Hey everyone! For today’s post, I decided to pull a $1000 money hack right out of my 5-Day Email Course, aptly called “5 Money Hacks that will save you $1000 this year”. I labelled this particular hack, “The Cheerios Conundrum”. If you enjoy it, and are interested in receiving all 5 money hacks via email, I’ve included a link at the bottom of the post where you can subscribe. The best part, it’s absolutely free! Without further ado, I present “The Cheerios Conundrum”. Enjoy!
If you have even a couple of kids, you’re keenly aware how quickly your family can burn through the following common food items: boxed cereal, and milk.
But have you considered how expensive they really are?
Recently, a friend of mine shared how solving the “Cheerios Conundrum” saved he and his wife well over $1000 in one year. Here’s the story, in a nutshell:
THE CHEERIOS CONUNDRUM
A few years ago, friends of mine were struggling to make ends meet. They lived very frugally, and stuck to a strict budget. Yet, with a few young kids and a limited income, money was still tight.
In an effort to try and find more room in the budget, they took a closer look at their grocery bill. What they noticed was how often they found themselves running to the store to pick up cereal and milk.
When they added up the boxes of Cheerios and gallons of milk, they realized they were spending over $150 every month on these two items alone! It sounds crazy, but easy to do if you have a large family.
To save money, they decided to substitute oatmeal for boxed cereal. They then taught their older kids how to prepare oats in the morning, and together the whole family made the switch.
While they didn’t stop buying milk outright, the amount they consumed dropped drastically with their shift away from boxed cereal.
In short, this one change saved them well over $1000 year!
BREAKING IT DOWN
Let’s take a closer look at the numbers:
I pulled the following information from the box of Shreddies in the picture below. Don’t ask me why I didn’t use the Cheerios.
Based on a 1 cup serving size (55 grams) , a 550g box of Shreddies contains 10 servings. If you have a family of 4 eating cereal every morning, they would consume 12 boxes of Shreddies every month.
Let’s do the math:
4 servings per day X 30 days = 120 bowls of Shreddies/month.
At 10 servings per box, this translates to buying 12 boxes of Shreddies every month.
Let’s assume a box of Shreddies costs $5 on average. For the family of four, cereal alone will cost over $60/month. Add milk to that, and the cost could easily exceed $100 each month.
Oatmeal, on the other hand, packs a lot more value, not to mention nutritional benefit.
Here’s another illustration, using oatmeal:
I purchased the box of quick oats pictured above for $6.99 at Costco. Using the suggested 30g single serving, this 5 kg box contains enough oats for 166 servings! If the same family of 4 was to replace their daily Shreddies habit with a serving of oatmeal each morning, 1 box of oats would last 41 days, almost a month and a half!
That’s a cost of $5.11 over 30 days for a family of 4, compared to a cost of $60/month for Shreddies, not including the price of milk.
You can prepare oatmeal using milk, but I prefer water. Sometimes, I will pour a very small amount of milk overtop of the oats once prepared, perhaps a few teaspoons worth.
The bottom line: Not only is oatmeal nutritionally superior (high source of protein, fibre, and essential vitamins), but making the switch over from boxed cereal will save you a tonne of money.
For families with children, it’s a money hack that will save you $1000 or more per year!
Is solving “The Cheerios Conundrum” a money hack you’d be willing to try? If so, please send me an email and let me know how it goes!
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