How to Save Money on Food

Tips for baby boomers: Saving money on food

When you enter into semi-retirement or retirement, you may be facing severe cuts in your income. At the same time, food prices continue to sky rocket, so the question of how to save money on food becomes increasingly important. As a baby boomer, you may know how much money you need for food, every month. Like most people, you will have an idea of approximately how much you spend, but few people watch their dollars that closely. While there are many things that you can avoid purchasing when money is tight, you cannot just stop buying food. What can you do?

Here are some tips about how to save money on food.

Start a budget:

If you have not done so already, begin a budget. Purchase a record book and keep track of your household expenses, for several months. Include your mortgage payment or rent, taxes, heat, hydro, telephone, water, cable and Internet. You may want to include things like your car payment and insurance, too. You know how much income you have coming in, so when you consider these expenses first, you will have a better idea of how much money you have to work with, in terms of purchasing food or other basics.

Record all of your food purchases:

Save all of your receipts for food purchases. Collect them in a box, Use a calculator to tabulate them and find out what your food costs have been for one, two or three months. Average them out and this will give you a good idea, as to how much you are spending on food. This will also show you how much money you need for food purchases, every month.

Record dining out costs:

Dining out expenses may not have been included in your food purchases, so make a record of those. Save your receipts from meals you have eaten in hotels or restaurants. This can and will vary, depending upon how much time you spend away from home. Calculate your total expenditures over several months and average them out, to see how much you are spending and how much you need to allow for dining out, in your budget.

Once you have both of those records, add them together and you will have an idea of approximately how much money you need to allocate for food, every month. This will vary, depending on the season.

Look at what you are purchasing:

Take a serious look at what you are purchasing now. If you are only buying bare basics, you might need to allow room in your budget for extras. If you have been purchasing food items that you do not need to stay healthy, you may be able to reduce the amount of money you need for food, by eliminating those extras. Calculate your needs based on basics, rather than snacks or junk foods.

Check your cupboards:

Take a good look in your cupboards and see how much of what you have been purchasing is being used. Many people have overstocked their cupboards needlessly and wind up giving food away or their cupboards are bare, when they do not need to be.

Note that everything in your cupboards has a shelf life, so begin by cleaning out everything that is outdated. Stock up on basics. Organize your cupboards, so that you know what you do have and what you need to purchase.

Consider purchasing a freezer:

Decide whether owning a freezer would be to your advantage. Many different kinds of food can be purchased in bulk and stored in a freezer. This can include meat, chicken or fish. Many fresh vegetables and fruits can be purchased in bulk and frozen easily. So can fruit juices. Everything has to be used within a certain period of time, so avoid over-purchasing items for your freezer. Purchase what you know you will use. Learn how to make freezer jam.

Buy basics in bulk:

Purchase things like flour, sugar, rice, lentils and salt in bulk, but make certain that you have an appropriate place to store them. Anything you purchase in bulk is less expensive.

Buy only what you need:

When you are shopping for food, make certain that you are purchasing what you need, rather than extras you may or may not use. You do not want to spend money on food products, if you know that they will have to be discarded. Keep a grocery list and stick to it when you are shopping.

Check your refrigerator regularly:

Many fresh products that you purchase are only good for a limited time, so it is to your advantage to purchase these more often, rather than having to throw them out because they are outdated. Check your settings on your refrigerator and make certain that they are correct, so that your food does not spoil. That is just wasting your money.

Check local markets:

Check your local markets, as many times, there are items on sale, at less cost than if you purchased them in a supermarket. Sometimes, it is more appropriate to make your purchases in a supermarket. Buy in-season produce whenever it is possible to do so.

Watch your flyers:

Flyers in your mailbox will have coupons for items that are free, on sale or priced as two-for-one. You do not want to drive extra miles just to save a few pennies, as it may cost more in the long run. Stock up on canned goods and other non-perishables, when they are on sale.

Grow your own vegetables and herbs:

Many people save dollars by planting a small garden or growing fresh vegetables on a patio deck. Initially, there may be cost, but calculated year after year, you may find that you are saving money.

Consider a community garden plot:

With increasing concern for availability of fresh food items, many city dwellers are participating in community gardens. Make inquiries in your area or start one with and for other people, who live in your area.

Cook and freeze in large quantities:

There are many different kinds of foods like chili, stew, spaghetti sauce or soup that can be prepared, in large quantities. Use part and freeze the rest. Either consume these foods later or share them with someone in need of a special, homemade treat.

Learn to do your own baking: 

Home baking is loved. Perhaps you have never learned how to make bread or biscuits, cake or cookies. Now is a good time to start. If you are concerned about not being able to do it right, take a cooking class or seek out expert advice from someone who is a good cook. Baking usually freezes well.

Experiment with different cuts of meat:

Sometimes, when buying meat, it is a good idea to buy an expensive cut, but not always. There may be other cuts of meat that give you more value for your dollar. Try purchasing stewing beef, instead of a roast. Buy a whole chicken, rather than breast meat. Boil the bones after and make soup.

Many baby boomers go out regularly for one meal a day, at a restaurant, where there is a smorgasbord or a buffet. They will invariably head home with a doggie bag that will serve as part of their breakfast or lunch, for the next day. They don't buy many groceries and still stay healthy.

When eating out, remember that there are different options. Watch for daily specials, as these will be less expensive. Again, avoid expensive foods and stick to ones that you know are good for you.

Learn how to can your own food:

Many fruits and vegetables can be canned, when in season. Try doing some jam, also.

While there are more ways to save money on food, these are basics to start with and these tips can save you hundreds of dollars on food.