There are a number of ways on how to save money on food – tips like not shopping without a list, cut back on eating out, have frozen vegetables or cook your own budget meals.
Here are my 8 tips to help you manage your eating budget at home.
1.Track Spending for a Week
If you have a goal of budgeting, then by tracking every dime you spend for a short period of time will be eye-opening. It will show you how spending even small amounts of money adds up over time. It will also reveal areas of spending that otherwise go unnoticed. Ideally one should track their spending for a full month, but even tracking for a week can provide valuable information about your spending patterns.
Popularized by Senator Elizabeth Warren in her book, All Your Worth, this approach to budgeting benefits from simplicity. With this plan, 50% of income goes to necessities, 20% to long term savings, and 30% to lifestyle choices. This plan can be a good starting point for those struggling to decide just how much they should spend on individual budget categories.
Remember that the goal of budgeting is to spend less than we make (i.e., to save money). One of best ways to do this is to save first. Rather than saving what is left over at the end of the month, save first and spend the rest. By getting money out of your checking account and into savings first, we are less likely to spend our savings during the month.
4.Create Your Own Recipes
There’s a plethora of amazing, free information out there. There is a great blog that has helped me – The Skint Foddie. Tony posts on eating well for less.
Ten years ago, Tony worked in corporate communications. Now in his 40s, there is still much of that confident, funny, articulate man in him. Back then, he earned £130,000 a year and ate out at some of London’s best restaurants at least twice a week. He now has over 200 plus recipes that can help anybody on how to save money on food.
Plan ahead of time once a month or once a week the meals you are going to have and this way you’ll know how much you have to buy. It’ll save you from buying 5 pounds of cheese if you know you’ll only need 2. See Post Eating Budget Tips – 9 Ideas for further reading.
Having frozen vegetables (without sauces or butter) like broccoli, string beans, and carrots are an easy way to quickly steam for a quick and simple weeknight side. This is much cheaper than buying fresh and the rich nutrients are still preserved during the freezing process.
7.Lists, Lists and More Lists
This one of the best eating budget tips I can suggest to you. Have a list for your grocery shopping, have another list for your weekly meal plans and finally have a list for your snacks. I can not empathise how important this is and this one thing alone can help you take control on your eating budget. Please stick to the lists!!
Go to the farmers market when possible and most of the fruits and veggies will be half the price. Look and visit a farmers market near you.
Take action and implement atleast one idea from the above and see the results for yourself in a months time. This is how to save money on food.
Please remember, you don’t have to give up your healthy way of life to save money — you just have to be a little more strategic.