Banking News Britons Waste Millions On Food Despite Credit Crisis 1380

Britons waste millions on food despite credit crisis

14 April 2008 / by Rebecca Sargent
Britons waste more than £218 million worth of food every week, new research from Abbey has revealed. According to the study, the average household throws out six per cent of their food shopping because they have not been able to eat it before it reaches its sell by date.

This wastage could be reduced if Britons were more efficient food shoppers, Abbey has argued. The figures come amidst financial turmoil where millions of British households are finding money is tighter than ever before.

The price of basic food items such as eggs, milk and bread has risen at an alarming pace over the past few weeks and, according to the Food and Agriculture Association will continue to rise.

Abbey’s research has shown that the average UK household throws out an average of £5.10 worth of out of date food every week, whilst young shoppers are the worst for wastage as they chuck out ten per cent of their groceries, worth an average of £7.31.

In a time when money is tight, the need for efficient grocery shopping is highlighted; Abbey’s research showed that those who shop weekly are likely to waste less than those who shop meal to meal. Weekly shoppers throw way six per cent of their groceries on average, whereas meal to meal shoppers find themselves wasting 8 per cent of their groceries.

Steve Shore, Director of Abbey Banking, commented: “Despite our best intentions, it’s often difficult to estimate food consumption – but doing so helps prevent waste both in terms of food and money. Saving an extra few pounds on the weekly shop can go a long way, especially when people are already feeling stretched.”

According to Abbey, it is not just food and money that will be saved by shopping more efficiently, it could also help to save the planet. P

lastic carrier bags are on the verge of being banned and are proven to damage the planet and harm wildlife, Abbey has estimated that through careful shopping, Brits could reduce the amount of plastic bags used each year by around one billion.

By planning meals and shopping accordingly, Brits could find themselves much better off. Seven or eight pounds a week may not sound like much but, according to Abbey this can soon add up, especially when placed into one of many high interest savings accounts or tax free cash ISAs.

© Fair Investment Company Ltd

Written by Editorial Team