At the recommendation of reader from one of my Cost of Convenience posts, I have been reading the book Make the Bread, Buy the Butter by Jennifer Reese. In it, Reese does many similar cooking experiments where she decides whether it is better to make it yourself or buy it. I was surprised that she put a “make it” recommendation on things like hot dog buns (while hot dogs themselves are “buy it”), lard, and goat cheese. I’d never even considered making any of those things myself.

Was I wrong? Is there right or wrong? Take the example of Smucker’s Uncrustables, which is a factory-made peanut butter and jelly sandwich with the crusts removed (and extra oil, sugar, and preservatives added). There are many articles out there ranting about how this invention must be a sign of the apocalypse. How hard can it be to make a peanut butter and jelly sandwich? Can’t we do anything for ourselves now? I find myself nodding in agreement.

But wait.

A generation or two ago, someone “making” a peanut butter and jelly sandwich actually baked the bread from flour, shelled, roasted, ground up raw peanuts, and preserved excess fresh fruits via canning. Doing all of these things is actually not that hard. Okay, so maybe you bake your own bread, but do you grow the wheat? In the 1930s, 25% of Americans lived on a farm before widespread monoculture, and thus probably grew the flour, peanuts, and fruits on their own land.

So my takeaway was really that we should be open to the possibilities, consider the options carefully, and then each draw our own lines between D-I-Y and B-U-Y. There will always be someone more or less DIY/frugal/green than you. We all have to balance our own time, energy, and beliefs. This book has inspired me to at least try making a few things once. I wonder how my Eggs Benedict with homemade English muffins and hollandaise sauce with turn out.

I hate wasting food, but it still happens to me with fresh fruits and vegetables. I will eat leftovers even if it means eating little bits of four different meals at once. Globally, 1/3rd of the food supply is wasted and uneaten, with the rate even higher at 40% in the US. This is bad all over – financially, hunger-wise, and environmentally. At lot of this involves farming, food processing, supermarkets, and restaurants – but it includes us as well. Here are some good tips about how to reduce our food waste by not throwing it away unless necessary.

Marianne Gravely of the USDA Blog writes about double-checking before tossing food from the freezer or pantry:

Food poisoning bacteria does not grow in the freezer, so no matter how long a food is frozen, it is safe to eat. Foods that have been in the freezer for months may be dry, or may not taste as good, but they will be safe to eat. So if you find a package of ground beef that has been in the freezer more than a few months, don’t throw it out. Use it to make chili or tacos. The seasonings and additional ingredients can make up for loss of flavor.

What about the foods in your pantry? Most shelf-stable foods are safe indefinitely. In fact, canned goods will last for years, as long as the can itself is in good condition (no rust, dents, or swelling). Packaged foods (cereal, pasta, cookies) will be safe past the ‘best by’ date, although they may eventually become stale or develop an off flavor. You’ll know when you open the package if the food has lost quality. Many dates on foods refer to quality, not safety.

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Benjamin Graham is considered the father of stock analysis and value investing, with his books Security Analysis and The Intelligent Investor (first published in 1934 and 1939, but since revised many times) still considered must-reads today. He has many well-known disciples, Warren Buffett being the most famous one. Relatively early in his career, he experienced the Great Depression. I found this quote from his memoirs via The Biz of Life:

The Crash reaffirmed parsimonious viewpoints and habits that had been ingrained in me by the tight financial situation of my early youth but which I had overcome almost completely in the years of success.I blamed myself not so much for my failure to protect myself against the disaster I had been predicting, as for having slipped into an extravagant way of life which I hadn’t the temperament or capacity to enjoy. I quickly convinced myself that the true key to material happiness lay in a modest standard of living which could be achieved with little difficulty under almost all economic conditions.

Security analysis is all about managing risk and keeping a margin of safety. In my mind, Graham realized that a modest standard of living is part of keeping a margin of safety for your personal finances.

Update: Get a free 24-Hour Access Pass to Citi Bike with any Mastercard, which will get you unlimited short bike rentals (less than 30-minutes to avoid overtime fees) within a 24-hour period. Register by 9/30/13, use by 10/31/13.

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Ah, the famous Costco Rotisserie chicken. According to this WaPo series on supermarket rotisserie chickens, Costco sells over 50 million of them a year. You could make an entire cookbook with all the recipes online on how to stretch this bird into multiple meals… quesadillas, salads, soups, sandwiches, and more.

But can you do better on your own? I’m going to tread carefully here because I know the Costco Rotisserie Chicken is beloved by many. I’ve bought my fair share in the past, but these days we prefer to roast whole chickens ourself. Is it worth the extra effort? Does it save money? Let’s take a closer look.

Costco Seasoned Rotisserie Chicken

• Pre-cooked weight: At least 3 lbs, according to Costco.
• Cost: $4.99
• Unit cost: $1.67/lb.
• Ingredients: Whole chicken, water, seasonings (salt, sodium phosphate, modified food starch, potato dextrin, carrageenan, sugar, dextrose, spice extractives).
• Total cooking time including prep: None.

The added ingredient list besides chicken doesn’t look too bad, with no preservatives or artificial flavors. However, I would note that these chickens are “marinated” by injecting them with a saltwater solution with phosphates. That’s how they stay so juicy and tasty inside (and high in sodium). Other supermarket chains like Wegmans don’t do this to their chickens.

Homemade Roast Chicken

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