1. *if you were absent on Friday, do this warmup on a new sheet of paper*
What is one thing you could spend less money on in your own life?
What is an idea, tool, or technique you have used for saving money?
What is your first memory of managing or using money?

2. Necessaries: Groceries and Clothes
Unit 7

3. Food What options do you have for getting food? Fast Food Meal Deals
Local Grocery Store
Food Shelf
Food in the cupboard
Garden (seasonal)/Farmers Market
Apply for Food Support
Apply for WIC
Family/Friend support

4. Food Pros Cons A. Fast, tasty food
Not always nutritious, can be costly
B. Good selection of foods to prepare, control the amount you want to spend
Takes time to plan meals and shop, transportation
C. Free or low cost food
May not have control over food choices, food may be wasted, stigma
D. Saves money, prepare foods my family likes, emergency/food
Takes time and planning, may be expired
E. Fresh, nutritious food
Time, space, cost of seeds, travel to market, selection unpredictable
F. Resources to purchase food
Paper work, may not qualify, uncomfortable with government program
G. Resources to purchase nutritious food
Need to qualify, transportation issues
H. Time with other family members or friends, free food
May not be consistent, burden on family or friends

5. Food A number of factors influence the price of food.
The principle of supply and demand also causes prices to rise and fall.
The growing season affects supply and demand.

6. Food
The first step to managing money wisely is to set up a plan for spending.
Fixed expenses are those that are paid every month such as rent, loan payments and utilities.
Flexible expenses are those that vary and are not set such as entertainment, food, and clothing.
Keep track of how much you spend in each category for one month by saving receipts and/or keeping a record in your checkbook of expenditures.
Compare what was actually spent during the month with the estimates you set.
If you find it hard to meet all of your monthly expenses, the amount spent on flexible spending will need to decrease.

7. Food
Your values and resources influence the amount of money spent on food.
Before you go shopping, have a plan for each of the meals that will be eaten during the week.
The next step is to add the ingredients you don't already have to a shopping list.
Make a trip to a well-stocked store once a week

8. Food
Check the unit price___the price per unit measure (e.g., the cost per ounce). It is usually posted on the shelf edge beneath the item.
Look for open dating to judge the freshness of food. One of several different dates is used on food.
The sell by date
The use by date
The expiration date
The pack date

9. Food
Include meals that will “stretch” expensive food items (stews, casseroles, stir-fries).
Check for sales and coupons in the local paper or online and consider discount stores.
Try to combine coupons with items on sale for more savings.
Ask about a loyalty card at your grocery store.
Buy groceries when you are not hungry and when you are not too rushed.
Stay out of the aisles that don’t contain things on your list.
Purchase some items in bulk or as family packs.

10. Food
Precut fruits and vegetables, individual cups of yogurt, and instant rice and hot cereal are convenient, but usually cost more.
Double up on recipes and freeze meal-sized containers of soups and casseroles or divide into individual portions and freeze.
Incorporate leftovers into a meal later in the week.

11. Clothes Brainstorm clothes or materials you might need for your job.
Plan spending carefully, especially when buying high cost items.
Comparison shop before you buy any product.
Shop for clothes after checking to see what you have, what you can get from family or friends, and what you can get for free or at low cost at a thrift store.
If you don’t need it, don’t buy it. Ask yourself: Do I need this or do I want this?
Make things last longer by taking good care of them.

13. Your budget
Make a list of the things you (not for the project) buy each month and how much they cost.
Add up the costs and multiply by 12 to see how much you spend a year on average.
Add to the list things you buy only once or twice a year (not monthly) and add the costs into your total.
Circle where can you make cuts and spend less if you have to.