Newsletter Spring 2018

What do you like about saving at the credit unino? "Going to the treasure chest." - Maddie Coker, "Watching my money grow." - Braylon Coker ; It's never too early to start! Ask the experts at Palmetto First Federal Credit Union

Are Meal Delivery Services Really Worth the Money?

With almost $5 billion in sales in 2017 alone, it’s safe to say meal delivery services are catching on. If you haven’t sampled the savory selections from companies like Blue Apron, Hello Fresh, or Home Chef already, you’ve probably seen more than a few of their sponsored ads pop up in your social media feeds. You may even know someone who uses the services for themselves. While these chef-designed, pre-packaged meals can be a phenomenal way to try new recipes, are they a solid choice for stretching your grocery budget?

According to a recent Morning Consult poll, 59% of survey respondents listed high costs as their main concerns. But with projections suggesting the meal-delivery industry could become a multi-billion dollar market by 2022, it seems like plenty of consumers are still willing to jump on the meal delivery bandwagon. The widespread appeal appears to be based on a variety of factors other than monetary savings.

Costs can be measured in more than money. Meal delivery services enjoy the highest popularity among millennials and individuals earning more than $100,000 a year, particularly those living in cities. These results point to the fact that busy people appear to value time savings and food quality as much as, if not more than, financial savings.

Time Cost.There’s no denying that it takes time to plan your meals, create a grocery list, and actually shop for the food. By creating recipes and sending all the ingredients right to your door, companies like Blue Apron and Hello Fresh can save you the time you’d normally spend on planning and shopping. The busier you are, the more valuable this service becomes.

Quality of Ingredients.If saving money on your groceries is your main goal, it’s easy to reduce costs by buying low-quality food. Unfortunately, this strategy usually leaves you with an abundance of processed foods that lack nutrition and flavor. The most popular meal prep services rely on culinary chefs to design meals that combine high- quality ingredients to create a meal healthy and delicious.

Financial Expense.With the most popular 2-person meal plans starting at $60 per week for 3 meal kits, the cost averages $10 per meal. While you can certainly spend less shopping for yourself, these options are considerably less expensive than the average meal at a restaurant. So, if your busy schedule leaves you dining out on a regular basis, meal delivery services may provide financial savings after all.

What kind of savings do these services actually deliver? There’s no denying the growing demand for meal delivery services like Purple Carrot, Green Chef, and Blue Apron. The fact that retail giants like Amazon and Walmart are scrambling to
be part of the meal kit market only serves to con rm the rising popularity.

As you try to decide whether one of these services is the right solution for you, the value depends on your expectations. If you’re looking to spend less than you would by planning your own meals and shopping for yourself, you’ll probably be disappointed. But if you view these services as a time-saving bridge between home- cooked meals and going out to eat at restaurants, the value is much easier to see.

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In Sympathy

The Board and Sta of Palmetto First Federal Credit Union, along with our members, would like to extend heartfelt sympathy to the friends and families of…

Eugene Jackson

…all valued members of your family and ours.

We regret that our updated system no longer notifies us of a member’s passing. We appreciate your assistance in bringing the names of those who have passed to our attention.

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