1. What system do you guys use to manage/cook food? It pains me inside every time I throw away some food in the fridge because I leave it there too long. Also, I find myself eating out too often, part of it in a habit in the past out of not knowing how to cook well.
First, I live alone, not sure what your situation is. I cook something new about 3 times per week. For dinner, I add a salad to either the freshly cooked or the leftover item. With the exception of broiled salmon, the rest of the week, I feed off of the leftovers. For work, 3 times per week I bring in some leftover whatever (say, a piece of meatloaf plus a vegetable...), once per week have PB&jelly (stored at work) plus a "side vegetable" which I bring with me, and once per week takeout. I keep track of how old cooked meat is. After day 3, I fold it in foil and place it in a freezer bag in the freezer (nothing wasted). Every so often, I live "out of the freezer" to use up my frozen stuff.
I shop for meat and produce about once per week at an independent store (cheaper than grocery chains). I buy extra when the discount is deep and freeze it. Non-perishables as needed (Target or Walmart Neighborhood Market). Raw meat that I will not use within 2 days I freeze. I defrost in the refrigerator 2-3 days before cooking. Salmon (individually wrapped) is partially defrosted in cold water for 20 mins, marinated, then can be broiled anytime within 48 hours.
2. Some of the advice on this website is confusing. I am confused on when to delete loans, aren't they good for your credit rating? And if you have loans at low interest isn't it better to make higher interest investments that pay out more and make the minimum payment on loans? And about how much is a good idea to put into the emergency fund?
The answer to this questions depends on how disciplined you are and how sophisticated you want to be. If you tend to not be disciplined, the best policy is just pay off all loans. If you want to be sophisticated, loans with very low rates (say less than 2%) can be held assuming you are investing the equivalent (theoretically earning the spread between the loan interest rate and the after tax rate of return on the investment). If you do this, keep an "apples to apples" comparison on the risk level. Comparing a 2% loan rate to a theoretical 12% return in the stock market is not valid, because the risk level is not the same. Paying off the loan is a guaranteed 2%, versus the theoretical 12% return on the stock market (could end up being negative!).
As far as credit score: I wouldn't focus on it. Just keep it around 740 or higher. You can get it/maintain it at that level with rewards credit cards alone. If you are not there, just keep paying on time, you will get there.
As far as size of emergency fund: It depends on your situation. If you are a dual income household, there is less of a need than if you are a single income household. The standard answer is 3 to six months of expenses (what you could live on if you lost your job, not including non-essentials like vacations and eating out). How quickly do you think you could replace your job? I would say 3 months to one year of expenses.
