Beyond The Financial Nomad

How to Do Effective Food Budgeting

By Arrow

Do you also struggle with budgeting food and spend hundreds of dollars by just clicking few buttons on amazon? Don’t worry; we have a method for you that will always remind you to slow down. Budgeting is not about reaching the extremes of spending and saving, it’s about having a balance between the two. Let’s be honest. We all suck at budgeting. Let’s face it, budgeting can be dull and boring, and who has time to indulge in the complexities of technology and calculations. But with the kakeibo method, budgeting has never been so easy. With the kakeibo method, the emphasis is definitely on saving maximum. No doubt making sure that you don’t spend your hard-earned money on frivolous things is about making sure that you don’t spend your hard-earned money. But first, let’s understand what kakeibo is?

What is Kakeibo Method?

Combination of journaling your finances along with a solid structure for assessing what you can control, the kakeibo method is a perfect way to save your money through effective budgeting of food.

Different Perspectives of Food Budgeting 

Caveman

People with a caveman approach are so frugal that they save pennies and live with just the bare minimum. They don’t spend any of them on luxuries. Frugality can’t make anyone rich. Try to include a personal budget for affordable luxuries. Although budgeting and eliminating wasteful spending have a positive impact on building your capability to build wealth, but in this way, you are being too strict with yourself. Don’t tighten the belt so much that you start to feel like you can’t breathe any further.

Nomad

Nomads try to get the most out of life. They have a balanced approach towards food budgeting. They eat out twice a month but cooks most of the time. They mostly cook at home, and whenever they eat out, they go for quality over quantity. In this way, they enjoy life and also saves money for rainy days. This approach helps you to manage your expenses effectively. Having a financially stable life is all about spending less than you make in a month.

Cyborg

Cyborg makes enough to eat outside all the time but never saves anything. This approach has many harmful consequences as these spending habits can get people into trouble at any time because they have no savings in case of tragedy. If you live your life with this attitude, you need to push yourself to start saving money or you could be heading towards the crash. It will only make things worse in the long run. If you have a tight budget, don’t spend your entire spending on food instead limit your expenses according to your earnings.

Being Nomad-Balanced Approach

So, which of the perspective mentioned above can pave the way for content and successful life? If you are a foodie, you can treat yourself twice a month with your favorite cheesecake. The possibilities are endless. Remember, it’s all about finding the perfect balance in life!

Getting Started with Kakeibo Method 

It’s easy to get started with Kakeibo.

Besides the cost of mere pen and paper, this magical method to save money is absolutely free.

  • Get a ledger, no fancy tools, and applications. All you need is just a pen and paper.
  • Subtract your expenses from your monthly income.
  • Categorize everything you buy; set your desired saving goal for a month
  • Set aside a fixed amount of cash you need for food in a month
  • Take a balanced approach by separating money for a savings account and affordable luxuries just like nomads.
  • Make a list of all the food items you need in a month. 
  • Hold yourself accountable at the end of the month by assessing your food spending habits.
  • Ask yourself how I can improve next month?
  • Repeat the process.

For all the inconsistent, fearful, reluctant, and first-time budgeters struggling with budgeting food, with the Kakeibo method and nomad approach, you can break the debt cycle and can gain financial freedom. Stop wasting money and start saving today.

If you haven’t started saving yet, it’s never too late!

Start Now!

3 Responses

  1. We eat out around two times each month and also try to focus on quality over quantity. We cook each week (one of twice) and we love our homemade food, which is both tasty and healthy. I wouldn’t trade it for something bought. It takes time but it’s worth it and we all pitch in, even the kids help around the kitchen so it’s easier and a lot of fun!

  2. Going to give the Kakeibo method a try. It would be nice to have a list of all the food items we need in a month. I usually make this week by week by seeing the bigger, overall picture might be a good way to see the changes I need to make. I actually like to start my budget by setting aside 3-5% that goes in my investment account. It’s a way to make sure I always invest some money for our future and we can always go without that amount. It’s just important that I set it aside from the start.

    1. Hi Kaitlyn,

      Let me ask you a question regarding Kakiebo. Do you feel that it is easier to shop with cash or credit? Whichever is the easier one, I would suggest doing the other. The reason is that when a choice is hard people tend to be serious about making a decision. You can also put limits. Instead of cash, open a separate checking account for grocery spending only and put a limited amount to hinder you from overspending. Here at Beyond the Financial Nomad, we want people to create their own journey.

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