Easy ways to get that money tree flowering. You’re welcome.
When it comes to budgeting for a family, food can be one of the biggest money-drainers, especially if you’re a family who likes to eat out. Not many of us have the three months in emergency savings we should have just sitting there in our bank account, waiting for a rainy day. Most families would be drained of funds after one month, and this is a huge problem.
We know Australia is one of the most expensive places to live in the world. If the reaction of foreign friends to food prices isn’t enough to convince you, a recent survey by Deutsche Bank confirms Aussie’s pay premium prices for food, alcohol, gadgets, hotel room, even clothing, movie tickets and flowers. In fact a basket of groceries in Australia can cost up to 50 per cent more than it would in the UK and it’s hard to understand why. We’re a nation of farmers. Food should be cheaper.
Whatever the reason for it, food remains one of the biggest expenditures for families in Australia as compared to the rest of the world but it’s also one of the easiest areas to trim.
If you follow these easy tips you could save a minimum of $50 per week which will add up to an additional $2,600 in savings each year.
1. Make a list
We've been told to do this over and over again. Those who make a list of what they plan to buy are more likely to avoid spontaneous purchases. Do you really need three blocks of the latest brand of chocolate, just because it's on a special display case? Are hot cross buns really a necessity in January? Make a list and stick to it.
One of the easiest ways to drift way from your carefully-made shopping list is shopping with children. Mum, can I have...Mum can I get... Solve this buy involving them in the process. Get them to help you write the list if they are old enough or they can hold the list if they are younger. Talk about the list and explain on the way to the shops that you can only buy what is on the list.
I do make a list but I am hopeless at sticking with it so I've resigned myself to the fact that I must grocery shop online. This is a brilliant way to stick to your list and your budget. Before you check out, look over the contents of your trolley and remove anything you weren't planning to buy or don't need. If you've managed to take advantage of specials and have saved, stock up on items like toilet paper and your kids favourite snack foods.
Yes, online shopping normally involves a delivery fee of $9 - $11, however you can save at least $50 buy shopping online instead of in person. It's a no-brainer.
2. Buy in bulk when you spot specials
There are certain items it's easy to save money on because they are on special regularly. Items like bread, fruit, vegetables and toilet paper are always on special at my local grocery store.
When you can, buy these items in bulk so you don't miss out on savings. Families who have an additional freezer in their garage can make the best use of specials such as these because they can store them easily and it's a good idea to keep an eye out for one to buy.
Vegetables are a great item to bulk buy when on special because you can par-boil them and freeze them for soups, salads and stir fries.