Last year I wrote about several of my budget expenses, highlighting the major changes.
This year when I looked for trends, only one category really stuck out and that was food.
The cost of food for my family has increased by an average of 12.08 percent over the last three years.
Keep in mind that my family contains three growing children and I’m sure they are a major part of my increasing food expenses, and I’m not sure how to quantify how much of the 12 percent is due to my growing children.
At this rate of inflation, my food costs will exceed my mortgage payment and become my largest expense in just two years.
This is why I’m planning an even bigger garden this year and expanding the types of foods that I grow. I’m also considering creating a planting schedule, so that I remember when to plant difference foods throughout the summer growing season. I always seem to get confused and forget when I planted what. Then I over plant something or forget to plant something else.
Years ago when I started gardening, it was much easier, I just planted once at the beginning of the summer. But as time went on I realized that different foods grow better at different times of the year and some can be re-planted several times. So this year I'm going to stop trying to remember everything and create a planting schedule.
Food prices are expected to continue to rise, due to an increase in natural disasters and an increase in printing money by central bank all around the world causing inflation.
The trend of food inflation looks like it will continue for many years. Therefore the more food that I can grow the better, perhaps I could even learn to grow more food than I need so that I can barter with it or sell food at a local food co-ops or farmer market.
Food prices have already become a major budget item for my family regardless of the bogus inflation numbers published by the government.