Beef Up Your Savings by Eating Less Meat

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Hamburgers, meatloaf, and pork chops are staples of the American diet, providing one-half of the famous meat and potatoes duo. But with the rising costs of meat, it may be time to rethink how often you eat this dinnertime favorite.

Most People Are Financially Stressed Right Now

Why should you care about how much meat costs at the supermarket? Let’s set the scene.

A new survey shows 61 percent of Americans point to their finances as the biggest stressor in their lives. The reason? Most people find it hard to stretch their hard-earned dollars to cover all their needs.

Living paycheck to paycheck means you have to pick and choose your battles. For some people, this means putting their savings on hold to afford groceries. Nearly a quarter of Americans have zero dollars saved for a rainy day, while another 28% have less than the recommended three months of expenses.

Living without savings may not be problematic in an ordinary month, but it can cause issues when (not if) you run into an unexpected expense. Everyone eventually deals with car trouble, household repairs, or unexpected health issues, and most of these come with costly bills.

Without savings, you may borrow an installment loan online to cover your unexpected brake repair or prescription. These online loans offer convenient and simple ways to apply for financing.

A financial institution like MoneyKey calls these online installment loans a safety net for one-off and unexpected emergencies. The problem here is that living paycheck to paycheck pretty much guarantees this isn’t an isolated incident — you’ll need to borrow with every unexpected expense until you start saving.

Why is Less Meat the Answer? 

Meat has always been a big-ticket item at dinnertime. Per pound, it takes more time, money, and resources to produce than any other item on your plate.

This remains true today as red-hot inflation has yet to cool off. When looking at the rising prices on all goods in the grocery store, meat has seen the biggest jump year over year. Beef and veal rose by nearly 10% in 2020 and experts warn these prices will continue to climb as the days go on.

Big meat eaters can expect to pay more to keep their fridges stocked with their favorite cuts. But what about people who don’t eat meat at all? While they still have to deal with food inflation, vegans can skip the most expensive part of grocery shopping. This little omission means they spend 40% less on food.

All told, you could save more than $1,000 a year by omitting meat in your diet.

How You Can Beat Meatflation

If you’re a tried-and-true meat eater, you may not be able to envision a meal without meat. But don’t worry — these tips are here to help you make more plant-based choices.

• Investigate international cuisines that rely on beans, legumes, and rice, such as Mexican, Ethiopian, and Indian.
• Reframe meat as a treat, eating it only for special occasions or dishes.
• Sign up for vegetarian or plant-based recipe newsletters.
• Learn how to prepare and cook tofu.
• Shop for cheaper cuts or buy whole cuts rather than de-boned, skinless options.
• Opt for canned fish instead of filets.
• Avoid processed meat replacements, as these can be expensive.
• Try one-pot meals like chilis, stews, and curries.

These tips can help you avoid eating meat, the most cost-prohibitive item in the grocery store. Each trip to the grocery will cost less, freeing up more cash you can put into savings.