New data reveals that amidst the current cost of living crisis, nearly half of Australians have opted to cut down on takeaway and dining out in order to save money.
Furthermore, over a third of Australians have utilized store cards to reduce expenses on food.
Experts suggest that implementing certain money-saving practices in the kitchen, such as bulk cooking and minimizing the consumption of branded foods, can lead to significant savings.
In fact, bulk cooking alone has the potential to save individuals close to $6,000 per year, while cutting back on branded foods has already saved Australians an average of $280 in the last month.
Google search data reflects a 20 percent surge in “how to save money” queries in Australia over the past month.
In light of this, experts have shared some top tips for reducing expenditures and minimizing food waste in everyday cooking routines.
By surveying respondents and analyzing their adoption of various money-saving “hacks” in the past month, a budget-friendly meal kit delivery service, EveryPlate, has projected the potential annual savings achievable through these changes.
Five Food Hacks to Save Money and Reduce Waste:
Reduce takeaway and dining out
Nearly 50 percent of Australians have already curtailed their dining out habits in the past month, resulting in average savings of almost $300. By choosing to cook at home more frequently and minimizing Friday night takeaways, individuals can potentially save over $3,000 per year.
Incorporate vegetarian meals
Not only does eating more vegetarian meals benefit the environment, but it can also prove advantageous for your wallet. Around 27 percent of Australians have consumed less meat in the past month, saving just over $100 monthly.
Embrace bulk cooking
Planning meals and preparing larger batches of food can lead to substantial savings. Approximately 23 percent of Australians have experimented with bulk cooking in the last month, achieving savings of over $480 monthly. By adopting this practice, individuals can potentially save nearly $6,000 per year.
Cultivate your own vegetables
In the past month, just over 20 percent (21 percent) of Australians have delved into the world of gardening, opting to grow their own food. Not only does this provide a new and rewarding hobby, but it also results in monthly savings of $275.
Consider meal kit delivery services
Recent price comparison data indicates that Australians can potentially save up to 45 percent by choosing meal delivery services like EveryPlate over traditional supermarket shopping.
Editor’s Note: This article is based on a survey conducted among 1,033 respondents located in Australia.
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