Despite Ben Bernanke’s assurances that the nation is not headed for a recession, many people are still worried about their financial future. Wholesale prices for raw materials, including food and fuel, continue to rise, which ultimately means higher prices for future consumers. The USDA’s chief economist reported that food prices rose 4 percent last year and will rise another 3 to 4 percent this year. Smithfield Foods, the world’s largest pork producer, says the costs of raising pigs have increased by more than 20 percent in the past year, largely due to the rising cost of feed. Meat eaters can expect to foot the bill by paying higher prices for pork.
If you don’t want to spend your retirement fund on food, consider investing in a vegan diet.
Some of the most diverse plant foods — including beans, rice, vegetables, soy products, and pasta — cost relatively little compared to animal products. According to a 2007 MSN MoneyCentral article, the cheapest cuts of beef, such as ground round, average $3 per pound; Boneless chicken breast costs $3.40 a pound. And canned tuna costs about $2 a pound. In comparison, dried beans and lentils cost less than $1 per pound, and rice is less than $1 per pound. Tofu usually costs less than $2 a pound. Even vegans who buy more expensive products like soy sausage and non-dairy ice cream can still spend less than people who buy beef, chicken and fish.
Cows, chickens, pigs, and other farmed animals feed on more than 70 percent of the grain grown in the United States, but it’s more efficient and economical to eat the grain and soybeans—and all the foods that can be made from them—directly rather than passing them through farm animals. A 2002 E magazine article estimated that the amount of feed needed to produce one 8-ounce steak would fill 45 to 50 pots with cooked grain cereal.
And if you regularly eat animal products that are full of fat and cholesterol, you could eventually land yourself in the hospital, racking up enough medical bills to put you in a hospice. America’s Agency for Healthcare Research and Quality ranked the 10 most expensive medical conditions, and many of the diseases that top the list — heart disease, cancer, high blood pressure, and type 2 diabetes — are caused or exacerbated by eating animal products. A double cheeseburger from the dollar menu won’t seem like a good value when you’re paying through the nose for blood pressure pills or bypass surgery.
If you factor in all the money you’ll save on hospital bills, medications, and weight-loss plans by avoiding unhealthy, artery-clogging animal products, a vegan diet is quite economical. Health insurers in the UK and the Netherlands offer discounted rates for vegans, and US health insurers are beginning to encourage customers to make lifestyle changes to reduce their risk of chronic disease. “The connection between a plant-based diet and reduced costs for these high-impact health conditions is clear as a bell,” says Scott Forslund, director of communications for Primera Blue Cross.
Plus, if you’re a vegetarian, you don’t need to feel guilty about not shelling out the money for an environmentally correct hybrid car — switching to a plant-based diet is more effective against global warming than switching from a regular car to a Prius, researchers report. Of course, the most significant savings of all can’t be measured in dollars — being vegan saves more than 100 animals each year. So if you want to save animals, your health, the environment, and your money, go for a vegan diet.