Tuesday, November 17, 2009

A Food Budget To Free Up Money

By Mike Smith

If you keep track of the money you spend on household expenses, you may find that one of your largest expenses is what you spend on food. While food is expensive, a good food budget can help you to save money and that money can be used to meet other expenses in you overall budget.

Start by packing your own lunch for work. It is easy to add over twelve hundred dollars a year that can be used for other purposes by taking your lunch to work. While you are at it, cut out all of those fancy coffees you are drinking on the way to and from work. This can save another one thousand dollars per year.

Stop going out to eat regularly as a family. A family of four can easily spend eighty to one hundred dollars on one meal if tips are included. By learning to cook your own meals, you not only save money, you can eat much more nutritious meals. For each meal you eat at home you may save seventy to ninety dollars.

Try to plan a menu and stick with it. Once you plan your menu, plan your shopping list from the menu. Once you get to the store, you may need to make substitutions in order to save the most money by using food that is on sale.

Stop throwing food away. Only cook the amount that your family will eat at one meal, unless you are willing to eat leftovers. Leftover food is a great option for your brown bag lunch the next day, especially if you have access to a microwave oven at work. When planning the menu, plan to use fresh produce early in the week and canned or frozen produce later in the same week. Use you freezer for any meats that you purchase that will not be used within one to two days. They can be quickly defrosted in the microwave.

Just because you have a food budget does not mean that you cannot have great meals.

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