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8 Ways to Eat Healthy Even If You’re on a Budget

8 Ways to Eat Healthy Even If You’re on a Budget

Trying to eat healthy on a budget can be challenging. A lot of the food and recipes you see on websites occasionally require expensive ingredients, and that can be hassle, especially if you have to feed a family. Here are some tips on how to eat healthy even when you’re on a budget.

1. Learn the art of couponing.

eat healthy

    Coupons can save you a ton of money on food every month. It can be difficult to get started because there are so many sources for coupons. Once you get into the flow, it not only gets easier, but you’ll also be able to save money on food that would usually be out of your price range. Here’s a website to help you get started. Some people have boasted that they save up to 50%–90% on food, and when you’re saving that much, you can splurge on more expensive food.

    2. Buy in bulk.

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    eat healthy

      It may seem like you’re buying more than you need, but buying in bulk can save you tons of money. At my local grocery store, Giant Eagle, I can get several pounds of frozen veggies for $5 and that can last for weeks depending on how many people you need to feed. You can buy ridiculous amounts of beans and rice on the cheap. The more you buy, the cheaper it gets. Yes, those Rice-A-Roni boxes seem like a deal at $1, but you can buy several pounds of rice for a couple of bucks more. Rice-A-Roni is also packed with sodium and regular rice can be spiced to your tastes.

      3. Prepare to cook the meals.

      eat healthy

        Microwave dinners and precooked food seem like a great idea and a time saver. However, those foods are generally bad for you. Cooking the food yourself may take longer but you can control what goes in it and you can choose to make it healthy. Plus, with all the bulk food you’re getting from our last tip, you’ll have plenty of ingredients to cook.

        4. Buy generic food brands.

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        eat healthy

          There comes a point where it’s the same thing in a different box and you’re just paying a premium for the right to say you bought the brand name food. This is especially true for cereal. You can get the same cereal for half off by buying off-brand and they taste pretty much the same. Not all foods are good for you, and that means not all off-brand foods are good for you. However, stuff like low (or no) sugar cereal can be pretty decent.

          5. Stop buying bottled water.

          eat healthy

            Bottled water doesn’t seem like it’s expensive but it adds up. Let’s say you buy only $1 worth of bottled water a day. That’s $350 per year (rounded down). You could easily save that money by using a water pitcher (with a filter) and using a re-usable water bottle. With that extra money, you can go buy more food! Plus, those cheaply made plastic bottles really aren’t good for you.

            6. Obey the psychological rules of grocery shopping.

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            eat healthy

              Grocery shopping isn’t always about the physical things. Sometimes it’s about the mental things. With that in mind, you should attempt to exercise the following tips. You should eat before going to the store because you’re more likely to be pragmatic about your decisions when you’re not hungry. You should shop alone because it cuts down on impulse buys from your kids and your husband/wife. Lastly, you should try to make at least a core list and stick to it.

              7. Stop buying take out all the time.

              eat healthy

                Every time you go eat fast food, order a pizza, order take out, or even drop a dollar in the vending machine, you are undermining your food budget. If you eat out once a week for $10, that’s $520 per year you’re spending on eating out. Don’t get us wrong, it’s good to treat yourself every now and then. However, if you’re reading this then you probably have a tight budget.

                8. Try to grow some of your own food.

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                eat healthy

                  Let’s be honest: planting a garden isn’t going to work miracles on your food budget, but it will help a little bit, especially if you plant the right things. Herbs and spices take very little space to grow and you can grow and dry enough to last you for years. Things like peppers and tomatoes are great to grow in most climates and you can use those in almost any food dish. If the garden is big enough, you can grow enough to save yourself a little bit of money. Plus, the stuff you grow is typically going to be good for you. You’re not growing processed foods high in sodium and trans fats.

                  Most people already don’t spend that much on food so we know the budgets are probably pretty tight. Using these tips, you can make your buck go a little bit further and eat less garbage. Your body and your wallet will thank you for it!

                  Featured photo credit: Static via static.squarespace.com

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                  Joseph Hindy

                  A writer, editor, and YouTuber who likes to share about technology and lifestyle tips.

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                  Last Updated on September 2, 2020

                  How to Set Financial Goals and Actually Meet Them

                  How to Set Financial Goals and Actually Meet Them

                  Personal finances can push anyone to the point of extreme anxiety and worry. Easier said than done, planning finances is not an egg meant for everyone’s basket. That’s why most of us are often living pay check to pay check. But did anyone tell you that it is actually not a tough task to meet your financial goals?

                  In this article, we will explore ways to set financial goals and actually meet them with ease.

                  4 Steps to Setting Financial Goals

                  Though setting financial goals might seem to be a daunting task, if one has the will and clarity of thought, it is rather easy. Try using these steps to get you started.

                  1. Be Clear About the Objectives

                  Any goal without a clear objective is nothing more than a pipe dream, and this couldn’t be more true for financial matters.

                  It is often said that savings is nothing but deferred consumption. Therefore, if you are saving today, then you should be crystal clear about what it’s for. It could be anything, including your child’s education, retirement, marriage, that dream vacation, fancy car, etc.

                  Once the objective is clear, put a monetary value to that objective and the time frame. The important point at this step of goal setting is to list all the objectives that you foresee in the future and put a value to each.

                  2. Keep Goals Realistic

                  It’s good to be an optimistic person but being a Pollyanna is not desirable. Similarly, while it might be a good thing to keep your financial goals a bit aggressive, going beyond what you can realistically achieve will definitely hurt your chances of making meaningful progress.

                  It’s important that you keep your goals realistic, as it will help you stay the course and keep you motivated throughout the journey.

                  3. Account for Inflation

                  Ronald Reagan once said: “Inflation is as violent as a mugger, as frightening as an armed robber and as deadly as a hitman.” This quote sums up what inflation could do your financial goals.

                  Therefore, account for inflation[1] whenever you are putting a monetary value to a financial objective that is far into the future.

                  For example, if one of your financial goal is your son’s college education, which is 15 years from now, then inflation would increase the monetary burden by more than 50% if inflation is a mere 3%. Always account for this to avoid falling short of your goals.

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                  4. Short Term Vs Long Term

                  Just like every calorie is not the same, the approach to achieving every financial goal will not be the same. It’s important to bifurcate goals into short-term and long-term.

                  As a rule of thumb, any financial goal that is due in next 3 years should be termed as a short-term goal. Any longer duration goals are to be classified as long-term goals. This bifurcation of goals into short-term vs long-term will help in choosing the right investment instrument to achieve them.

                  By now, you should be ready with your list of financial goals. Now, it’s time to go all out and achieve them.

                  How to Achieve Your Financial Goals

                  Whenever we talk about chasing any financial goal, it is usually a two-step process:

                  • Ensuring healthy savings
                  • Making smart investments

                  You will need to save enough and invest those savings wisely so that they grow over a period of time to help you achieve goals.

                  Ensuring Healthy Savings

                  Self-realization is the best form of realization, and unless you decide what your current financial position is, you aren’t heading anywhere.

                  This is the focal point from where you start your journey of achieving financial goals.

                  1. Track Expenses

                  The first and the foremost thing to be done is to track your spending. Use any of the expense tracking mobile apps to record your expenses. Once you start doing it diligently, you will be surprised by how small expenses add up to a sizable amount.

                  Also categorize those expenses into different buckets so that you know which bucket is eating most of your pay check. This record keeping will pave the way for cutting down on un-wanted expenses and pumping up your savings rate.

                  If you’re not sure where to start when tracking expenses, this article may be able to help.

                  2. Pay Yourself First

                  Generally, savings come after all the expenses have been taken care of. This is a classic mistake when setting financial goals. We pay ourselves last!

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                  Ideally, this should be planned upside down. We should be paying ourselves first and then to the world, i.e. we should be taking out the planned saving amount first and manage all the expenses from the rest.

                  The best way to actually implement this is to put the savings on automatic mode, i.e. money flowing automatically into different financial instruments (mutual funds, retirement accounts, etc) every month.

                  Taking the automatic route will help release some control and compel us to manage what’s left, increasing the savings rate.

                  3. Make a Plan and Vow to Stick With It

                  Learning to create a budget is the best way to get around the uncertainty that financial plans always pose. Decide in advance how spending has to be organized

                  Nowadays, several money management apps can help you do this automatically.

                  At first, you may not be able to stick to your plans completely, but don’t let that become a reason why you stop budgeting entirely.

                  Make use of technology solutions you like. Explore options and alternatives that let you make use of the available wallet options, and choose the one that suits you the most. In time, you will get accustomed to making use of these solutions.

                  You will find that they make it simpler for you to follow your plan, which would have been difficult otherwise.

                  4. Make Savings a Habit and Not a Goal

                  In the book Nudge, authors Richard Thaler and Cass Sunstein advocate that, in order to achieve any goal, it should be broken down into habits since habits are more intuitive for people to adapt to.

                  Make savings a habit rather than a goal. While it might seem to be counterintuitive to many, there are some deft ways of doing it. For example:

                  • Always eat out (if at all) during weekdays rather than weekends. Weekends are more expensive.
                  • If you are a travel buff, try to travel during off-season. You’ll spend significantly less.
                  • If you go shopping, always look out for coupons and see where can you get the best deal.

                  The key point is to imbibe the action that results in savings rather than on the savings itself, which is the outcome. Focusing on the outcome will bring out the feeling of sacrifice, which will be harder to sustain over a period of time.

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                  5. Talk About It

                  Sticking to the saving schedule (to achieve financial goals) is not an easy journey. There will be many distractions from those who are not aligned with your mission.

                  Therefore, in order to stay the course, surround yourself with people who are also on the same bandwagon. Daily discussions with them will keep you motivated to move forward.

                  6. Maintain a Journal

                  For some people, writing helps a great deal in making sure that they achieve what they plan.

                  If you are one of them, maintain a proper journal, where you write down your goals and also jot down the extent to which you managed to meet them. This will help you in reviewing how far you have come and which goals you have met.

                  When you have a written commitment on paper, you are going to feel more energized to follow the plan and stick to it. Moreover, it is going to be a lot easier for you to track your progress.

                  Making Smart Investments

                  Savings by themselves don’t take anyone too far. However, savings, when invested wisely, can do wonders.

                  1. Consult a Financial Advisor

                  Investment doesn’t come naturally to most of us, so it’s wise to consult a financial advisor.

                  Talk to him/her about your financial goals and savings, and then seek advice for the best investment instruments to achieve your goals.

                  2. Choose Your Investment Instrument Wisely

                  Though your financial advisor will suggest the best investment instruments, it doesn’t hurt to know a bit about the common ones, like a savings account, Roth IRA, and others.

                  Just like “no one is born a criminal,” no investment instrument is bad or good. It is the application of that instrument that makes all the difference[2].

                  As a general rule, for all your short-term financial goals, choose an investment instrument that has debt nature, for example fixed deposits, debt mutual funds, etc. The reason for going for debt instruments is that chances of capital loss is less compared to equity instruments.

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                  3. Compounding Is the Eighth Wonder

                  Einstein once remarked about compounding:

                  “Compound interest is the eighth wonder of the world. He who understands it, earns it… He who doesn’t… Pays it.”

                  Use compound interest when setting financial goals

                    Make friends with this wonder kid. The sooner you become friends with it, the quicker you will reach closer to your financial goals.

                    Start saving early so that time is on your side to help you bear the fruits of compounding.

                    4. Measure, Measure, Measure

                    All of us do good when it comes to earning more per month but fail miserably when it comes to measuring the investments and taking stock of how our investments are doing.

                    If we don’t measure progress at the right times, we are shooting in the dark. We won’t know if our saving rate is appropriate or not, whether the financial advisor is doing a decent job, or whether we are moving closer to our target.

                    Measure everything. If you can’t measure it all yourself, ask your financial advisor to do it for you. But do it!

                    The Bottom Line

                    Managing your extra money to achieve your short and long-term financial goals

                    and live a debt-free life is doable for anyone who is willing to put in the time and effort. Use the tips above to get you started on your path to setting financial goals.

                    More Tips on Financial Goals

                    Featured photo credit: Micheile Henderson via unsplash.com

                    Reference

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