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We’ve all seen the headlines: the family who got out of debt by dropping their food budget down to nothing, the bachelor who got ‘shredded’ without spending a million bucks on meat, the single parent who saves time by batch cooking meals ahead for about four cents each. There’s something incredibly attractive about this prospect: being able to save a ton of money on what’s likely to be one of your biggest expense categories from week to week. But how realistic is it, really? And what does it take?
There are a few things that all these household budget overachievers have in common. Many of them follow different approaches to nutrition, like growing and foraging their own produce, cutting out meat, or simply reducing processed foods. But it’s how they go about putting their limited food budget to work that really counts.
1. Avoid temptation at the shopping stage
The key to this is getting to know your overspending triggers. Think about the times that you’ve gone for a shop, determined to get only the nutritious basics on your shopping list, and ended up with $50 worth of cheese and a family block of chocolate. For example, money saving expert Penina Petersen advocates avoiding the supermarket altogether1.
2. Plan at least half of your meals
It’s pretty difficult to go straight from a combination of takeaway and random ‘whatever’s in the cupboard’ meals, to planning every morsel down to a T. Take it slowly at first. Start by shopping purposefully for one breakfast, one lunch, and one dinner for the week. Depending on the size of your household, that could mean multiple servings as well. For example, you could buy fruit and oats for a dozen serves of porridge. Soups, casseroles and chillis are fairly solid batch cooking classics that can be reheated for lunch or dinner.
3. Get your macros right
One of the practical challenges of sticking to a tight food budget is feeling full and satisfied. To help with this, you can plan your shopping list so that you’re getting at least a decent balance of macronutrients – that’s carbs, protein and fat. Then make sure that within that, you’ve got a decent amount of fresh fruit and veg. Ask your doctor about a balance that might work for you; some papers recommend about 15-25% of your calories come from protein, 20-35% from fat, and about 45% from carbs2. But everyone’s needs differ depending on their age, activity level and other factors, which is why it’s important to get professional advice on this one first.
4. Make it fun!
Like many new habits, you’ll eventually fall out of it if you feel it’s ‘punishing’ and you hate doing it. So find ways to make your new food budget more fun and social. For example, you and your family could decide to put aside a proportion of your food savings to something fun as a ‘prize’. You could even get the kids involved in picking out cheaper, healthier options while you’re shopping, and let them calculate the reward! If you’re flying solo, why not start a batch cooking club with a few friends? That way, you get heaps of variety in your diet, and you only have to cook one dish.
References
General advice disclaimer
The information contained in this document is provided for education purposes only. It has been prepared without taking into account your particular financial needs, circumstances or objectives. You should consider the appropriateness of the information as it relates to you. You may wish to consult an adviser before you make any decisions relating to your financial affairs.
