100 Ways to Improve 1% – Part 6
This post will be another part of my series “100 Ways to Improve 1%”.
If you are on the FIRE journey, then chances are you have already modified the “big-ticket” items when it comes to your expenses, this is looking at exploring some more fine-tuning touches you can make to your everyday life.
This list has been derived from the people at ChooseFI
Below are the links to the other sections that are part of this series:
Part 1 – Exercise and Personal Growth
Part 2 – Debt
Part 3 – Emergency Fund Savings
Part 4 – Home Expenses
Part 5 – Transportation Expenses
Part 6 – Groceries and Dining Out
Part 7 – Shopping and Services
Part 8 – Internet, Phone and Entertainment
Part 9 – Travel and Sightseeing
Part 10 – Earning Extra Money
Part 11 – Investing and Retirement Planning
Part 12 – Job and Career
Part 6 – Groceries and Dining Out
42) Pick a Different Grocery Store
You may be able to save on groceries simply by shopping at a different store. Aldi, for example is significantly cheaper than the bigger names of Coles/Woolworths. You may have to sacrifice on getting your favourite brands but will end up with much cheaper options. If you have a Costco near you, then you may be able to take advantage of buying in bulk as well.
43) Batch Cook Your Meals
Instead of cooking every day, you could try cooking several days in advance at a time. My sister cooks an entire month’s worth of dinners once a month and freezes them, significantly reducing her time in the kitchen. It will allow you to take advantage of bulk discounts on ingredients, avoid unnecessary wastage and save you significant amounts of time.
44) Buy Snacks in Bulk
Similar to above, but it can be difficult to live without snack foods, the food you eat in between your main meals. Buying these individually can be expensive, but if you are able to buy in bulk, and refrain from over-indulging, then it can be cost effective if you are able to buy these in bulk instead.
Not to mention it could avoid you pursuing a more expensive option of ordering in, or going to the drive thru if you were feeling particularly peckish with nothing to eat in the pantry. You still need to make sure that you can adequately portion control however, as if you end up eating more than you normally would, it simply defeats the purpose.
45) Switch To Generic
This is something I have done a while ago and I really cannot tell the difference between no name brands compared to the more expensive brand names. I will admit, that occasionally there is some “bad” items that are no-name and I would prefer to spend more money on a higher quality item. But a lot of the time there is very little difference, apart from the price. If you switch to generic brands then you can end up saving a significant amount on your grocery bill.
46) Ask a Friend/Relative To Teach You To Cook Their Speciality
If you want to eat something new, but struggle to learn new recipes. Then why not ask someone to teach you their speciality and make a night out of it. You still get the experience of trying out something new, of getting out of the house and socialising, all while keeping the budget low. You can alternate and teach them your speciality next time as well.
47) Share a Costco Membership With Someone Else
Shopping at Costco and buying in bulk can definitely save you a lot of money, particularly on non-perishable items. But for the $60 membership fee it might not be worth it. There is no reason why you cannot share the membership card with a friend/relative and halve the cost of the membership fee but still keep the benefit of the savings.
48) Plan Monthly Wine/Beer Tastings
Sometimes when people hear about being frugal they think it means it limits your socialising, but that does not necessarily need to be the case. You can still socialise and be frugal at the same time. By organising a group of friends to bring around their own wine/beer for a taste testing night. The costs are relatively cheap but you still get the added benefit of trying out new things as well as the social aspect of a night out.
49) Plan Monthly Potluck Styles at Home
Similar to the above, organise with a few close friends to all bring over a home cooked meal of their choice, and you can all try out the different foods among the group. It will be no additional cost to you but will provide you with some variety and much needed socialising. Make sure to share the hosting duties.
50) Disconnect From Restaurant Marketing
Restaurants or Fast-Food places love to get hold of your contact information. They can entice you with “deals” or “discounts” and sometimes the temptation can be too much. Particularly if it is a Friday night after a long week at work and you remember that Pizza place down the road was doing deals for only $10 for a large pizza. By unsubscribing from their emails, and deleting their apps it can help remove any temptation. Any physical mail they send to you, immediately throw it into the recycling upon receiving it.
51) Reduce Meat Content in Your Meals
I do not want to sound like I am preaching Veganism here, but eating more vegetarian/vegan meals can not only be good for your health, but also good for your budget. Some of the vegan meat alternatives can be expensive, but replacing some meat in a bolognaise with beans/lentils/chickpeas is significantly cheaper than meat and still provides a lot of the nutrients you need.
52) Consider Swapping Out Red Meat for White Meat
Similar to the above, I have found that red meat is significantly more expensive than white meat counterparts. Not to mention it has a more dramatic impact on the environment. Swapping out beef for pork/chicken can often be significantly cheaper, and better for the environment.
53) Give Up Alcohol
Alright, I know before I proposed doing wine/beer tasting nights, so this might seem contradictory. And I am not suggesting that you should just completely give up alcohol if you don’t want to. But I would also urge you to look at your expenses to see how much you are spending per month on alcohol. If you are drinking mostly at bars/clubs particularly, the costs can be quite substantial.