A cheap technique based on an open-ended coaxial probe together with a vector network analyzer was set up. The vector network analyzer NanoVNA, a very tiny handheld device, is the affordable component that gives the instrumental chain a cost-effective perspective. The open-ended coaxial probe is a cable with an SMA gold-plated termination. User-friendly programs can be used to calibrate the instrument, carry out the measurements, and save data on PC. Simple liquid solutions (sodium chloride, citric acids, and saccharose) and more complex liquid food (milk, egg products, and fruit juice) were investigated. In addition, the temperature on the electric measurement of milk was measured to evaluate a possible influence for refrigerated storage products. The reflection parameters, such as the real and imaginary parts of S11, were used to build univariate and multivariate models. The best results in terms of coefficient of determination and related error were 0.997 (RMSE 0.05%) for sodium chloride and 0.965 (RMSE 0.71 °Brix) for fruit juice considering the univariate model, and 0.997 (RMSE 0.04%) for sodium chloride and 0.981 (RMSE 4.44%) for yolk using multivariate analysis. The proposed solution is non-destructive, cheap, rapid, and very attractive for potential lab and industrial applications.