Steps to reduce food waste and save money

A Malaysian household of 5 people spends an average of nearly MYR900 a month on groceries – but nearly a quarter of that food gets wasted. This means every month MYR225 of your grocery budget ends up in the bin.

If you could save MYR50 a month from your monthly shopping bill, you'd save MYR600 a year. Save MYR250 a month and you'd save over MYR3,000 a year.

Depending on your financial situation, you could use the money you save to pay off debts, build an emergency fund, or invest.

While food is an obvious essential, a lot of it goes to waste. Food production and waste combined are among the largest emitters of greenhouse gases, contributing to global warming and climate change.

Vast amounts of resources – including energy, water, and fuel – go into the process of producing, storing, transporting and disposing of food.

Some common reasons why we end up wasting food are:

Wasting less could help you save money and have a positive impact on the environment.

There are steps you can take to stop food waste and save money on groceries.

Creating a budget is a great way to make the most of your money. First, estimate how much you've spent on food in the last 3 months. Checking your statements and transactions should help you to do this. 

Are you comfortable with the amount you're spending, or would you rather it was less? If so, by how much? It helps to set yourself a goal.

Then, each time you make a budget – for example, every month when you get paid – set aside a certain amount for food. But make sure it's realistic and don't feel you have to cut out all luxuries – just aim to spend within your means.

Make a list of your main meals for the coming week, including all the ingredients you'll need. Check which ingredients you have already, so you only buy what you need.

Try to include food you already have in your plan – especially fresh food that could otherwise go to waste. Are there items you could add, or substitute, in to the next week's recipes to save you buying more?

Think about the types of ingredients on your list and try to include some cheaper meals. Is there anything you could batch cook to cover several dinners?

The main thing is to know why you're buying each item and to have a plan for how and when you'll use it – even if it's just an 'afternoon snack'.

Shopping less often can help you think more carefully about what you buy and save you money. You may find it easier to stick to your budget if you only shop once a week.

And try to find the right shops for you – ones that have the types of food you want at prices that fit within your budget.

Shopping online is a good way to manage your budget, as you can monitor how much you're spending with every item you add to your basket. Some shops offer a similar in-store experience, where you can add up as you go along.

Even if you're not placing an order, you can check prices online to have a better idea of whether your shopping list fits your budget. Check out your credit card-i's latest offers to save money on groceries while you shop.

See all HSBC Malaysia credit card-i offers

Check the best way to store different foods so they don't go off. Check use-by dates too. If you don't have a plan to use something before its use-by date, can you freeze it?

Batch cooking and freezing portions will also help you save money and preserve food. And then you've got a ready-made home-cooked meal even when you don't have time to cook.

This will save you from wasting money on those last minute take outs. Just don't forget to defrost! There's nothing worse than coming home after a long day of work to find that your Hokkien Mee is frozen solid.