Monday, January 4, 2010

6 Quick Tips to Reduce Family Expenses on Feeding

The amount of money at our disposal is very important, but what is more important is the percentage that is saved and invested.This article looks at strategies to reduce expenses on feeding while having more for investment.The following proven tips will help to achieve that:

1. Buying of food in bulk: The practice of buying things in bulk has the advantage of reducing the unit price of the items purchased.
2. Budgeting family expenses: The family needs a budget of how the income within the month would be spent. This practice prevents impulse purchases and it ensures that the money is spent for the very necessary items.
3. Spending less than the amounts actualy budgeted.: In Africa where majority of the people are farmers, food items are usually cheaper during harveting seasons. These foods could be bought and preserved when they are very cheap.
4. Avoid wasting food: With experience, one should be able to know the amount of food that will be sufficient for the household. Excess food should be re-used or there should be no excess at all.
5. Avoid credit purchases as much as possible: From my own experiences, buying things and paying cash is relatively cheaper on the long run.
6. Avoiding impulse or spontaneous purchases: Effort should be made to stay within the budget that was prepared.
If these tips are followed, it will go a long way to reduce un-necessary expenses on feeding.

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