Life can get expensive. When considering food costs, medications, housing, and transportation, things simply add up. Finances for many can be very stressful and often a determining factor in how you manage your health. Learning how to manage your budget can help ensure you have enough funds to cover all the things you need, like food.
There is a popular stigma out there that eating healthy is expensive. Let’s debunk this stigma, and talk more today about how you can budget specifically for food savings.
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To start, set a budget. According to Dave Ramsey, a well-published financial advisor, one should allot or budget 10-15% of their income towards food. For example, if your monthly income is $2000, your food budget would be $200-$300/month.
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Use an app or notebook to track all your expenses.
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Monitor your spending. Look at credit card statements each month to see how much you are spending on food (both in the home and dining out) in comparison to the budget you have allotted. See if there are small tweaks you can make. For example:
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Can you buy a few refillable water bottles for the home instead of buying bottled water?
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If you are eating out 4 days a week, can you cut that down to 3 days per week?
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Instead of fresh herbs, buy dried herbs.
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In place of fresh produce, buy frozen or canned. Rinse any canned produce first under water. Frozen and canned fruits and vegetables are still jam-packed with nutrients.
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Pre-portion your servings vs buying individually packaged snacks. Studies have shown this can help reduce food costs by as much as 50%!
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Use coupons only for things you will truly use/eat. Using coupons can save you money but if you are using them to buy items you do not use, you essentially are wasting your money.
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When grocery shopping, choose items with the lowest unit price. Buying in bulk can save costs, but not always so check the unit price.