<- What is this?
If you said, “A bagel, a banana, and a single serving of lunchmeat,” you are correct. It was also my lunch for today, and cost $2.19.
I hear you whispering to yourself. I know that normally that is not an impressive thing. However, I have been traveling for a conference, and a $2.19 lunch is hugely different than a $5 or $10 or more lunch from eating out. (I will also argue that it is healthier than eating out. Because there is a banana. Fruit.) One of my colleagues even asked me where I got my sandwich because it looked good. What a success!
Occasionally someone will still ask me if I am still doing the $50 food month, or how it went. Although I didn’t finish it, I feel that I learned a lot and am still learning about how to cut costs on food. I see a lot of articles about how to cut spending, and they inevitably list something like, “Stop buying coffee at cafes! A $2 coffee every day adds up to $60 a month!” I think that is a totally valid way to cut spending – if you drink coffee. As I do not, I’m looking for other ways to lower my spending.
These are the guidelines I have come up with to follow for food budgeting.
1. Probably the most important one is set a dollar amount and stick to it.
– I keep every single receipt from my grocery trips, and enter them into an excel spreadsheet with my monthly budget. Sounds boring, but it makes you see the dollars add up. You can’t lie to yourself about your spending if it’s right in front of you.
2. Buy at the best price
– I buy fresh produce at Schnucks and everything else at Aldi. (Okay, I like good produce.) I suppose that I’ll shop at Wal-Mart for more specific items on my grocery list, but since I’m flexible about what I cook and eat, I don’t have to very often.
– You don’t need name brand stuff. Food is food.
3. Consider substitutions
– Can you get yourself to use frozen broccoli instead of fresh? Cream of potato soup instead of mushroom soup because the potato is on sale?
4. Buy on sale if you would purchase it anyway
– Before I left for the conference, I made a quick trip to Aldi to buy snacks for the flight (waaaay cheaper than airport food). Normally soups there range from $0.80 to $1.50 depending on size and type, but this time they had the small cans on sale for $0.40. I use cans of soup when I cook chicken and rice – dump it on top, instant sauce. Buy a few and it’s $1.50 saved. That’s a lot!
5. Let yourself be rewarded by the savings
– This is the one I’m really bad at. When I’m under budget on groceries, I kind of say, “Oh good,” and then forget about it. But if it’s a motivating factor for you, use it for something that makes you happy. $10 under budget? Go see a movie with friends. $20 under? Get a nice bottle of wine. Whatever motivates you. (Just a note – this will probably only work if you are budgeting other things, and thus limited on your spending in other ways as well.
– If you can think of a better way to see your progress, go for it.