If you're new here, this blog will give you the tools to become financially independent in 5 years. The wiki page gives a good summary of the principles of the strategy. The key to success is to run your personal finances much like a business, thinking about assets and inventory and focusing on efficiency and value for money. Not just any business but a business that's flexible, agile, and adaptable. Conversely most consumers run their personal finances like an inflexible money-losing anti-business always in danger on losing their jobs to the next wave of downsizing.
Here's more than a hundred online journals from people, who are following the ERE strategy tailored to their particular situation (age, children, location, education, goals, ...). Increasing their savings from the usual 5-15% of their income to tens of thousands of dollars each year or typically 40-80% of their income, many accumulate six-figure net-worths within a few years.
Since everybody's situation is different (age, education, location, children, goals, ...) I suggest only spending a brief moment on this blog, which can be thought of as my personal journal, before delving into the forum journals and looking for the crowd's wisdom for your particular situation.
When I was a kid I was always told to finish whatever was on my place. Wasted food never seemed to be a problem. Today I read in the newspaper that people throw away food worth billions annually. I think this reflects a change in attitude. What happens is that something is cooked. The proper amount is not given any consideration because the leftovers can always be stored in the fridge. Furthermore, the ingredients are cheaper, so there is no thought towards saving time. Once leftovers reach the fridge, there is often not enough for a complete meal or people just “feel” like something else. Thus more leftovers are accumulated. Eventually the leftovers get too old and they are discarded.
Another problem is that sometimes ingredients are bought and only partially used or not used at all. This is perhaps an even bigger problem.
DW and I rarely throw any food anymore after we adopted the following strategy.
We take turns cooking. Each person cooks for one week. Then it is the other person’s turn. We are both quite lazy, so this means that if there are any leftovers from the other person, they get eaten early in the following week. I am not sure why they weren’t getting eaten with our past and more irregular schedule (to be honest, DW did 95% of the cooking back then), but this method works.
If leftovers aren’t eaten directly, they tend to go into “leftover-omelet”. This is a fairly easy thing to make. Put eggs in a deep pan. Whisk them around with a pair of forks or use a electrically powered utensil if you must you owner of a handmixer and then dump the leftovers in there (cut them in small pieces first).
I would also like to take a piece of the honor for not wasting any ingredients. My cooking style is to cook around special ingredients using staples. So come Monday, I look in the fridge to see when we have. Then I see how far I can keep it going with those ingredients without buying more.
I think our food costs have gone down using this method as well.
Originally posted 2008-08-03 18:48:11.