Highlights in this issue:

*** Plan like a pro and you’ll save up to 14% of your weekly shopping budget…
*** Want to make food last longer – don’t go shopping on these days…
*** The single best way to saving money on food… and more…

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From the pen of Karin Iten...

Dear Investment Academy Reader,

According to the Mail & Guardian, “it’s almost impossible to determine how much surplus food is thrown away in South Africa”. But, if we’re anything like our American and British counterparts, we’re likely throwing away 14% of the food we buy every month. Often this is because the food’s gone off, other times because of poor planning. And it’s costing individual households thousands of rands a year.

So this week, I’ll show you how to shop smart, plan like a pro and save money next time you’re in your local supermarket.

Shop smart (and save cash) with these 6 tips...

Tip #1: Timing is everything
Since most food (and money) wastage stems from spoilage, the best way to make sure you’re not chucking food in the bin is to buy it fresh. Sounds obvious, doesn’t it? But, did you know that the time and day you buy certain items of food can affect how long it’ll last? For example, if you don’t live at the coast, only buy fresh fish on Tuesday or Friday afternoons since that’s when you’ll have the freshest selection. And never buy fruit, vegetables or dairy products from a grocery store on a Monday – most stores don’t stock up on fresh produce until Tuesday morning so these goods won’t last as long.

Similarly, always buy bread and rolls (whether freshly baked on the premises or pre-packed) after 10am. This way, you’ll know you aren’t getting yesterday’s loaf since deliveries will have been made and you’ll have allowed the shop enough time for baking. And remember, the best time for general grocery shopping is between 9:30am and 2pm on Tuesday and Wednesday. The crowds are minimal on these days and the shelves should be freshly stocked.

Tip #2: Write it down
It goes without saying that making a shopping list before you leave the house is a great way to make sure you stay on track. But, that’s not the only list you should be making. Planning your meals a week in advance is one of the most effective ways to cut wastage and your food bill in half.

Start by checking your fridge, freezer and cupboards so you don’t buy what you already have. Next, check the “use before” dates on perishable items in your home. These should influence your menu choice as you’ll have to throw away these goods if you don’t use them before the expiry date.

Tip #3: Be wary of bulk buying
Buying in bulk sounds like a great way to cut costs, doesn’t it? And it is, if the cost per item is cheaper in the bulk special than it is on its own, the “best before” date is months away and you’ll be able to use all of it before it goes bad.

My top tip for buying in bulk is: Begin with items you constantly use, like toilet paper, paper towels and cleaning supplies. Sure, the initial bulk buy on these items will be higher, but that extra money you save in the long-term will be well worth it. And remember, just because you’re buying in bulk, doesn’t mean you’re getting a good deal. So make sure you know how much the individual item costs to ensure you’re benefitting.

Tip #4: Know your food
Different foods store better at different optimal temperatures. When it comes to fruits and vegetables, most of us get this horribly wrong. We tend to toss all our fruits and veggies into the crisper part of our fridge. But, did you know that apples (and some other fruit) give off a gas called ethylene that actually speeds up the ripening process in vegetables? This means if you store them together, you’ll end up throwing a lot of these veggies away. Similarly, cold temperatures can actually damage some produce, such as squash, tomatoes and oranges.

And don’t forget, produce lasts longer when it’s whole. So buy greens that still have the stem intact and don’t buy prepared salads or veggies unless you plan to use them that day.

Tip #5: It’s all about control
Truth be told, most of us cook too much and end up with piles of leftovers cluttering the fridge only to be thrown away a few days later because it’s gone bad. The only way to avoid this is to plan your portions correctly but this takes a lot of time and effort.

Not any more… if you know what you’re cooking and how many people you’re cooking for, you can now get the quantities worked out for you. Visit www.lovefoodhatewaste.com/perfect_portions and let the site’s portion calculator do the maths for you.

Tip #6: Do a garbage check
If food gets the “heave ho” because you’re leaving it in storage too long, go through your garbage to determine which items you throw away most often. If, for example, you’re chucking half a head of wilted lettuce away on a weekly basis, consider making more salads at the beginning of the week or buying less greens.

Here’s to your financial freedom,

Karin Iten
For the Investment Academy