The cost of convenience: Have you added up what you spend on take-away deliveries every month?

Stephen Grootes talks food delivery spend with consumer ninja Wendy Knowler on The Money Show.

Food delivery apps have made getting ready-made meals to your door so easy, and many of us take advantage of this after a hard day's work or just we're in the mood to chill.

However, it’s far more expensive than ordering directly from a store and collecting yourself.

South Africans are not known for their savings culture, and this habit erodes their ability to put aside money for emergencies like a car needing fixing, or a medical procedure not covered by a medical scheme.

During Savings Month in July, Standard Bank took a look at what kinds of things their clients are routinely spending their money on, with the idea that a bit of a tweak could create a new habit of redirecting that money.

The level of food delivery app spending the exercise uncovered is quite an eye-opener, says consumer journo Wendy Knowler.

Some of the findings:

- Standard Bank customers spend an average of R775 a month on takeouts and food delivery from 14 major fast-food franchises. That’s EXCLUDING groceries and supermarket meals.

- Those earning around R60,000 spend over R1,000 monthly, peaking at R1,300 during holidays.

- Lower- to middle-income earners feel the pinch more. Those earning under R20,000 spend about R472, and those earning R25,000 spend R615 a month.

- The average spend rises to R748 for those under earning R60,000.
 
That’s about 2.5% of their disposable income, says Standard Bank's head of Money Management and Advisory, Doret Jooste.

"These groups tend to hold more debt, and frequent low-value purchases can contribute to mid-month cash flow strain. It feels harmless at the time, but the frequency can add up.”

Doret Jooste, Head: Money Management and Advisory - Standard Bank

Cutting takeout spend from R615 to R400 could free up R2,500 a year, Jooste points out.

And invested tax-free at 10% annually, this could grow to over R41,000 in 10 years.

Knowler highlights that our default to convenience also extends to other food spend, like opting for instant oats versus the kind you have to spend a few minutes cooking, and pre-cut and bagged veggies instead of the ones you have to prepare yourself.

We just need to adopt slightly better habits, she says, as this all adds up.

For more detail, listen to the interview audio at the top of the article