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Tightening that belt…
By Molly's Brother | March 17, 2008
I was reading the LA Times on Sunday morning and came across the article “Our daily bread? It costs more” by Jerry Hirsch. In the article, Hirsch talks about how the increase in the price of wheat worldwide has caused an increase in basic wheat-based staples around the world. Pizza is more expensive. Breads are more expensive. Tortillas are more expensive. This increase in wheat prices has jumped 300% in just 12 months. A 50-pound bag of flour cost $12 a year ago. That same 50 lb bag costs $27 today–and experts expect it to hit $30 in a few weeks and $60 by the end of the year.
Gulp.
All of this is interesting. Fascinating to me, actually. The most important facts that I hit me from the article were these: the price of bread and cereal products rose nearly 2% (the largest increase since 1975). Additionally, the cost of eating at home–something that I think it crucial to saving money–has seen a 5% increase “so far this year” (the fastest increase since 1990).
Clearly, it is time to start tightening that belt and increase the amount you are saving. Just as clear to me, the rainy day I have been saving for (metaphorically), is actually here.
Topics: Saving |