A key component of financial independence is the act of living below your means. Living below your means results from taking stock of your expenditures and cutting back on unnecessary spending. Two of the largest expenditures on a monthly basis is food and mortgage/rent. We often look at lowering our mortgage/rent, but what about what we spend on food? If you are able to reduce your expenditures at the supermarket, would you be closer to a lifestyle that accelerates your journey to financial independence? Consider adapting a farming to F.I.R.E approach, and grow your own produce.
Fresh Produce Is Expensive
Purchasing healthy and fresh foods are typically the most expensive portion of your supermarket expenditure. Typically, a mango will cost at least $1 per mango. What about green peppers ($1.30 each), cucumbers ($1 each), chives ($7 a bottle), orange ($1.50 each), grapes ($5/lb), pineapple ($3 each), water melon, ($6 each) avocados ($2.50 each), apples ($5/lb) and tomatoes ($5)? If you are practicing a healthily lifestyle, by the time you exit the produce section, you have spent over half your budget. Have you thought to grow your own produce or at least a portion?
Grow Your Own Produce
Based on where you are living, you may not have access to a large backyard, however, anyone can begin growing their own mint, watermelon, basil, chives, peppers or tomatoes inside. Your investment is the purchase of the seeds or small plants and water. If you have the room to do so, investigate growing mangos, avocados or oranges if you live in an area that does not freeze. Or invest in a greenhouse that may keep your plants warm year round.
For those who have fruit trees or have family members who have fruit trees, the cost of these fruits are the cost of walking outside to pick the fruit or the cost of postage (family members posting the fruits). Once mango/avocado/orange/certain peppers/mints are established, they reliably bear new fruits yearly with very little maintenance required. A little investment upfront, yields generational benefits.
The Benefits: Grow Your Own Produce
Imagine the savings if you invest a little time in beginning to grow a portion of your own foods, growing your own produce. While saving $5 here, $2 there and $10 over there on fruits, vegetables, and herbs may not seem like a lot, the small totals do add up. Consider how much you could save each visit to the supermarket. Then, multiply your total by months and years.
Do not only consider the savings that would be achieved, imagine the satisfaction. Imagine the access to fresh foods if you currently live in a food desert. Imagine the effects on your health.
While we are not encouraging you to quit your day job and become a farmer, we are encouraging you to take a step towards growing a fruit, vegetable or herb. If you like it, grow something else.
Conclusion
A key component of financial independence is the act of living below your means. Living below your means results from taking stock of your expenditures and cutting back on unnecessary spending. Two of the largest expenditures on a monthly basis is food and mortgage/rent. We often look at lowering our mortgage/rent, but what about what we spend on food? If you are able to reduce your expenditures at the supermarket, would you be closer to a lifestyle that accelerates your journey to financial independence? Consider adapting a farming to F.I.R.E approach and grow your own produce.
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