Imagine being able to save more money and cut down on food waste without completely overhauling your lifestyle. Sounds great, right? That’s why we’ve teamed up with OzHarvest to help you do exactly that, by taking The Food Savings Challenge – so you can enjoy delicious meals without feeling the financial pinch.

Budgeting is one way to manage your food spend. By carefully considering your needs and shopping strategically, you can enjoy delicious meals without wasting food or money. Let's explore some practical budgeting tips to help you reach your goals.

1. Consider why you’re budgeting

Why do you want to budget? Maybe it's to track your spending better, understand where your money is going, or build financial resilience. Whatever your reason, having a clear goal can keep you motivated.

If you're working towards a savings goal, consider using a Suncorp Bank Growth Saver account, which rewards you with bonus interest every month you grow your net balance by $200 or more (excluding interest) and make no more than one withdrawal.*

Learn more about Suncorp Bank's savings accounts

2. Differentiate between needs and wants

Get clear on what you absolutely need to spend money on versus what’s more of a luxury. Make sure your essentials are covered first, and then set aside some budget for wants without going overboard. This mindset works for grocery shopping too – ask yourself if you really need that extra ingredient, or if you can make do with what’s already in your pantry.

3. Be mindful of waste

Cutting down on food waste is an easy way to save money, because you won’t have to keep buying groceries to replace what you’ve tossed. Store your food properly, choose ingredients you can use across multiple meals, and embrace those leftovers to make your grocery budget go further.

If you’re struggling to stick to your budget, try making your expenses more visible. Suncorp Bank offers an account called the Everyday Options Account which lets you create up to 9 sub-accounts to separate your money for things like groceries, bills, or everyday spending. Plus, you can name your sub-accounts to make it easier to differentiate your accounts. Just make sure you keep an eye on your spend to make it easier to adjust your budget and identify areas where you can cut back.

Discover Suncorp Bank’s Everyday Accounts

4. Create and regularly review a realistic budget

Set up a budget that matches your income and expenses, keeping it realistic and doable. But remember to avoid making it too tight, as that can lead to frustration. Regularly check in and adjust your budget to make sure it still fits your circumstances, goals and any life changes, like a new job or surprise expenses. If you need help, try Suncorp Bank’s online Budget Planner tool – it’s totally free, and a great way to help yourself stay accountable.

Published 17 April 2025

Any representations, views or opinions contained in this article of any expert, specialist or person interviewed (interviewee) are personal to that interviewee and do not reflect those of and are not endorsed by Suncorp Bank, unless expressly stated.

^#Interest is calculated daily and paid at the end of the calendar month. Bonus interest is payable for every calendar month that you grow your net balance by at least $200 and make no more than 1 withdrawal. Interest accrued does not contribute to monthly account balance growth requirement for bonus interest. If bonus interest conditions are not met the standard variable rate only will apply. If you need to make more than one withdrawal, you’ll still receive the base interest rate.