How to Spend Less on Food and Build a $500 Emergency Fund

This video is part of our 2015 #MoneyMinute contest. Click the “thumbs up” below to vote for this video as one of your favorites and check out all the video entries here. Remember, voting occurs daily!

Name: Alan Slagowski


Entry Category: Saving Money and Frugal Living

#MoneyMinute Voting is closed

Hey everyone, this is Alan Slagowski from Hercules Credit Union. Our money savings tip this month is centered around one of our favorite pastimes — eating. Food is such a big part of any budget, so let’s take a look at three ways we can all save money on food.

Number one, bring your lunch to work. If buying lunch at work costs $5 but making lunch at home costs only $2.50, then in a year, you can afford to create a $500 emergency fund and still have money left over.

Number two, eat out one fewer time each month. If it costs you $25 to eat out but only $5 to eat in, then the $20 you save each month could help build your $500 dollar emergency fund.

Number three, shop for food with a list and stick to it. People who shop with a list and buy little else spend much less money than those who decide what to buy when they get to the store. Just another way to add to your $500 emergency fund. Happy eating and savings.

Related Video

About the Author

GOBankingRates Staff

These articles are written by the in-house GOBankingRates team.

Read More

How to Spend Less on Food and Build a $500 Emergency Fund
Close popup

Win $500 – and Start the New Year Right!

When you sign-up to receive bi-weekly email updates from GOBankingRates, you’ll automatically be entered for a chance to win our $500 #BestBanksBestYou sweepstakes. Sign up now!

Please enter an email.
Please enter a valid email address.
There was an unknown error. Please try again later.

For official contest rules, click here.