Food wastage is a worldwide issue that affects the environment.
But did you know that it can also take a toll on your personal finances?
According to this survey, Malaysians waste about 16,688 tonnes of food per day which could feed about 3 million people, up to three-time times a day.
Read on to learn how food wastage can affect your finances and what practical tips you can implement to minimise this financial drain.
Who Wastes Food the Most
You might think that big companies, hotel chains, food manufacturers and restaurants are the main contributors of food waste.
But think again.
This study found that households take first place when it comes to food wastage in Malaysia at a whopping 44.5%.
And we can’t let the commercial and industrial sector off the hook either.
Their food wastage comes at a close second with 31.4%.
How Much Money Do People Waste on Food
There is no one statistic that we can neatly squeeze every household into.
Some families are frugal and strict about food wastage, others waste food every day and without the slightest thought.
So, these numbers are an estimation at best. But it may shine a light on your own finances.
According to this news report:
“A Malaysian household — there were 7.5 million of them in 2016 — spent close to RM900 a month on food and that a quarter of that food is wasted during preparation, cooking and usage. This means about RM220 goes into the dustbin every month, or RM2,650 a year.
That may not be that much in the grand scheme of things.
But remember, if you actually do your budget and calculate how much money you waste on food, that number can easily triple or quadruple.
Putting you at a much greater financial loss than you realise.
Money Down the Drain
When you waste food, you’re basically throwing away money.
Every piece of produce you let rot in the back of your refrigerator, every half-eaten meal at the restaurant you didn’t finish, and every expired item in your pantry represents money down the drain.
Over time, these small losses accumulate to a significant amount of money.
Money that could have been used for other essential expenses or saved for the future.
The Bigger Picture
Let’s take the equation out of your own bank account and paint a bigger picture on the reality of food wastage.
The cost, manpower and resources need to grow, harvest, process, distribute, store and prepare food already costs millions upon millions of Ringgit.
These resources don’t just include things like water, but also electricity, which runs on fossil fuels.
Then comes the actual food wastage that consists of both inedible food ‘scraps’ and edible food leftovers.
Most of that food waste then goes to landfills where it rots for years and years, pumping methane into the air, further contributing to the global climate crisis.
So, if you’re not reducing food waste to save your bank account, at least do it to save the planet.
How to Reduce Food Wastage
Grocery Shopping Habits
Food wastage often begins at the grocery store.
Shopping on impulse, buying food in bulk without a proper plan, and purchasing perishables with short shelf lives.
These all eventually contribute to food waste in your home.
Creating a shopping list, sticking to it, and buying only what you need can help you avoid overspending on groceries and reduce waste.
Perishable goods for instance should only be bought on demand, and not stored ‘for a rainy day’.
Not unless you know how to properly store them.
Expiration Dates
Expiry or expiration dates are the second thing you should watch out for when you’re looking to reduce food wastage in your home.
Many people misunderstand the idea of expiration dates.
This often leads to the premature disposal of perfectly edible food.
The expiry dates on the back of products indicate the ‘window of time’ where the product is in its best condition.
When it is the freshest and best tasting. Not necessarily the safety of the product.
Learn to differentiate between terms like ‘sell by’, ‘use by’ and ‘best by’ dates.
This can prevent unnecessary food disposal and save you money.
Leftovers and Meal Planning
We often tout meal prepping or meal planning as a good way to reducing or tackling food waste. Cooking food in bulk and storing for later.
But many people might not do their research before meal prepping.
Cooking in excess and not having a plan for surplus food can result in wastage.
When it comes to meal planning, less is more.
This not only reduces waste in the home, but also minimises your dining-out expenses.
Proper Storage
Inadequate food storage can cause items to spoil prematurely.
So, invest in proper food storage containers, and learn how to store different types of foods effectively.
For example, storing fruits and vegetables separately and at the appropriate temperature can extend their freshness.
And some foods last longer when frozen than just leaving it in the fridge portion.
Saved Food, Save Money, Save the Planet
Food wastage is a costly problem that affects both the environment and your finances.
By being mindful of your grocery shopping habits, paying attention to expiration dates, practicing portion control, and embracing meal planning, you can significantly reduce food wastage and save money.
Remember, every Ringgit saved on reducing food waste is a Ringgit that can be put to better use in your budget.
So, take steps today to minimise food wastage and improve both your financial wellbeing and your environmental footprint.
We only have one planet, hence it’s time we take better care of it.
For more insightful stories and fun recipes, stay tuned to Motherhood Story!