Working with clients in the area of money and work often throws up discussion items like getting a payraise, feeling underapreciated or frustrated because the money they earn is just not enough.  This winter, with the staggering increase in the cost of household utilities, lifestyle is just getting that little more expensive to maintain, even for the basics. Lets look at some ways to address this without looking for that raise, but getting to the same financial position.

Depending on where you get your information, food waste could be as much as one third globally. This shocking statistic showing an embarrassing imbalance between first and 3rd world consumption.  Do you do it at home? Think of when the last time you opened the bin or the compost bin and threw something that was once edible into it.


Some justifications could be:

  •  “ahh, that old bit of lettuce” 
  • “those sausages were going to go off by Monday and I am away for the weekend” 
  • “I’m clearing out the freezer so some of this stuff must go”
  • “I made way too much for dinner and don’t want the same again tomorrow”
  • “special offer on apples, yahoo….I bought 4 bags!”

Sound familiar? It is like opening your bin and opening your wallet at the same time and transferring money from one into the other. Those in debt often don’t see the wood from the trees when considering savings.

So taking the 33% rule, which I know is stretching it a bit but I am here to make the point, which actually a lot of households do fall under, tot up what you spend on food on average per week and multiply it by 52. If, for example, it is €150 for a big family, then you are spending €7,800 a year on food. At an average household food waste of 33%, this equates to €2,600 of wasted food and equally wasted money. Of course all hoseholds are different but you get the picture.

So, two ways to get that pay rise, thinking laterally:

  1. Reducing expenditure by 10% on food would increase your income by €780 net per year (for a €150 per week spend)  
  2. Even if you halve your food waste, on average statistically it will save you €1,300 in your pocket. 

Doing some quick maths adding 1 and, an individual would need to earn €4,333 at higher tax rate, USC and PRSI, to get €2,080 in the hand. The Central Statistics Office showed average fulltime earnings for Quarter 3 this year as about €43,500. Savings on food alone could amount to 10% of that and I am not even getting into switching utilities. The figures are high, but think about what you yourself spend and possibly waste. It might be something you can take action on.


Happy Christmas!!


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