Money Saving Investments?! Input Needed…

Posted: July 31, 2007 in breaking free of debt, budget, creating a budget, debt, Food, grocery shopping, health, healthy food, investment, life, Me, meat, money, my life, plans, question

Well I wanted to post on money saving investments today, and all I could come up with was one idea.  So I will share my one idea and in return I hope you guys share some ideas on investments that will save money in the long term.

Buy a Freezer:  Who hasn’t been frustrated by the inability of their freezer to adequately contain the fruits of a trip to the grocery store?  And when meat goes on sale, a rare occurrence, it is a great idea to scoop up as much as possible (and reasonable).    For example, our local grocery store occasionally puts 3 lb bags of chicken breast on sale for $3.50 each.  The usual price is 7.99-8.99 per bag.

Now, if you owned an individual freezer unit you would have somewhere to put that discount meat- not to mention pastries, frozen veggies, and frozen fruits.

How much can you save with this idea?  Well let’s just take the chicken example.   My family goes through three bags a month (sometimes four).  At $8.50 per bag the cost over the year is $306, while the the cost at $3.50 per bag is less than $130 per year.  A savings of  $176 dollars over the year.  And that is JUST the chicken.

Now I know there are some costs associated with this.  For example electricity to run the unit.   But, to the best of my knowledge, once the unit is full it is relatively inexpensive to run- as the frozen goods in a packed refrigerator allow the unit to use less electricity than an empty freezer.

So what are your ideas?

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Comments
  1. jarvis says:

    Funny note, I just read this article about eating healthy on a budget and immediately thought of you, only to read this new post about frozen foods, which is talked about in the article…and I have always been a fan of taking advantage of the freezer. Whether saving overripe bananas for banana bread on a later date, storing veggies for an evening soup, or using frozen fruit in smoothies…I just Dig the freezer. Verdict from one health nut to another: if it is within your budget and you will definitely take advantage of it…go for it!

    Blessings In Christ Bro

  2. […] Money Saving Investments?! Input Needed…Well I wanted to post on money saving investments today, and all I could come up with was one idea. So I will share my one idea and in return I hope you guys share some ideas on investments that will save money in the long term. … […]

  3. krislinatin says:

    i spend more money now that i have a freezer and a fridge downstairs.
    i do like it for freezing cookie dough, extra meat, shredded veggies for breads, extra water and extra pop. but i find i buy more at costco, and i hoard food. But i have plenty of food to give away when the need arises. i have never wasted food from the freezer.
    we had the freezer get unplugged and we ruined 100’s of dollars worth of food. i cried. i hate to waste food.
    the initial cost will be alot, with the price of the freezer and putting stuff in it. so if you dont have the money now, dont do it yet.
    for me, i also think about how God fulfills our food needs and i shouldnt be stocking up on food. it can get to be an obsession of sorts, trying to fill it, if i take something out, i gotta run to the store to get more. i mean, really, do we REALLLY NEEED 2 fridges and a chest freezer? and the fodd that fills it?
    ok, i rambled, but take what nuggets out from it you can. blessings, kristina

  4. Randy says:

    Save $176 a year (just for chicken). How much will the freezer cost? What is the timeframe for ROI (Return on Investment)?

    I think you’ll find that if the payoff is more than a year, it probably won’t save you enough money to buy the freezer. Instead, your habits will change.

    My suggestion is to look for a used freezer. You could save big time there..

    Don’t fall into the habit of spending money in order to save…

  5. Catherine says:

    I have to say “Get a Costco Card” If you split the card with a friend it ends up being $30 per person.

    Mike and I purchased a Costco card for $60. Our food bill use to be $250 per month. Now we are down to $180 per month.

    That’s a yearly savings of $790

  6. “I have to say “Get a Costco Card” If you split the card with a friend it ends up being $30 per person.”

    Since my wife is a teach we can get a BJ’s card (no CostCo in these parts) for only 20 bucks/year. But the Costco is so far out of the way that gas would eat up most or savings.

  7. “My suggestion is to look for a used freezer. You could save big time there..”

    Found a nice new freezer for $199 at Home Depot. Used is a good idea though.

    “Don’t fall into the habit of spending money in order to save…”

    Most often that is true, but there are some instances where one can spend money and save. I have read several stories online (and my wife’s parents do the same thing) of folks who have used freezers to save a good chunk of funds. The pay-off seems to come in the second year, and most freezers- even the relatively cheap ones- have a lifetime of about 10-15 years.

  8. […] <b>Money</b> Saving Investments?! Input Needed […]

  9. Michelle says:

    Do you have a Sam’s Club? We have that and we stock up on food that way. Plus we have a family of 5, so we eat alot anyway. Most of their products are cheaper, but you have to be wise because otherwise you will be had. Some people go to Sam’s Club and buy stuff they don’t need. In our family, we don’t do that. We stick to a budget.

    I think the freezer is a good investment. 10-15 years is a good amount of time to get a ROI.

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