Many people follow plant-based eating for its health benefits, but rising living costs might have you wondering whether making the switch would help your money stretch further too. We’ve crunched some numbers to find the answer.
If shopping for food causes you financial angst, you’re far from alone. More than a third of Australians say it’s the rising cost of groceries that’s having the biggest impact on their household budget, and 25 per cent of New Zealanders say paying for groceries is currently their greatest financial concern. That’s not surprising when you consider the average Australian household spends roughly $200 a week on groceries, up 17 per cent from two years ago. It’s a similar story in New Zealand, where households spend an average of $238 per week on food, a 9 per cent increase compared to a year ago. As a result, more than 60 per cent of adults say they’re cutting back on meat to try and save money, and many are avoiding dairy foods for the same reason. But is it an effective tactic? And if it is, how can you make going plant-based work for both your bank balance and your wellbeing?
So are plant-based diets cheaper? The short answer is yes, they certainly can be. A study published at the end of 2021 showed that in countries like Australia, vegan diets can reduce food costs by as much as a third, and more recent research suggests costs decrease by at least 16 per cent by going 100 per cent plant-based. Research shows that vegetarian diets, which are still considered plant-based because they avoid most foods of animal origin, can also shave a significant amount off your food bill.
Even flexitarian diets, which incorporate small amounts of meat, can lower your food bill by about 14 per cent. It’s important to note though, that savings are mostly made by buying and eating whole plant-based foods like vegetables, legumes and grains, rather than highly processed plant-based foods, including meat alternatives. Australian consumer group CHOICE flags that when it comes to the latter, plant-based often means pricier.
Make it without meat:
While meat and seafood contain some key micronutrients that are essential for health, their main role in most meals is usually as a source of protein. Fortunately, there are some tasty, protein-rich meat-and-fish-free swaps. And remember, even swapping a percentage of a meal’s meat for a meat-free option can help lower the cost per serve.
References
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