Want a thousand bucks back in your pocket this year? Change your thinking about food

Fighting inflation is kind of like people in the ’90s who were trying to fight the internet — it’s happening to you, whether you like it or not.

The truth is that right now with the way the economy is going, the only way to deal with outrageously high food costs is to change how we eat.

Let me clear something up now before I get raked over the coals on Twitter, and before I offer some savings tips: I believe price gouging for food is wrong. Along with you, I hope for swift action to be taken for any illegal or unethical grocery pricing tactics.That said, there are practical lifestyle changes you can make to bring your food bill down pronto — like, this week.

Love those leftovers and use them with intention

Repurposing leftovers into new meals allows you to stretch your groceries.

According to Second Harvest, this technique can offset more than $1,700 of costs for a family of four in a year. Here’s an example; keep the extra steamed rice from dinner for a next-day vegetarian stir fry.

Some savvy savers go so far as to ensure they have leftovers for lunch the next day to save time and avoid having to prepare new meals.For example, you might not even need to buy lunch meats, cheese or mayo anymore if you plan to always eat the previous night’s leftovers.

Meal plan for at least five days in advance

Only knowing what you’re making the next day doesn’t allow you to be strategic at the grocery store.

Map out what you want to eat for the next five to seven days and be clear about the ingredients that go into every meal. Create a list of everything you need, and then shop.

Here are two fun facts for motivation as you prepare your meal plan; first, meal planners report saving between 20 and 30 per cent on their food costs (some of this is attributed to not having any waste); and second, meal planners have a higher rate of success when it comes to achieving their diet and health goals (eg. in their meal plan they would incorporate a $5 package of low-fat minced turkey rather than an $8 package of ground beef of the same quantity).

When you start meal planning and making lists of what you actually need from the grocery store you should be able to reduce your food waste down to almost nothing.

Don’t believe these myths about flash frozen food or bulk buying

Flash frozen fruits, vegetables and meats are as nutritious as buying fresh according to studies done at the Mayo Clinic. So, don’t believe that you’re compromising on nutrition if you can’t buy fresh everything. Flash frozen foods can also be priced lower.

The second myth to debunk is around bulk buying being a surefire way to save.

Bulk buying can actually work against your budget and create waste when there is no meal plan, and when you’re not on top of what is or isn’t a reasonable price per unit on whatever you’re buying. When you know the per unit cost, you might just find that it’s more economical to purchase at your local grocer, and in the quantity that you actually need, rather than having an abundance of cans of tomatoes it will take you a year to get through.

Be open to alternatives when it comes to fresh food

In-season produce is more economical than trying to buy it out of season — and it also tastes a lot better! What’s in season, and less costly, might not be what you’re used to cooking, but that’s OK. Google search recipes that use the new-to-you ingredient and you’ll learn to cook something new. I’m a big fan of alternatives like choosing fresh spinach over romaine lettuce if the cost makes sense. Or, you might find a bean-based recipe is just as tasty and nutritious as one with meat.

Here’s a fun tip; certain grocery stores and markets slash their prices on produce and meats that are expiring soon.

When I first moved to Toronto, having grown up in Alberta and buying from local farmers at the end of their day, I would show up at the farmer’s market downtown Toronto at 3 p.m. each Saturday for the end-of-day discount bags — they were like surprise bags of amazing produce for a third the cost. I would work the mystery produce into my meal planning, subbing out the called-for ingredients with the new ones from my surprise bag.

The Too Good To Go app crossed my desk this past week as a nifty way to find these surprise bags of discounted groceries and claims households using the app report savings of about $600 a year.

Always, always price compare

Some retailers generally have lower prices or offer lower cost options like private label brands. If it’s been a while since you’ve tried a different grocery store or even different brands of products, or looked online for sales or coupons, shake up your routine and try something new.

This article was originally published in The Star. Lesley-Anne Scorgie is a Toronto-based personal finance columnist and a freelance contributing columnist for the Star.

Previous
Previous

Rate hikes got you down? Money moves to motivate you to save and crush debt

Next
Next

‘Free’ money?! Check for strings attached before saying yes