The Food Choices That Helped Me Get Out of Credit Card Debt
One night during the last recession, I got a wake-up call. I’d been outspending our earnings, and it had finally caught up with me. I’m not sure how I got there, but I opened my eyes and smelled the debt. All $18,000 of it.
Over the next 18 months, in the midst of a down economy, my husband and I threw every last penny at our consumer debt and climbed out of the proverbial hole. It wasn’t like we had a huge income shovel to do it with; I was a stay-at-home mom of six kids.
What we lacked in big paychecks, we made up for in creative thinking and hard work to stretch that one income and build a side hustle.
Here are some of the food choices that helped us do it.
1. We lived off the pantry.
For the first month or two while the shock subsided, I did what is now known as a Pantry Challenge. There was plenty of food in the cupboard and freezer — of course there was, I was charging our groceries! So, we started eating it.
Instead of buying more just because I wanted it, I looked at what I had and worked out meals from it, like a real-life game of Chopped.
Sure, I bought milk and fresh vegetables, but for a solid month and more, we focused on using what we had, which allowed us to send would-be grocery money toward paying off bills.
2. We made a grocery budget.
It took some trial and error, but after a time I was able to create a food budget that was both realistic and sustainable. Over time, sticking to that budget helped us reach our goal of getting out of debt and go on to build savings.
3. We limited meals out.
Everyone knows that restaurant meals are more expensive. You pay for convenience and the experience.
It takes work and planning, but you can eat more cheaply by cooking at home. We rarely ate meals out, and when we did it was the dollar menu and free water cups that got us a decent meal when away from home.
4. We ate lots of beans and rice.
While perhaps not the most exciting of meals, beans and rice or some other bean-based dish became our go-tos. Burrito bowls with lots of toppings, bean tostadas, bean burritos, and chili were regular features on my menu.
I lost 15 pounds during the first six months, so all those carbs didn’t do me any harm! Ha! Bean tostadas still make my kids do a happy dance, so it wasn’t all bad.
Bean and Rice Recipes
5. I clipped coupons.
In 2007 and 2008, during the height of the coupon craze, clipping coupons was a great way to make ends meet.
Since I had more time than money, I was able to keep our grocery budget in check by spending a few hours each week clipping coupons and searching for sales to stack with them. At one point I was saving $25 per hour through my couponing efforts.
6. We learned to appreciate what we had.
Perhaps the most important strategy in our battle with debt was realizing that we didn’t really need a lot to be happy.
Wine and beer became luxuries, but it wasn’t a big deal. In fact, we appreciated the very occasional drink all the more for its preciousness. Family dinners were more focused on being together and conquering hard things than worrying about getting the meal just perfect.
Over time, we paid the last bit of debt, built an emergency fund, and started enjoying more dinners out. While beans and rice aren’t on the menu every night and I very rarely order from the dollar menu, many of these strategies are still my faves. I do a yearly pantry challenge, stick to a firm grocery budget, and know a good thing when I have it.
Did you have or are you in credit card debt? What have you done (or are you doing) to get out of it? Share your tips in the comments below.