Tuesday, August 26, 2008

Eating on the cheap

Many Kiwis are in deep shock over the rapid rise in basic food costs. According to a report in the New Zealand Herald butter has jumped by 80.1% in price in a year, cheese 59.4% and fresh milk 21.5%. The latest news from Statistics New Zealand is that these price rises have made us cut our spending at the checkout.

There are many ways to cut you food spending without damaging your health. the number one tip that comes from the lips of budget advisers and food writers alike is to plan your meals.

The theory that by planning your meals, less of what you buy makes it to the rubbish bin, you go to the supermarket less often and don't make spur-of-the-moment purchases when you pop in to buy one missing ingredient.

However, not all food prices have gone up - some vegetables have actually gone down in price. So, by making subtle changes to your menus, it's possible to keep food costs down.

Also, buying cheaper food isn't necessarily always the only answer. Healthy Food Guide surveyed more than 2000 readers and found that around one-third of fresh fruit and vegetables bought are thrown out.

Tips to help you save at the checkout:

  • Carry a list of prices on your PDA. This way you can double check if you think you've seen a bargain.
  • Use your freezer. Freeze your leftovers instead of forgetting about them. You can even freeze cubes of wine, lemon juice, tomato pastes, pesto and most ingredients you but any usually waste half of.
  • Make one meal into two by eking out the expensive components - such as meat - with more pasta, rice or vegetables.
  • Extend your mince by adding cooked red lentils.
  • Buy dried beans and chick peas.
  • Get creative with salads by using cabbage and carrots, which are cheap instead of fancy lettuce and expensive rocket.

If you find yourself with leftover ingredients then do an online search for ideas on how to use them up.

One rule on the eating cheap is not trying to cook epicurean meals every night. Search for "budget recipes" online and you will be spoilt for choice.

Finish the year better off than when it started

The new year is a time when many of us take stock and set new goals - it's also a great time to think about your financial situation for the coming year.

Everyone can benefit from financial planning. No matter how much money you have or earn, it's about what you do with what you've got. Starting a financial plan early in the year - and sticking to it - will help you finish the year in a stronger position than when you started.

Here are there simple things to getting financially sorted:

  1. Write down your short, medium and long-term financial goals. Your goals could range from paying off your credit card debt, putting a set amount of money away each week or saving towards an emergency fund. Longer term, you could be looking at saving for a house deposit - or knocking off the mortgage completely.
  2. Make a budget. Ideally, you should spend less than you earn. This means looking at how you might be able to cut costs or find ways to increase your income. Once your budget's written down and you can see where the money is going, it van be easier to manage.
  3. Get better at managing your personal cash flow. Think about cash flow as your money coming in (like wages, salary or benefit payments) versus your money going out (bills and other spending). Understanding where your money is going will help you see whether you're sticking to your budget or not and whether you need to make any adjustments.

The Value of Time

To realise the value of one year: Ask a student who has failed
a final exam.
To realise the value of one month: Ask a mother who has given birth
to a premature baby.
To realise the value of one week: ask an editor of a weekly newspaper.
To realise the value of one hour: Ask lovers who are waiting to meet.
To realise the value of one minute: ask the person who has missed the
train, bus or plane.
To realise the value of one millisecond: Ask the person who has won a
silver medal in theOlympics.
Time waits for on-one. Treasure every minute you have.