This needs more explanation.
Prices double every 10 years.
If food cost £100 in 2002, it will cost 200 in 2012 at least in the UK
If you put £100 in an ISA (tax free savings)at 5% in 2002, it will grow as follows
Year Savings Weekly grocery spend
- =105 110
- =110.25 120
- =115.76 130
- =121.54 140
- =128.20 150
- =134.61 160
- =141.34 170
- =148.40 180
- =155.82 190
- =163.61 200
This is very basic I know but Now look at it another way...
You pay 100 a week for food for a family of 5 or 6 people (some I know, spend a lot more).
If you were to put away £5'200 as a years food buffer, you would lose far more than £5
It would be around £260 or 5% in the first year alone.
You can store food for more than 1 year ,it just depends how you do it.
- Tinned foods can be stored a long time.They have been heat sealed and the contents are sterile.
- Food sealed in jars with air tight seals.
- Dried foods
- Food dried and then sealed in air tight containers
- Food sealed in airtight food bags using a vacuum sealer
- Frozen foods
- Pickles
- Salted foods
- Foods immersed in oils
You would be hard pressed to find anywhere giving you 10% on your saved money tax free and risk free.
Prices really are that quick at rising. I used to buy fish fingers in Asda.
Once I could get 5 packets of 12 for £1,then it went to 4 at 25p and they reduce the packs to 10 fingers then 3 at 30p and now a packet of basic cheapo fish fingers is 60p ,so 5 packets would cost me £3. That is in about the last 10 years but is a huge leap in price of 200% even if you ignore the reduction in contents.
The tube of puree that cost me 30 pence last year now cost 48p
Tins of tomato are about 7p more this year than last 25 up to 31
'value' bread is 24 up to 48p and is terrible pasty muck,all air and stodge.
10 years ago sunflower spread was about 34p a 500g tub.
You are unlikely to find it for less than 89 pence now. Almost a 200% leap again.
Invisible savings
Sometimes the biggest savings are the invisible ones.
Anything which saves you from spending will be an invisible saving.
The Bread machine
Our bread machine was around £38 new (bought with vouchers from surveys)
It took around 8 months I think to pay for itself (The saving per loaf of bread each time was taken away from the cost of the machine until the balance was zero).
Since that time it has earned its keep. I think we have had it about 9 years. In that time it has had 2 new bread pans and one new bread paddle. Costing around £23 altogether.
A loaf costs about 29 pence to make and so saves around 60p a loaf if we bought a similar ready made loaf.
We have between 3 and 4 loaves a week say it is 3 (now and 4 when DD is home).
this is a saving of 93.69 a year or about £ 750 over its life span so far.
The whole investment of £61 has accrued a saving of £750 in 9 years.
If you also allow for the weekly pizza dough that it churns out,that would be even greater as a home made pizza is equal to a big filling pizza at £3 a shot in Iceland or Morrisons (29p at home plus toppings)
The dehydrator
This was around £130 I think around 8 years ago.It is 12 square feet of drying space.
This year alone it must have dried at least 30 courgettes ASDA £1.50 for 3 so £45
Around 100 runner beans ASDA £1 for about 8 beans so £12.50
30 portions worth of spinach ASDA £1.50 for about 3 portions £15
30 portions worth of Kale ASDA 94p for about 3 portions £9.40
So £ 81.90
It is used for drying bananas and mushrooms when they are reduced in the stores. So I estimate it saves around £100 a year.
The whole investment of £130 has accrued a saving of £670 in 8 years.
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