Flickr Photo Credit: Ansik
I know this may sound a bit obsessive. And I’m not trying to say you should have to worry about the cost of every single snack you put in your mouth. But making a habit out of calculating the cost per serving of the main meals your family eats can go a long way towards helping you make smart financial decisions.
This is particularly helpful if you are cutting back. How many times have we given in to the delivery pizza craving because we thought it would only cost ” a little bit more” than making it ourselves? The chances are, even a medium sized cheese pizza is going to be close to seven dollars. If you can make one at home for $2.50, then the extra cost is more than just a “little bit”. It’s significant. Particularly if you are indulging 4-5 times per month. That can add up to the cost of a modest pre-paid cell phone plan.
This strategy is also helpful if you have an unexpected financial strain on your family budget, such as a job layoff, medical emergency, or large unexpected bill. If you have a general idea of what meals fall into a certain per serving price category, you can quickly develop a plan to keep your family on financial track during this transition.
For example, I know I can put together a chicken fried rice for around 15 cents a serving. For not much more, a rustic sausage polenta comes to mind. Many soup recipes are also in the less than 30 cents a serving category. One of the things I enjoy about Taste of Home magazine is the section they always have where entire meal menus are broken down into the cost per person.
If you don’t want to have to worry about this every time you sit down to eat with your family, fine. Everyone has different goals and priorities, and just being aware of making more economical choices is more than many people bother to do. Regardless of how often you want to bother to calculate your cost per serving, it is a valid strategy to have in your financial “bag of tricks”. Stewardship over family resources is a job. Treating it like one will help you on the road to greater financial independence.
