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15 Simple Ways to Spend Less on Food and Still Eat Well

15 Simple Ways to Spend Less on Food and Still Eat Well

Buying food these days can really be a pain.  Its important to be smart with your spendings so you aren’t investing a whole paycheck just to groceries. The tricky part is spending wisely without sacrificing certain necessities. By following these 15 steps , you can surely put yourself on the right track to eating good on a budget.

1. Avoid Impulse Buys

What I mean by this is when you go into the store to buy your groceries, stay focused on only what you need, rather than at what looks enticing. It’s really easy to go into a store for a gallon of milk, and come out with $30 dollars worth of junk food that you really don’t need, but you got just because it looked yummy.

2. Shop With Your Blinders On

It can be pretty distracting when shopping for food.  You should always avoid buying something you question yourself on if it might get used, or not. If you go into the grocery store with the intention of buying milk, bread, and eggs go straight for those items, and then check out.

3. Stock Up On Frozen Goods

This is also a good idea for canned goods and other dry goods.  What we do in my house is buy these items in bulk when they are cheaper, and in the long run are saving money when the price goes up. Since they have a long stock life, you only have to worry about perishable items more often.

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4. Pack Your Lunches

This is the one that always gets people. These days, it’s just easier to stop at a fast food joint, or eat at a vending machine, rather than packing a lunch. The downfall of doing that is you are sacrificing not only your health, but you are overspending on food that’s not worth it. You can spend $5 on a burger and fries, or you can spend half of that on a packed lunch, and get more food out of it.

5. Use Your Leftovers

Now I don’t know about you, but almost every time we cook dinner in my home there are always leftovers when we are done eating.  A good way to cut back on food waste, and save yourself some money is to simply use these leftovers.  If you are like me, I like to take these leftovers as my packed lunch for work.  This kills two birds with one stone.

6. Share Meals at Restaurants

This is one step I wish I would have known about sooner.  By sharing meals when you go out to eat, you can save yourself a good chunk of money, and still enjoy going out to eat.  If you think about it, there is almost always a lot of extra food leftover at the end of your meals anyways, so why not pick out something that you and somebody else both like, and split it?

7. Use a Grocery App

Using a grocery app can be really useful in your quest to save money.  You can use it to check out the stores deals while you are there, check out exclusive offers (if you are a member), and it can even help you keep track of what you are buying, and or spending.

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8. Create a Shared Family Shopping List

If you are a fast-paced, always on the go family, then this would be really useful for you.  By keeping a cooperative shopping list in the house, everybody can contribute to it, making it easier for who ever does the shopping.  Another benefit to this is it helps reduce the spending on groceries that are unneeded, and that will generally just go to waste.  If everybody can contribute to it as needed, you will have the potential to save some cash.

9. Set Weekly Limits

This is probably one of the most simple concepts, but the hardest to grasp, but it is possible!  By setting a weekly spending limit, you can easily keep track of your spending.

10. Shop Off-Brand

There is no shame in shopping off brand, or store brand items.  They are usually always cheaper than the big name brand items, and usually you cannot tell the difference between the two.

11. Shop The Sales

Always check your local newspaper for sales.  You can always catch good deals when shopping this way, so why not take advantage of it? Also, by doing this you can plan ahead on what grocery store you go to, based on the best deals, saving yourself money.

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12. Become a Coupon-er

We’ve all heard of those extreme couponing people on T.V., the people who go so far out of their way clipping coupons, just to save money.  Why not become one of these people?  Maybe you don’t have to go extreme like the people on t.v., but clipping coupons can be a great way to save money on your groceries.

13. Become a Member

A lot of stores have free little memberships, where all you have to do is pick up a rewards card, sign up via email, and begin saving.  You can be included on exclusive savings, and coupons, and some stores will give you rewards points towards stuff.  These rewards can save you money on groceries, and even at certain places you can earn money off of gas.

14. Eat off the Value Menu

Another way to save money while eating out is to eat off of the value menu.  You can get enough food to fill you up for just a fraction of the cost by eating out this way.  This way you can still enjoy eating out, but you don’t have to pay full price to do so.

15. Set A Limit

One of the best budgeting tips is to take the amount of money you have each month to spend on food and take it out in cash. Then divide the cash into four envelopes, marked with the weeks (week #1, week #2, etc.). Only use one envelope each week and only spend what’s in the envelope.

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Spending money on food can be more stressful than it should be, so why not try to make it a little less of a headache than it has to be?  I hope these tips I came up with can help you, as much as they have helped me.

Featured photo credit: Money/401kcalculator.org via flickr.com

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Michael Daws

Aircraft Painter, Sports & Lifestyle Blogger

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Published on January 8, 2021

How To Pay Off Credit Card Debt Fast: 7 Powerful Tips

How To Pay Off Credit Card Debt Fast: 7 Powerful Tips

Ever wondered whether your credit card debt is the reason you’re in a bad financial situation? You can’t enjoy any fun activities because a good chunk of your money goes toward debt payment. Heck, you’re even behind on some of your monthly bills.

The effects of clumsy debt management are too many to list here. This guide is going to help you discover how to pay off credit card debt fast and start chasing your financial goals.

Debt problems are the last thing anyone wants to encounter. But things can get out of hand when all the “little debts” you take accumulate in interests.

What if you knew some simple and proven ways to be debt-free quickly? Implementing them would mean better financial health for you. It becomes possible to free up cash for your “wants.” These include taking a trip or buying something you’ve always desired. All that while paying your bills on time!

Let’s not wait any longer. Here are 7 powerful tips for paying off credit card debt fast:

1. Pay More Than the Minimum Credit Card Payments

Many people only pay the monthly minimum on their credit cards. Truly, that’s the right amount for staying on good terms with your credit card company. But you need a different approach if you’re looking to achieve financial independence within a short time.[1]

Most of your payments go toward interest costs when you only pay the minimum amount. A substantial sum of your balance remains standing. As a result, it becomes more expensive to eliminate your debts.

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You don’t want to wait more than 10 years to get rid of debt while it’s possible to do it sooner. All you have to do is double that $100 minimum payment to $200 or go higher.

The good thing is that minimum credit card payments are affordable in most cases. By paying a higher amount, you reduce your interest costs, lessen your borrowing period, and boost your credit score.

2. Start With High-Interest Credit Card Debt

If you have more than one credit card debt, prioritize putting the extra money toward the ones with the highest interests. This debt pay-off strategy, known as the debt avalanche method, is essential for being debt-free quickly.[2]

First, you need to list down all the credit card debts you have in the order of their interest rates. Next, you choose the one with the highest interest and pay a significant amount toward it each month. It can be an amount twice or even thrice larger than the minimum payment.

At the same time, you make monthly minimum payments on the other debts. Their interest charges won’t be as costly as that of the first debt on your list. You only move on to the next high-interest debt after the first one is gone. Remember that your focus is on the interest rates and not the balances.

3. Revisit Your Budget

Budgeting is useful for tracking your financial moves. Once you create a budget, some tweaks along the way can make it work for you better. One situation that requires you to revisit your budget is when you’re struggling with debts. It might hurt a bit to slash some expenses. But you also don’t want to miss out on achieving financial freedom in the long run.

You can reduce some variable expenses to free up more cash for credit card debt payments. They’re the ones that change from time to time. Some examples are groceries, fuel, and clothing.

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Other opportunities for cutting down your spending lie in non-essential expenses. Instead of dining out all the time, you can cook at home more to save money. You can also share some subscriptions with friends and pay a fraction of the cost.

If you’re determined enough, you can eliminate all your unnecessary expenses and focus on paying off your credit card debt first.

4. Avoid Using Your Credit Cards

Do you want to know how to pay off credit card debt with a low income? One simple way is to stop using them. Having your credit cards everywhere you go means that you’ll be more tempted to buy unnecessary stuff. In this case, you spend money that you don’t really own and get deeper into debt.

The quickest fix to stop the debt build-up is spending with cash. You’ll be more aware of everything you can afford at any particular time. If you decide to keep one or two cards to ease the transition, always make wise choices. For instance, only use them when experiencing financial difficulties.

It’s best to categorize your fun activities under “discretionary spending” in your budget. This way, you won’t need more debt to kill your boredom. By halting your credit debt from accumulating, it’s easy to pay down what you already owe and be happy with the progress.

5. Start a Side Hustle to Boost Your Income

You’re probably turning away a lot of money by not monetizing your skills. Everyone has something that they’re good at doing. And you can use that to generate extra income for attacking your credit card debt.

If you look around your neighborhood, you can find several side hustle opportunities. It can be pet sitting, tutoring, or lawn mowing. You can start an online business by offering services such as digital marketing, content creation, and web development. Such skills go in high demand on freelance sites and job boards.

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Finding clients on social media is also a good strategy to utilize your skills and make more money. Facebook groups, Quora Spaces, and subreddits are some places to look for side jobs. You only have to join a niche-specific platform, share your services, and respond to any opportunities.

It’s possible to learn a skill, practice it, and earn from it. Use the free resources online or purchase some e-courses to get started.

6. Sell Your Used Items for Extra Cash

Starting a side hustle isn’t the only way to generate extra money. You can turn unwanted items into cash for paying off credit card debt. Whether it’s an old TV, book, or furniture, there is always someone itching to buy your used stuff.

A garage sale, as much as it’s old-fashioned, is perfect for getting your neighbors and passers-by to buy from you. You keep all the money because there are no business permits or taxes involved. While you may not make much cash, it’s better than leaving your stuff to go defunct in your storage.

Other than that, you can sell your used stuff on online marketplaces. Facebook groups are great places to start if you want quick approvals and hence sales. You only have to ensure that your listing follows Facebook’s commerce policies.

When selling any pre-owned items online, ensure they’re in good shape to avoid problems with your buyers.

7. Know When to Seek Help With Your Debt

Asking for help with your credit card debt can be challenging to do. But letting it drown you is a road you don’t want to take. While you may feel embarrassed at first, it’s the best way to get back on track when you run out of options.

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There are tons of non-profit credit counseling organizations that can offer you free guidance on how to escape the debt trap. An example is The National Foundation for Credit Counseling. They simply review your finances and help you determine the source of your financial problems. After that, they match you with an actionable debt management solution.[3]

In extreme cases, the debt solution can be:

  • Debt relief – where your debt is partially or wholly forgiven
  • Debt consolidation – taking out one loan to repay others
  • Debt settlement – the creditor forgives a significant portion of your debt
  • Bankruptcy – legal process for seeking relief from some or all your debts

It’s necessary to carefully weigh your options before deciding on the way to go. Find out how it might affect your credit score and any other risks.

Wrapping It Up

Debt is a major setback when you’re trying to prosper in life. Paying off credit card debt is essential if you want to reach your financial goals. That means having more free income, a good credit card score, and even a chance to retire early. You become more productive each day because of the peace in your mind.

So, you now have some tips on how to pay off credit fast. Go ahead and get rid of that good life progress killer!

More Tips on How to Pay Off Debt

Featured photo credit: rupixen.com via unsplash.com

Reference

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