Food Consumption of Average Filipino Family

If you already have your own family, you will realise that FOOD is one of the biggest chunk in your Monthly Expenses. Do you agree? Because I do!

Last August 2018, ABS-CBN published an article about "The Average Pinoy Family spends almost half of funds on food" (please click the photo below to follow the article). Finding ways to cut that by at least 10 to 20 percent can let a typical Filipino family save and invest more and make a big impact to the Family's funds or income.

Click the photo for the ABS-CBN Article

If you want to be more organised with your funds, here are some BRIGHT IDEAS that could help you allocate more money:

1. MAKE MEAL PLANS

List and buy inexpensive ingredients from a market or grocery you usually visit. Of course, avoid picking unnecessary things and FOCUS ON YOUR LIST.

Once you have everything, prepare and cook at least 1 kilo of viand (or more - depending on your family size) to serve for your lunch and dinner. If you cooked way too much, simply REPEAT ULAM or EAT YOUR LEFTOVERS.

2. SHOP AT THE DISCOUNT SECTION

There is a certain area in the supermarket where items are on SALE . You might get a good deal out of this and save plenty, especially when shopping for veggies!

3. MINIMISE YOUR EAT OUTS

Fact Check! According to NEDA, the data for last June 2018 showed that this was one of the highest number of consumers on a monthly basis.

If you're doing it weekly, you may want to try reducing it to twice a month if you want to keep your budget on track.

PHOTO CREDITS TO NEDA

4. DO A PANTRY SWEEP OFTEN - MY USUAL MISTAKE!

Always check first your stocks before heading to the grocery to avoid duplicate purchases. That way, you'll be able to reduce the risk of food expiration or letting it go to waste.

5. LASTLY, LET YOUR KIDS SPEND THEIR ALLOWANCE

This strategy could not only help you save money, but to also teach your kids the discipline on proper budgeting. Keep in mind, if they see you do it chances are they might do the same.

Hope this article inspired you on how to allocate your funds. Try it and See the Difference!!!

#fiinancialLiteracy

#savingtips

#aGlimpseofWandeRIA

#WeeklyRIcharge

#WiseTips

"Please like A Glimpse of WandeRia and Your Financial Specialist in Facebook" :)