Learn & Keep

1,800

worth of food ends

up in the trash can
every month

is what the household will save

every month if that wastage is
reduced by 50%

900
`

45

Jul 2015

2 15

2.2

58

Oct 2015

LAKH
if invested in a hybrid
option that gives 10%

3.88

5.25

6.4

80

LAKH
if invested in an
equity option that
yields 12%

Jan 2016

5.3

5.2

Apr 2016

6.32

2. INTELLIGENT STORAGE
Get fridge in order: The refrigerator should be
set between 34 and 40 degrees Fahrenheit.
Change temperature settings with seasons. Keep
fruits and vegetables that emit gases and hasten
the ripening process of other veggies separately.
First-in-first-out rule: Clear out fridge at least
once a week. Put new groceries in the back and
bring older items to the front.
Use breathable bags: Use paper bags, or biodegradable cloth bags to store veggies. Cut off
tops of carrots, turnips and radishesthey'll last
longer. Pat dry leafy vegetables for longer life.

Plan your purchases: Make a list of items you

need and stick to the plan. Ignore offers that force
you to buy more than you will consume.
Be choosy: Bulk purchase is not always helpful.
Potatoes and onions can be stored for days. Other
veggies will turn squishy in 2-3 days. Leafy
vegetables are best bought in small quantities.

Don't take expiry date too seriously:

When manufacturers put an expiry date on a
product, they tend to play ultra safe. The date
is meant to indicate when the item tasted
best. It will not turn toxic 2-3 weeks after the
Best before date.

Inculcate healthy habits: Encourage family

members to finish everything on their plates.

3. CAREFUL CONSUMPTION
Plan meals to avoid waste: Dont cook in
large quantities. Plan smaller meals so that
there is not much left over.

You cannot eliminate wastage completely but can reduce it by careful purchasing, intelligent storage and optimisation of
usage. Heres how this three-pronged approach can work.

LAKH
if invested in a debt
option that gives 8%

5.48*

6.07

6.85

7.55

lakh in 30 years. However, this is not a static number because food prices keep rising with time.

HOW TO CUT WASTAGE

If the savings are

assumed to rise
10% every year, in
30 years the corpus
would grow to:

YOU GAIN
BIG BY
REDUCING
WASTAGE

* Food inflation in India (in%)

The rise in food prices means

expensesand savingswill go
up every year. Though wholesale
food inflation is lower at 7-8%,
prices of the items in the
consumption basket of the
average urban family are rising
faster at 10-12%.

UP, UP AND
AWAY

accumulate ` 20.5

If the monthly savings on food are invested in an option that earns a modest 10% compounded returns, a family will be able to

is what an average middleclass urban family spends a

month on food

15,000

The world wastes 1.3 billion tonnes of food a year. Indians waste as much food as the whole of UK consumes. While the
wastage can't completely eliminated, it can be reduced. Heres how much you will gain if you reduce the waste by half.

COST A FAMILY `80 LAKH

F0OD WASTAGE CAN

The Economic Times Wealth, July 11-17, 2016

1. SMART SHOPPING
Don't shop hungry: Hungry shoppers tend to
pick up more food than they need. Eat well before
you go shopping. If you cant control your
shopping, don't take plastic money to the store.
Cash payments pinch more, so you spend less.

16