Tag: Money

Are You Throwing Away Food (and Money and Time)?

Families living in the U.S. throw out about 15% of the food and 10% of the beverages they buy! This means that if your family spends $100/week on groceries you could be throwing away up to $25/week, or $100/month in discarded food! Imagine what you could do with that extra money – and with the extra time needed to shop for the food that gets wasted. Below are ways you can reduce waste in you your home to cash in on saving.

Organize. Save money at the grocery store by what you do before leaving the house. Check our food supplies and plan meals around what you already have. Use the oldest foods in your cupboard and freezer first. Make a grocery list for items you need to buy. Avoid buying perishables that aren’t in your menu plan. Or, adjust your meal plan if you buy perishables that you didn’t originally plan to get.

Buy fewer perishable foods in each shopping trip. Buy only the amount of fresh meats, fruits, vegetables, and other perishables that you can eat in a few days. Stuffing a refrigerator full of food makes it harder to know what is inside. Forgotten food is more likely to spoil. Buy canned, frozen, or dried foods to use until you shop again.

Serve small portions first. Rather than risk wasting part of a large served meal, plan to offer a second portions if you or a family member are still hungry.

Plan for “planned-overs.” You may have more product than a recipe calls for, such as the extra half package of some food. Or you may have more food than your family can eat at one meal. Make a plan to eat these foods later. Could you serve it for lunch tomorrow? Use it in a dinner salad? Freeze extras for later use?

Food patrol. Check in your refrigerator daily for foods that need to be eaten soon. If they are raw, cook seafood, poultry, and meats in the first day or two. Be creative, or find a recipe to use up certain foods. For instance, us a too-ripe banana in a smoothie. Chop rubbery carrots or other vegetables and cook them in a soup or in spaghetti sauce.

By: Jamie Rathbun

Spending Plans for the Holidays

Many families have experienced income loss this year and they may also be wondering how they are going to celebrate the holidays.

This year, the holidays may not be exactly like they have been in the past, but families can still get the essence of what’s important to them without spending as much money. You might think about what you might gain from these changes or adjustments.  It may even lead to some new traditions.

Set a dollar amount limit of what you are spending. Think about how many people are involved and how much to spend on each person. Start early so you can spread out the cost.

Thanksgiving, is a food-heavy holiday, you should plan now to take advantage of sales. Try to eat out of your cupboards in late October and early November to clear out space and help you cut grocery spending in those weeks leading up to Thanksgiving.

For Christmas, keep a list of who you are buying for and what you are spending. Also, be sure to track the shipping information and make sure that you are getting all your purchases.  If shipping directly to the home of someone on your list, be sure to track that the package arrives.

One way to save money is to start scouting prices for gifts you plan to buy. The earlier you start, the more you are aware of prices, and you don’t feel pressured to make purchases at the last minute. Last minute purchases may lead to spending more on the item or having to pay for expediated shipping costs. Be careful when doing online shopping and using credit. By going into the store and shopping you can pay with cash and have a better chance of sticking to your budget.

By: Brenda Langdon

Balancing Income and Expenses

Brenda Langdon, Family Resource Management Extension Agent

The 5 C’s are a great starting point to assist people who are struggling to balance income and expenses in economic good times or bad such as trying to reduce debt, ​establish an emergency fund, save for retirement, or reach a personal financial goal.

Control – As much of the situation as you can.  Recognize that it is natural to feel the effects of stress.  Developing and following a plan can reduce stress and help you maintain control of your financial position.

Communicate – Talk with family members about available income and resources.  Decide what the family needs now, soon and in a few months.  Then make a plan together.

Be Prepared to Change – To make it through the hard times, look for ways to reduce expenses, use the things you have longer, swap items with others, trade services.

Claim benefits that are due to you – Apply for unemployment, SNAP, utility assistance, and local resources as soon as possible.

Confer with creditors – Don’t ignore the situation.  If you can’t make credit payments contact creditors and work out realistic payment schedules.

By: Brenda Langdon

Farm Financial Skills for Kansas Women in Agriculture

We recognize the financial stress that farmers and ranchers are experiencing due to low commodity prices and high input costs. More than ever, financial management of the operation is critical to long-term sustainability.

The Post Rock District, in collaboration with a state-wide team, is bringing a great learning opportunity to the region! “Farm Financial Skills for Kansas Women in Agriculture” is a 4-part workshop series that will teach principles of record keeping to develop a balance sheet, income statement and a cash flow statement. Participants will work with a case farm to do performance analysis and understand how these statements can help with management decisions. The program will be a combination of broadcasted keynote speakers, local speakers, and facilitators to assist in completing the hands-on activities. The goal is for participants to acquire financial management skills they can apply directly to their farming or ranching operations.

Smith Center will be a host location for the program scheduled to take place in the evenings on January 15, January 22, January 29, and February 5. Registration is due by December 31, 2019. To learn more about this exciting learning experience and to register, visit www.postrock.k-state.edu. Contact Sandra Wick, District Crop Production Agent, with questions at 785-282-6823.

By: Nora Rhoades

Save the easy way… automatically!

Never miss a beat when it comes to savings. Make it so easy you never have to think about it by setting aside money for savings automatically.  Learn how to set up automatic transfers from your checking account to your savings account, or have part of your paycheck automatically deposited into a savings account.  Already saving automatically? Find ways to automate other aspects of your financial life in 2019 at https://americasaves.org/.

By:  Nora Rhoades

Health Insurance Considerations

When choosing a health insurance plan there is much to consider. What benefits do you need? Which health care providers do you prefer to use, and which can you use? What costs are you comfortable paying? Do you have an emergency or “rainy day” fund to cover expenses in case of sickness, job loss, or economic downturn?

Many factors should be considered when deciding which policy best suits your needs. The right plan for you will depend on your health and your financial situation.

  • Determine which benefits beyond the essential health benefits covered by all policies are most important to you and your family.
  • Check the drug formulary for your prescription drugs and the list of network pharmacies when looking at your options.
  • Check to make sure the providers you want to use are in the plan’s provider network.
  • Weigh the costs of not only the premium, but also the deductible, coinsurance, and copayments for the plans you are considering.

The University of Maryland Extension has some great tools to help consumers be smart about buying and using health insurance. Contact Nora Rhoades at nrhoades@ksu.edu or 785-346-2521 to access the resources available from K-State and other extension networks.

By:  Nora Rhoades

Dogs, Cats, and Birds, Oh My!

Research backs the claims of the physical, emotional, and mental support pets provide for their families. However, along with the many added benefits of having pets there are the financial expenses for caring for your animal. K-State Research and Extension provides the following fact sheet to help you consider and budget for the expenses surrounding pet ownership.

Dogs, Cats, and Birds, Oh My! ― Factoring Pet Costs into a Family Budget can be accessed online at https://www.bookstore.ksre.ksu.edu/pubs/MF3368.pdf or by visiting your local Post Rock District Office.

By:  Nora Rhoades