Meals is one particular of our most significant household expenditures, so how to do you reduce your spending? It was a query posed on my News Corp Gen Y column these days, and this was my response:
When it comes to household expenditures, meals, accommodation and transport are the 3 massive-ticket expenses for most households. But while we whinge like anything about the soaring price of accommodation, and monitor the price tag of petrol on a day-to-day basis, we shovel hundreds of dollars worth of meals into our mouth every single month with tiny complaint.
How many hundreds? Calculations accomplished by MoneySmart estimated that in 2012 single Gen Y’s spent an average of $ 104 per week on food and drink (not such as alcohol). Young couples spent roughly double that once you have kids the amount skyrockets. By the time you have 2 youngsters at main school, you are spending almost $ 300 per week – or about $ 15,000 per year. Oh, and IBISWorld estimates that over the subsequent twelve months we will collectively devote $ 603 million on weight-loss counselling solutions and associated low-calorie foods and dietary supplements.
Personally I can consider of significantly much better ways to invest at least $ 5,000 of the above and right here are plenty of easy methods to cut costs. The largest tip is to purchase only what you need (we throw away a lot of food each year). Have a weekly menu and a corresponding buying list and if it’s not on the list, don’t get it. If you can, give Aldi a attempt and also spend attention to unit pricing (the cost per 100 grams or 100 millilitres). Sensible packaging can simply disguise poor worth!
If you want to get really critical, acquire a book called “The $ 21 challenge” from simplesavings.com.au. It’s like a bootcamp session for your food budget – or perhaps like a detox for your pantry. Either way, you could finish up with some handy further money for Christmas.
How can you cut your supermarket spending?
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