As we know, the average Australian household wastes up to $2,500* in food per year. By reducing food waste, you can ease the pressure on your household budget and make the most of your hard-earned money.

But every household is unique, so food and money waste looks different depending on your circumstances. And while each person has their own challenges for staying on top of grocery spending, they also have their own opportunities for cutting costs and saving waste. Read on to find out how you could make some quick savings wins for your lifestyle.

Tips for singles

1. Cook in batches and freeze portions

This helps save time and ensures you have home-cooked meals ready, reducing the temptation to eat out or order in. Aim to prepare large portions of soups, stews, casseroles, or pasta dishes – then divide them into individual servings and freeze for later use.

2. Audit your eating habits

Review how much you spend on cooking vs eating out or ordering in. Then set a realistic goal of how much you could save if you were to make small adjustments. 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.

3. Cook socially when you can

If you’re single but living in a share house, try pencilling in a regular night to share a meal or batch cook together. You could even do this with friends who live nearby. Everyone contributes in some way – it could be helping out directly with the cost, or providing ingredients. This keeps it fun, accountable, and can help all of you to save time and reduce food waste.

Tips for families

1. Plan your meals together

Meal planning helps you avoid impulse purchases, and buy only what you need. Try sitting down as a family to plan your meals for the week. Then, create a shopping list based on your meal plan. Have a crack at including everyone’s favourite meals, to get the whole family on board with the plan. Themed nights, like Taco Tuesday or Pasta Friday, can go down a treat when it comes to rallying the team.

2. Have a savings strategy

Establishing good saving habits as a family can be challenging, especially with rising costs. A Suncorp Bank Growth Saver account can help you to build a consistent savings routine – and might help incentivise reducing your food waste – by rewarding 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

Tips for couples

1. Cook at home more often

As a couple you might find yourselves with a more active social calendar, dining out or ordering in more frequently. But cooking at home is generally cheaper and healthier. And even just a little bit of downtime can be used to set yourself up for whenever you really are too busy to cook. Try preparing meals in bulk and freezing portions for future use. And if you’re not already cooking together – or taking turns – why not give it a try and see if it evens out the load?

2. Monitor and adjust your grocery budget

Regularly reviewing your spending helps you stay on track and make adjustments. Keep track of your grocery expenses each month, and look for where you can make more cost-effective choices. Budgeting apps or spreadsheets can keep you keep detailed records and identify spending patterns.

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, and everyday spending. Here's a handy tip: when payday rolls around, use Internet Banking or the Suncorp Bank App to set up automatic transfers into your sub-accounts. It’s a simple way to keep on top of your budgeting by taking some of the admin burden off you.

Discover Suncorp Bank’s Everyday Accounts

Ready to give these tips a go? You might be surprised how much you can save. Less money in the bin from food waste, means more for the things that matter – and over time, that might add up to a family trip, a romantic getaway, or an adventure with friends.

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.

*Source: FIAL (2021). National Food Waste Strategy Feasibility Study Reducing Australia's Food Waste by half by 2030 (fial.com.au)

^#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.