Lately, I've been reading a lot about food, and its relationship to health issues such as obesity as well as its rising cost of the average basket of groceries because of high oil prices. It made me think of how I eat and how my relationship with money affects my eating and grocery shopping habits. I was traveling in the US a few months ago, and had the opportunity to shop for groceries as well as buy some fast foods. I can understand how many people would rather buy a burger or two at McDonald's from their dollar menu than go to a grocery store and pay the cost of the components to make it yourself, or even looking at healthier alternatives. However, from a longer-term perspective, diets such as these will (or already has) led to health issues such as increased obesity and more alarmingly, a huge spike in childhood obesity. I've read more often than once that this generation of kids may be the first in history to have a lower life expectancy than their parents. This has to be a red flag that raises alarm bells for parents, and society as a whole.
I have always enjoyed good food, and especially as my Mom is a great cook, our family always ate well growing up, even though I would consider my parents to have been extremely budget-conscious. Upon their arrival in Canada in the late 1960's, and having to work low-paying blue-collar jobs, there wasn't a lot of money left over to eat out a lot, or buy expensive cuts of meat. We seldom ate junk food and dining at a McDonald's was a treat.
At meals, my Mom would proudly tell us how little she paid to prepare a delicious meal. Sometimes, the amount bordered on the seemingly ridiculous - "this entire meal for 7 only cost $2!" - and she would proceed to break down the cost of each component of the meal. This is something that always stuck with me, and a practice that I now subconsciously adopt. And it always surprises me how economical I can cook meals (and save money) if there is even some small attempt at meal planning and knowing the fair prices of different types of food.
Where a lot of people spend large amounts of their monthly food bill is usually on prepared foods and/or fast foods. This is both less healthy as well as more expensive alternatives to making quick, easy and nutritious meals. Interestingly enough, I've just finished reading a book called "The Undercover Economist" by Tim Harford. The book explains a variety of everyday curiosities, not unlike the best-selling book "Freakonomics " by Steven Levitt. In the book, the author compares shopping at Safeway supermarkets versus the perceive-to-be more expensive Whole Foods supermarkets. True, there are many more expensive items at Whole Foods, but if a shopper only stuck to the basics, e.g. Tropicana orange juice and yellow onions, then Whole Foods is not more expensive than Safeway. Interestingly enough, Harford's advice is: "If you want a bargain, don't try find a cheap store. Try to shop cheaply". He also mentions that one of the ploys that supermarkets use is to make their "value", no-name or store brands as unattractive as possible, with very plain or crudely designed packaging. While this will not put off the most value-conscious of shoppers, it may spur those shoppers who may be willing to pay more, to move up to a more expensive (and more profitable for the supermarket) brand.
I am eating healthier than ever, partly because I am getting older, and know that as my metabolism slows down with age, the harder it is to break down food, but also because I no longer have a desire for processed food. Also, I enjoy cooking, so this post may not appeal to those who never turn on their stove. Smart shoppers plan their meals and purchases. I usually spend a few minutes a week deciding what I will eat for the week, based on what I have in my freezer or what's on sale at the supermarket. I then do my shopping and spend a few hours on a Sunday preparing the meals for the week. Sometimes this means cooking but often this involves mere preparation such as marinating meat/fish or chopping ingredients to be ready for use when cooking during the week. For example, if three recipes require chopped onions, I may as well do it in one shot rather than do the same activity three times.
Knowing about food also helps. As a teenager, I worked in my uncle's butcher, so I know my way around meat. While the average person buys the traditional (and expensive) cuts of beef such as T-bone, rib eye, tenderloin or New York striploin, those knowledgeable about meat know to look for much cheaper and tastier cuts such as sirloin tip or cap, hanger steak or bavette. Better tasting and half the price ..... hmm, that's a no-brainer to me. I still laugh when my Mom tells me that when we were growing up, chicken wings and pork ribs were considered poor people's meat. How things change.
I read an interesting article recently in the Weekend Living section of the Toronto Star (August 2nd), that talked about staff meals at restaurants where delicious and economical meals are prepared by staff (not always the chef) using economical cuts of meats, scraps and whatever vegetables are on hand. Creativity is a prerequisite - you don't have to be a chef to use your produce intelligently and creatively.
In the June 21st edition of Time Magazine, they challenged six chefs to prepare a healthy and nutritious meal for a family of four for $10. They prove that with some creativity, some basic cooking skills and keeping an eye on your budget, it can be done. To see these delicious budget recipes, go to:
www.time.com/recessiongourmet
At work, I seldom bought lunch, but brown bagged it, and still brought meals that are the envy of my co-workers, at a fraction of the cost of their purchased meals. As most people spend at least $5 a day on lunches, this translates to roughly $1,250 a year. If you were able to make a lunch at a third or even half that cost, you would save between $600 and $833 per year. That could go a long way towards paying down debt, investing in a retirement plan or for a vacation.
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