By: Joey Casolaro, CFP®
Big houses, luxury cars, and expensive jewelry are some of the most common things people believe to be their greatest assets. Although all these things signify wealth, they do not come close to life's most significant wealth and asset, your health. Being physically and mentally able to do the things you love as you get older is something you can't put a price tag on. Whether it's being able to travel, partake in hobbies/sports, or even play with your grandkids, not being healthy and in shape can make these activities much more difficult and even limit your ability to participate.
The two most important things you can do to live a healthier lifestyle and continue to do what you love are (1) eat a well-balanced diet and (2) exercise. However, many people will find that food costs have increased drastically over the past year, making it much more challenging to eat healthily. The chart below shows the 12-month percentage increase in food from December 2021 to December 2022.
*Source – Forbes
Although The U.S. Department of Agriculture (USDA) expects all food prices to increase more slowly in 2023 than last year, they still are projecting a yearly increase of 7.1%! There is, however, a silver lining to the recent jump in food prices. At the top of the chart, you will notice that processed foods that should only make up a small portion of our diet, like cereals and bakery products, have had the most significant 12-month percentage increase. On the other hand, proteins (ex. chicken, meat, fish), fruits, and vegetables which should make up a large portion of our diet, are at the bottom of the chart, which have increased half of what processed foods have, making the case that it pays to eat healthily.
Eating healthy starts with being mindful when you are at the grocery store. A good rule of thumb is to purchase most of your food from the store's perimeter. Whole foods like produce and proteins are around the outer edge of the store. In the store's aisles, you will find processed foods containing added sugar and other unnatural ingredients.
I recently attended a Health & Wellness Forum hosted by the Morris County Chambers of Commerce. I heard Tina Marinaccio, MS RD CPT, an Integrative Nutrition Therapist in Northern New Jersey, speak and present her best tips to make meal planning easy and affordable. Below are some tips she recommends.
Time
One of the barriers to preparing food at home is the time it takes to meal prep. Tina recommends cutting screen time (ex. social media, email), getting your kids involved, and blocking out time in advance for menu planning/cooking to free up more time and be more efficient. Food shopping apps can also help get food in the house with little time and effort. Most apps include instructional videos and recipes, which can be filtered for special diets.
Money
As you have most likely already noticed, food is expensive! Ensuring you eat the food you buy and not wasting anything is a great way to save money. In an article by Fortune, U.S. consumers waste about one-third of all purchased food, equivalent to $1,500 per year in a four-person household! To help this issue, Tina recommends freezing leftover fruits and veggies (great for smoothies), using phone apps that aggregate coupons, and shopping at bulk stores or ethnic markets like Asian or Mexican for competitive prices.
The last tip Tina recommends is to be patient with yourself. Learning a new skill set takes time – read the following article on overcoming the challenges of being a beginner, and everyone learns differently. For example, going to a cooking class may be beneficial if you are a hands-on learner. Teaching your children is another way to reinforce your skills.
To summarize, living a healthier lifestyle will allow you to keep doing the things you love as you age. Although food costs have become more expensive, eating healthily and not spending too much is still possible.
"So many spend their health gaining wealth, and then have to spend their wealth to regain their health." – A.J. Materi
Start a healthy lifestyle now and reap the benefits for the rest of your life.
Joey Casolaro is a CERTIFIED FINANCIAL PLANNER™ at HIGHLAND Financial Advisors, a Fee-Only fiduciary wealth advisory firm that offers comprehensive financial planning, retirement planning, and investment management. Joey graduated from the University of South Florida with a bachelor’s degree in personal finance and successfully passed the CFP national exam in 2021. Joey enjoys working out, spending time outdoors, and hanging out with family and friends in his free time.
Article Sources:
Tina Marinaccio MS RD CPT, Health Dynamics LLC, Integrative Nutrition Therapist
Food Chart - Forbes
USDA ERS - Summary Findings for Food Price Outlook, 2023 and 2024