10 Ways You’re Eating Away Your Future Savings

10 Ways You're Eating Away Your Future Savings

We all could stand to save a little bit more money, but actually putting that concept into practice can be a little challenging.

When we look deep into our spending, we usually write off any food expenses as a necessity or as an unmovable line item in our budget.

However, the reason you may not have the money to put to savings could be because you’re eating it away! Here are 10 ways you may be eating away your future savings.

Monthly calendar and stack of cookbooks. Conceptual image showing meal planning in progress. Shallow depth of field

You don’t meal plan

If you are just walking into the store and buying without a plan, you might be spending more money than you intend.

When we don’t meal plan, we end up usually buying more food than we need or letting it go to waste.

You eat out whenever you’re “in a hurry”

There is this concept that eating out is a quick fix way to get everyone fed.

The reality is that most people will spend an hour or more at a restaurant!

Instead of going to a restaurant, heat up a frozen pizza at home if you have to. It will be quicker and cheaper than a meal out.

You don’t eat the food you buy

We are all a little guilty of this one.

All of a sudden whatever restaurant or some other meal sounds more appetizing than what we had planned!

This means you end up throwing out the food instead of eating it!

Burger in a box between passed between two people

You eat out too much

Most of us can’t afford to eat three or four meals out a week.

The truth is that many of us still do!

If you don’t have any money left for savings, you may be eating out too much.

You dine at expensive locations

I’m not suggesting that every meal out should be off the cheapest menu, but you shouldn’t be going to fancy restaurants all the time.

Save those for special occasions maybe once a year if you go at all.

You spend way too much money on food for your family

Even if you are eating at home, you could still be overspending!

Buying too much food that you will never eat is the same as throwing it away.

You don’t compare other stores when grocery shopping

You don’t have to hit 50 other stores to get the best deal on your groceries, but you should be doing at least a little price comparing when shopping.

Sometimes a store down the street could mean saving £5 or more.

You don’t take into account what you already have

Eating in is a great start, but you also need to be able to know what you already have on hand before you start shopping.

You make cooking too hard

Sometimes the reason why we want to eat out all the time is that cooking at home is just too hard! Stop making your meals so difficult and start with the basics.

Hot dogs at home are going to be better for you and save you more money than a chicken penne pasta at The Olive Tree.

Two People Eating Some Pizza

You constantly treat other people to dinner

Birthdays and holidays don’t mean you have to eat out.

While it’s okay to treat people to dinner every now and then if you can afford it, it’s not always necessary.

While that meal out now might seem like a great idea, I guarantee that 10 years from now you won’t even remember that meal.

 

 

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10 Ways You're Eating Away Your Future Savings

2 comments / Add your comment below

  1. Excellent post with some great ideas. I have cut down so much on our food bill and buy big packs of pasta ,rice,lentils,etc and make my own pasta sauces,pesto,etc. I have bought kilner jars and keep different wholefoods in each one so they always make a meal. It does help being vegetarian as we don’t have a meat bill, which cuts the food bill down a lot.

  2. An excellent blog, some very interesting ideas here. I have certainly cut down on waste food. No point buying eg a lettuce or cucumber which you know are good for you if you are not going to use them.

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