Aussies are throwing out a massive $8 billion worth of edible food every year.
Did you know approximately one in every five bags of groceries bought in Australia gets tossed out, with $8 billion worth of edible food ending up in landfill every year1? We check out the cost of food waste for the average Aussie household and how you could save thousands of dollars a year just by reducing what you throw out.
Fast facts: What’s happening around the country?
Sources say food wastage is leaving the average Aussie household out of pocket by anywhere from $1,0362 to over $3,5003 per annum.
Out of the $8 billion worth of food Aussies waste every year, fresh food accounts for 33%, left overs 27%, packaged and long-life products 15%, drinks 9%, frozen food 9% and takeaway food 7%4.
Over a 12-month period, Aussies will waste enough food to fill approximately 450,000 garbage trucks.5
About 20-40% of fruit and vegetables are rejected before they reach grocery stores because they don’t match supermarket or consumer cosmetic standards.6
Reducing food wastage can have a big impact on the environment. This is because when food rots in landfill, it creates a gas that is 25 times more potent than the pollution that comes out of the average car exhaust.7
How to reduce waste and pocket more cash
1. Know what’s in your cupboard
By knowing what’s in your cupboard—fresh produce, canned food, ingredients—the less likely you are to return from the shops and realise you’ve already got one of those and two of them.
2. Abide by your shopping list
Writing a shopping list based on what’s at home and what you plan to cook during the week means you can avoid buying more than what you need and purchasing items you can go without.
3. Take note of the expiry date
Checking expiry dates when you’re shopping and positioning older items at the front of the fridge or cupboard, so they get eaten first, is a good place to start. If fruit and vegetables start to go a bit soft, also look at ways to incorporate them into soups, sauces and desserts.
4. Exercise portion control
If your meal plan for one looks more like something for a family of five, you might end up throwing quite a lot of uneaten food away. Try to buy and cook only what you need, and if you are making extra that it’s something that can be frozen or put away for a later date.
5. Store food properly
Airtight containers, snap-lock bags, fridges and freezers all play a part in prolonging the shelf life of certain foods. So, if you’ve got meat in the fridge that you’re not going to eat this week, put it in the freezer for when you do.
6. Eat the leftovers
If you’re making more food than what you can consume, rather than throw it out, pack it for lunch or save it for dinner the following night. The bonus is you won’t cook twice.
7. Say yes to a doggy bag
If you find yourself unable to finish your next restaurant meal, ask to take it with you so you can cook it up the following day. If you can stretch one meal into two – you reduce waste and the second’s free.
8. Turn scraps into compost
Compost bins and worm farms allow you to break down food scraps and at the same time create natural fertiliser for plantation you might have around the home.
9. Grow your own garden
Cost savings is one of the greatest drivers for Aussie households to grow their own food8. Having your own stash of herbs and vegetables means you always have access to fresh ingredients and just the right amount.
If you’re an AMP customer and want help keeping track of what you’re spending on your groceries, check out the Money Manager function inside of My AMP.
Budget impact on your tax return26 May 2022 | Blog The Federal Budget contained a number of proposed changes that could impact your tax return. From fuel excise cuts to one-off cost of living payments and tax rebates, here’s what you need to know. Read more
10 money conversations to have with your partner17 February 2022 | Manage my money If you haven’t had the money talk, here are the top 10 things to discuss with your partner early on. Read more
6 things to know about buy now pay later services24 January 2022 | Manage my money Nearly 85% of financial counsellors in Australia say half, most or all clients now have buy now pay later debt. Read more
What you need to know
Any advice and information is provided by AWM Services Pty Ltd ABN 15 139 353 496, AFSL No. 366121 (AWM Services) and is general in nature. It hasn’t taken your financial or personal circumstances into account.
It’s important to consider your particular circumstances and read the relevant product disclosure statement, Target Market Determination or terms and conditions, available from AMP at amp.com.au, or by calling 131 267, before deciding what’s right for you.
You can read our Financial Services Guide online for information about our services, including the fees and other benefits that AMP companies and their representatives may receive in relation to products and services provided to you. You can also ask us for a hardcopy.
All information on this website is subject to change without notice. AWM Services is part of the AMP group.