Last week while meeting with a couple who were looking to get serious about their finances, one of them asked me for advice on how to cut spending from their budget without feeling it. I had to think about that for a little while because the reality is reducing expenses usually hurts. Most people enjoy the things they spend money on, and budget cuts almost always come with a certain amount of pain.
However, wanting to give him an answer that was both helpful and realistic, I suggested food is one of the most impactful areas to target. According to the Department of Agriculture, Americans spent 56% of their total food budget on dining out or ordering takeout in 2023. On average, this accounted for just 7.5 meals each month, leaving the rest of the budget to cover about 85 meals. This stark contrast highlights how expensive restaurant food can be compared to cooking at home. By reallocating some of that spending into groceries, it’s possible to stretch your food budget significantly further.
That’s why learning to cook is, without a doubt, one of the most valuable skills for saving money. As someone who enjoys cooking—and, if I may say so, has gotten pretty good at it—I can confidently say that sticking to a modest food budget becomes much easier when you have the right experience and a bit of creativity in the kitchen.
The key is shaping your menu around what is on sale, not necessarily what you feel like eating. That means scanning the front and back page of the weekly grocery ads and stocking up on their deals and then figuring out how you will use them. Last week for example, local sales included pork butt for $1.49/lb, name-brand pasta sauce for .99 a jar, packages of pasta went for an incredible .69, chicken breast was $1.89/lb and a 10lb bag of russet potatoes could be purchased for $2.99. If you know how to utilize these base ingredients properly, and supplement with fresh vegetables and dairy, you can create mouthwatering meals, you are excited to eat, for less than $1.50 a serving.
For example, a single large pork butt can be divided up and converted into delicious carnitas for one meal, chili for a second, and BBQ pulled pork for a third with very little effort. Take the pasta, jarred sauces and chicken and make an amazing chicken parm for dinner one night and fettuccine alfredo on another. Take some of the leftover pulled pork, add some deli ham and Swiss cheese to make Cuban sandwiches with homemade french fries. Or slow roast some chicken breast and place it on top of a baked potato with cheddar cheese, and broccoli for a filling weeknight meal on a cold night.
“If you’re new to cooking, the examples I just described might seem a bit overwhelming at first. However, every entrée I listed is surprisingly simple to make. If you want to give this a try, start small—purchase a few items on sale this week and replace one takeout meal with something homemade.
Use Google as your personal assistant: simply type in the ingredients you have on hand and search for easy recipes that include them. You’ll find plenty of videos and step-by-step guides to walk you through the entire process.”
The possibilities are endless when it comes to having restaurant quality food at home on the cheap when you are intentional about what you buy and how it is prepared. It may take a little effort, but it’s also a lot of fun and can give you a real sense of accomplishment when you serve your family something they really enjoy for less money and fewer calories.
(Past performance is no guarantee of future results. The advice is general in nature and not intended for specific situations)