choose to keep the simple life so they can focus more time on family and home, rather than the things that require advanced modern technology.

My $3 corn purchase, along with baked goods and brown eggs, add to the financial security of my neighbors, who do quite well living off the proceeds of their pesticide-free farm. Amish success at managing money is rooted in things we can all put into practice, like simple living and resourcefulness. Here are some Amish money “secrets” you may be able to apply to your life:

• “Don’t pay for a dead horse. The Amish and credit are like oil and water. One Amish Bishop summed up Amish aversion to credit this way: ‘Buy now, pay later doesn’t really work. Making interest payments is like paying for a dead horse.’”   
• “Use it up, wear it out, make do, or do without. One way the Amish avoid debt is by making the most of what they already have. In a country where just about everything seems to be disposable, the Amish milk every last drop of usefulness out of their possessions. It really is a different world, one of darned socks, patched pants, and mended fences.”
• “Plain is better than fancy. The Amish are not concerned with keeping up appearances and see pursuit of happiness through spending as frivolous and vain. But when an Amish person does need to buy something, plain will beat fancy every time.”
• “You can’t buy love. The Amish love their children dearly, but believe that the more children have, the more they will want. So they try to teach their children to be content with what they already have.”
• “Plant a vegetable garden. The Amish have a passion for food and nearly all Amish homes have a sizable garden. What’s not eaten right away might be pickled, canned, or made into preserves so the family can enjoy the garden’s bounty all year long.”
• “Fun for less. The idea that you need to spend a lot to enjoy life is an idea lost on the Amish. In their leisure time, the Amish play games with family or engage in activities like volleyball, hiking, and badminton.”

If you ever find yourself traveling near Lancaster or Chester County, PA make sure to stop at an Amish market. You can enjoy the delicious baked goods and fresh produce while helping to keep the Amish culture alive. You might even learn something too.