Most people struggle to save money. There are so many urgent and important items that compete for every single dollar in our wallet.
The kids are constantly growing out of their clothes, something in the house is continually breaking down, and the car seems to have a ravenous appetite for money. These are all items that consume our money, but the largest competitor for savings in most people’s household is FOOD. In fact, when someone completes their first-ever budget, they begin to review their actual spending patterns and nearly always come to the same conclusion that they’ve been spending way to much on food. They summarize their discovery by stating something like:
“I’ve found out where my savings account is – I’ve been eating it!”
I discovered this truth when I did my first budget way back in July 2003! The realization is as stark today as it was then. I was literally eating my savings (and my future)!
There are many ways to reduce your food costs (and I would love for you to share your great ideas with us all in the comments!):
- Don’t go to the grocery store when you are hungry!
- Split a meal with someone else while at a restaurant.
- Use cash envelopes
- Shop the sales at the grocery store!
- Use coupons (but buy things you will really use!)
- Make dinners from scratch (healthier and brings family together!)
- Designate one week as a “We’re eating all our meals using stuff in the pantry this week!” (you will quite possibly have the most interesting meals you’ve ever had!)
Readers: What additional ideas would you share? Click HERE to share in the comments!