Money-and-Budgeting-Educational-Presentation-in-a-Blue-Bold-Style-1.pdf

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1. Costing and
Budgeting for
Meals
FSM 2 Meal Management

2. Learning Stages
Be able to compare
ingredient costs and
identify the most
economical source.
Be able to understand
the various ways in which
food money can be saved.
Be able to understand
how to cost a recipe.

3. What is a budget?
A budget is a financial plan that
outlines expected income and
expenses over a specific period. It
helps individuals, households,
businesses, or organizations
allocate resources effectively to
meet financial goals and avoid
overspending.
What is a
budgeting?
Budgeting is the process of creating and
managing a budget. It involves estimating
income, planning expenses, tracking
spending, and making adjustments to
ensure financial stability and efficiency.
In meal management, budgeting helps
allocate money for groceries, meal
preparation, and dining while ensuring
cost-effective and nutritious choices.

4. Budgeting is a crucial part
of meal management
because it helps ensure
that meals are nutritious,
cost-effective, and well-
planned.
Why budgeting is part
of meal management?

5. Here’s why budgeting is
important in meal
management:

6. 1. Prevents Overspending
- A budget helps control food expenses and prevents impulse buying.
2. Encourages Smart Shopping
- It allows for strategic purchasing, such as buying in bulk, choosing seasonal
produce, or taking advantage of discounts.
3. Ensures Nutritional Balance
- A well-planned budget helps prioritize healthy and balanced meals rather
than relying on cheap but unhealthy options.

7. 4. Reduces Food Waste
- By budgeting and planning meals ahead, you only buy what is necessary, minimizing
waste.
5. Supports Meal Prepping
– Budgeting ensures you have the ingredients needed for planned meals, making meal
prep more efficient.
6. Accommodates Special Diets
– If you have dietary restrictions, a budget helps you allocate funds for specific
ingredients.
7. Provides Financial Stability
– Managing food expenses within a set budget helps maintain overall financial health.

8. Plan Ahead

9. Plan Ahead
Work out how much you’ve got to spend on food in a week.
Be realistic.
Cooking your own food is cheaper than buying it ready-
prepared.
Check what cooking equipment you’ve got.
Plan your shopping before you go – make a shopping list.

10. Plan Ahead
Try to buy only what you need – or you might throw
food away.
Share the cost of large items with flatmates or friends.
Cooking in larger quantities can help money to go further.
Why not cook together, or cook a larger portion and
freeze a batch of food.

11. Buy basics
and be smart

12. Look out for foods that have a long shelf-life, like pasta,
rice and noodles. These can form the basis of lots of
meals and are cheap to buy. Go for different cuts of
meat, e.g. chicken legs are cheaper than breast
Go for different cuts of meat, e.g. chicken legs are
cheaper than breast

13. Get frozen vegetables so you can use what you want and
store the rest.
Long life 100% fruit juice is cheaper than freshly
squeezed.
It's much cheaper to buy basic ingredients and make
your own meals.

14. Price Wise
Compare prices.
Your local greengrocer or market might have some special offers and bargains.
Buy supermarkets own brands and economy ranges, e.g. canned tomatoes,
sweetcorn.
Shop seasonally - it is cheaper to buy fruit and vegetables grown in season
around the UK.

15. 5p off, 50% free!!!
Special offers are great, but don't buy food just because it's
on offer - you might not use it. Look out for 3 for 2, money
off or x% extra deals.
Check that you can store these for when you need them.
Keep your eyes peeled for offers late in the day, often
supermarkets reduce their prices.

16. Cook from scratch - it will save you money.
Cook large quantities of some recipes and freeze batches for
another time, e.g. Chilli, Stew, Curry, Lasagne, Pasta dishes.
Make recipes go further by adding beans, pulses or seasonal
vegetables to your cooking, e.g. Shepherd's pie, Spaghetti
Bolognese, Stir-fry, Pie fillings
Cook, Eat, Freeze!

17. Ensure that your meals are based on starchy foods, such as
rice, pasta, potatoes and bread - these help you to have a
balanced diet, plus are good value.
Grate cheese to make it go further.
Save leftovers for another meal - but make sure you store it
properly.
Freeze, Heat, Eat!

18. Food Costing

19. Food costing is the process of calculating the
total expenses involved in purchasing ingredients
to prepare meals. It helps individuals, families,
and businesses (like restaurants or catering
services) manage their budget and control food-
related expenses efficiently.

20. Food costing is the process of calculating the
total expenses involved in purchasing ingredients
to prepare meals. It helps individuals, families,
and businesses (like restaurants or catering
services) manage their budget and control food-
related expenses efficiently.

21. Why is Food Costing Important?
Budget Management – Helps in planning meals within a set
budget.
1.
Cost Control – Prevents overspending and minimizes food waste.2.
Pricing Strategy – For restaurants, it ensures proper pricing of
menu items to maintain profitability.
3.
Nutritional Planning – Ensures a balanced diet while staying
within budget.
4.

22. Types of Food Costing
Per Meal Costing – Calculates the cost of a single meal.
Daily Costing – Estimates the cost of food consumed in a
day.
Weekly/Monthly Costing – Helps with long-term budget
planning.
Recipe Costing – Determines the cost of a specific dish
(useful for restaurants).

23. Formula

24. Per Meal Costing (Cost of a Single Meal)

25. Daily Food Costing (Cost for a Full Day’s
Meals)

26. Weekly Food Costing (Total Grocery Budget
for 1 Week)

27. Recipe Costing (Cost of a Specific Dish)

29. Conclusion
Food costing helps manage budgets effectively, whether for a
single meal, a full day, or an entire week.
Restaurants use recipe costing to set menu prices, while
families use weekly or daily costing for grocery planning.
Adjusting ingredients (e.g., using more vegetables and less
meat) can help lower costs while keeping meals nutritious.

30. Thanks for
listening!