Easy Ways to Cut Your Food Bill
Food can easily be one of your biggest expenses. In fact, Americans spend an estimated 6% of their budget on food, according to the U.S. Department of Agriculture.
While more expensive options include eating out or getting take-out, even cooking at home can be expensive, depending on the ingredients you choose to buy. It can be even more costly if you are focused on eating healthy and organic options instead of the less healthy, cheaper options at the grocery store. But just think of all the different ways you could spend the money if you successfully cut your food bill. Read on for ideas on how to cut your food bill each month.
Save Money by Working with Others
One way you can save money on food is by working with others to reduce your food bill. You can set up a food exchange where you trade off nights to cook with friends. This gives you the chance to socialize, you'll save money since it's cheaper to buy and cook one meal for a larger crowd each week than it is to cook several smaller meals for yourself.
Another option is to buy items in bulk through a local food co-op, farmers market, or big-box store. Worth noting: some farmers markets have a section where they sell in wholesale to restaurants, but you have to make larger minimum purchases. Additionally, co-ops often require membership. But going in as a group on either of these can save you money, as well.
Try Saving on Your Lunches
Cutting eating out at lunch can easily save you more than $50 a week, which adds up to more than $200 a month. You can use several lunch savings ideas to help you cut costs.
Try eating leftovers, packing your lunches at the beginning of the week, or doing a lunch exchange at work. All of these ideas can help reduce your food bill. Additionally, it gives you more control over the food that you eat and gives you the option of making – and eating – healthier meals.
Cook More at Home
If you can stop eating out, you can slash your food bill significantly. In fact, a recent study found that millennials spend roughly 44% of their food budget eating out, a more than 10 percent increase from 2010.
So try cooking your dinners at home each night, at least during the week. If you're pressed for time in the evenings, try working slow cooker meals into your weekly dinner repertoire.
Make-ahead freezer meals are another frugal option. (Bonus: there are many slow cooker or freezer meals that aren't unhealthy or starchy.) You can do your cooking for the week over the weekend or make double when you know the meal will freeze well.
If you do find yourself in a situation when you absolutely have to eat out during the week, use these tips to save.
Take the Time to Plan
Menu planning is another key to help you cut your monthly food bill. It not only helps you create – and stick to – a set list when shopping, it can also cut back on the number of unnecessary trips to the grocery store. A weekly dinner menu lets you plan ahead, so you can have easy-to-prepare meals on your busiest days of the week.
If you do not have time to plan a menu, there are several menu-planning services where you get a new menu each week. Most services have several different options you can use. You can check out eMeals, The Fresh20, Saving Dinner, and the Six O’Clock Scramble.
If you have food you love to cook but just need help to assemble your grocery list and menu plan, you may want to look into Plan to Eat, which allows you to plan your menu with your own recipes, then puts together the grocery list for you.
Coupons, Sales and Store Brands
Another great strategy for decreasing your food bill? Paying less for those items you already buy. You can do so by shopping around (pun intended) for the cheapest grocery store. Some stores charge significantly less for the food when compared to others in the area.
You can also use coupons to save money on your groceries. It helps to plan your menu around the sales offered by your store, especially when it comes to the more expensive ingredients of a meal, like meat.
And don't be afraid to try store brands to see if they will work well for you. Some items the quality is not discernible, while others you may want to spend the extra money. You can also consider using a warehouse club to save money by buying in bulk.
Updated by Rachel Morgan Cautero