If you’re on a tight household budget, a good place to save money is in the kitchen. The cost of the weekly shop, energy bills for cooking, refrigeration and the cost of kitchen accessories all adds up. So, if you’re looking to cut the cost of your family spending, the kitchen is a great place to start.
Look online and you’ll find countless articles offering kitchen money saving tips. But it pays to do your research. Sometimes, the changes you make to save money might actually end up costing more.
Let’s look at some of the false efficiencies that could result in bigger bills:
Using up ingredients
No-one likes waste and it makes sense to use ingredients rather than throwing them away. And often you will have something left at the end of a recipe – for example a couple of egg whites. You might decide to make a dish to use up the whites such as a meringue. But is this really a cost saving? Not if it means keeping the oven on for a long time. Always consider the cost of preparing the entire dish, including energy costs before using up those last little scraps.
Splashing out on multi-buys
Almost every supermarket offers deals to try and get you to buy more. Buy-one-get-one-free deals or offers on larger quantities may seem like they will save money. But if it means you buy produce that you then end up throwing away, it’s the classic false economy. Don’t be swayed by offers, especially if it means choosing a more expensive product, unless you are sure you will use that particular ingredient.
Making your own
Baking your own bread or making your own cakes is incredibly rewarding. It’s also often a healthier alternative to buying shop-bought products. You might feel it’s a cheaper option too.
The truth is, while it may be cheaper to make your own products, it can take a long time to reap the rewards. The first time you make your own cake, for example, may mean investing in lots of different ingredients and bakeware and so the initial outlay can be several times the cost of a shop-bought cake. This isn’t a problem if you plan to carry on making your own cakes year after year – but if it’s a one-off, it’s probably cheaper to stick with the shop-bought alternatives.
Gadgets
You might decide an easy way to cut your coffee-shop bill is to invest in your own coffee machine to enjoy the coffee-shop experience without the daily expense. But so often we buy gadgets and use them only a handful of times before they are relegated to the back of the cupboard. Ask your friends if they have a machine you could borrow before investing in your own to make sure you really will use it daily.
Failing to replace old white goods
If your fridge is on its last legs, you might decide to save money by trying to make it last a little longer. But buying a new one might cut your energy bills and keep food fresher for longer, saving more money.
So certainly, look to your kitchen for ways to save money. But beware and always do the maths before making expensive purchases.
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