According to research by the Skipton Building Society the typical UK family now spends £5,077 on food a year, £423 a month.
There is definitely an opportunity to save money on food. Not just by buying less but by changing what you eat.
If you are serious about implementing a radical retirement plan then it’s time to look at food in a new way…break it down into calories and shop to a budget.
With three meals a day, that works out to be 91 meals a month each. If the average person needs 2,000 calories per day so you need to each meal to have 667 calories.
Can this be done for £2, £1 or even 75p a meal? Yes, but you will probably need eat differently and less.
If you could hit the 75p a meal then your monthly food bill would be £274 a month for four. How much of a saving would that be for you? Every £150 a month off the food bill over 10 years is worth £23,292, compared to paying down your mortgage or saving is a plan than returns 5%.
Look to get your calories in non-expensive foods. And, look to shop in low cost shops and buy shop brands.
Take inspiration from around the world. People in India know that great food is all about preparation and spices, rather than costly ingredients, the same for Chinese and Thai food.
Needless to say, no more takeaways!