Anyone who has struggled with debt knows that it’s hard to pay off your creditors without finding money in the budget to make those payments. This is especially true for those who have gone through a professional credit counselling session to help them find a better path to manage debt and expenses in the future.
If you are already on a tight budget, it may seem impossible to find any corners that remain to be cut. Can we offer one suggestion? Take a look at what’s going on in your kitchen.
Food Waste is a Serious Drain on Household Finances
Did you know that the average Canadian family wastes approximately 40% of the food they buy every year?
That’s a lot of money to throw directly into the garbage can!
We’ve already provided a few ways you can save money at the grocery store, but now let’s take it one step further by finding ways to waste less food.
Take Time Putting Away Groceries
When you bring new groceries home, take the time to rotate items in the fridge. You might still have a little of something left to use up, but if the new container of milk, yogurt or apple juice is the first thing people spot in the fridge, it will be the first thing they grab. Taking time to use up the old before opening the new will go a long way towards reducing spoiled food in the fridge.
Soup it Up
We’d never recommend eating spoiled food, but there’s a big difference between something that doesn’t look so hot, and something that has gone bad. Vegetables that are still good but a little on the wilted side aren’t very appetizing. Instead, try throwing them in with some water and seasoning to make a pot of delicious, homemade soup stock.
You’ll save what would have otherwise been wasted, and you can use the stock to make other dishes, like rice and potatoes, have an extra kick of flavour. This will encourage using up pantry items too!
Use Proper Storage Techniques
Buying in bulk and freezing meat and other sale items can save a lot of money, but if you don’t take the time to store your bulk purchases, you’ll probably end up throwing all your savings in the garbage. Take the time to properly bag and label your discount finds before adding them to the freezer.
To get out of debt, you need to start with applying available dollar to your repayments. By starting small with simple savings strategies at home, you can make positive, lifelong changes to achieve financial solvency.