With regards to expired items, we need to consider it according to the product, the intended use and the actual label. Most product would have a use by date. Any internal cream, any tablets, inject able medications, any prepared meal product, it should not be used after the expiry date.
For instance, if you see cornflakes, there would be date printed. I have personally eaten cornflakes two weeks after the expiry month, nothing happened. But the same risk we cannot take for Jam or Butter. Similarly I would not mind eating biscuits that are a few days after the expiry date but I wouldn't do the same for bread. What I mean is, we have use our common sense and take a call based on the commodity.
At home for items in the medicine cabinet, kitchen shelves, fridge, We can follow a simple policy that hospitals do 'First In, First Out'. This just helps us not the waste too many numbers for items that we stock regularly ( eggs, butter, common medicines like paracetamol, pain killers etc).