Build Your Own “Food Bank”

If you put money in a regular bank CD, you might get 2.4% per annum, and that’s with a very large deposit to be put away for five years. Rates usually hover around 1% or a tad more for us regular folks with not that much spare cash.

Recently, food prices have been increasing by an average of 3.5% in the course of a year. If you buy food in bulk, and put it away in your pantry, you could be looking at a rate of return much better than what the banks – or even the stock market – can offer.

Many people have an emergency fund to tide them over unexpected events like job loss or repair bills. Why not also have an emergency food “fund” that you can live off of during such times? Something you can use if you can’t get to a grocery, during inclement weather, or when you have less income.

The key, of course, is to stock food that you buy on a regular basis and like to eat. Of course, it should be food with a long shelf life like canned goods, beans, rice and the like. No sense in buying food that is cheap but that you (or others in your group) wouldn’t like to eat.

Like any good investment, such a food “fund” should be managed. Mark jars, bags and canned goods with the date you purchased them. Pay attention to expiration dates. Consume older items first and place newly purchased items at the back of the shelf.

Think about having your own household “food bank” and how it can give you the best return for your money.

—Azul

An excellent video about How to Start a Food Pantry. Many thanks to Jamie of Guild brook Farm.