The following is a post by MPFJ staff writer, Derek Sall. Derek is the owner of the blog, LifeAndMyFinances.com, where he teaches people how to get out of debt, save money, and become wealthy.
When you think about saving money from month to month, you might initially think about your fuel bill or your cable bill, but these are probably not the areas where you can save the most money.
More often than not, the grocery bill is largely out of whack, and hundreds of dollars can be saved just by making a few tweaks to your food spending habits.
1) Avoid the “high class” grocery stores and discover the discount grocery stores
I used to do my grocery shopping at “high class” grocery stores that offered free popcorn and free coffee during the delightful shopping experience. While the experience was often a delight, I was certainly paying extra for these amenities.
When I started taking a closer look at my budget and saw all the money I was spending on my groceries, I figured there was a better way to buy my food. Low and behold, I was right! Instead of heading to the high class grocery store, I discovered places like Aldi and Save-A-Lot where I didn’t need coupons, but was finding groceries for an even cheaper price than Walmart! Also, since these stores are quite small, grocery shopping is unbelievably fast. This a huge perk for me and anyone else that doesn’t like to spend an hour in the grocery store. Instead, I spend 10 minutes. It certainly is a delight!
2) Buy in Bulk
If you are consistently purchasing the same types of non-perishable goods each week (like granola bars and cereal for instance), then you might want to consider buying these items in bulk. When you purchase three or more of a product at a time, start looking into purchasing these products from a large bulk store and run a price comparison to your per-item purchases. If the savings are severe (which is often the case), then you might want to buy 4-6 months’ worth at a time.
3) Pay Attention to Sales Patterns
The corporate headquarters are often in charge of scheduling the sales on various grocery products. Incidentally, a pattern typically forms around these sales – often 7-8 weeks at a time. When you see a sale on a product that you typically purchase, take note and keep your eye out for when that product goes on sale again. By nailing down the “sale cycle” you can be sure not to pay full price for your products ever again!
4) Eliminate Waste
The average American wastes about 25% of all the food that they purchase. So, if they spend $4,000 a year on groceries, that means they are typically throwing away $1,000 worth of food each year! By avoiding waste, you could save an immediate 25% on your grocery bill.
This savings starts out with a list. Plan out your meals each week and only purchase what is necessary for those meals. In the event of constant left-overs, designate one of the nights as “left-over night” and eat only what is already pre-made and in the fridge. With these methods, your fridge and pantries should stay fairly empty and will allow you to eliminate almost all of your waste.
5) Avoid All Restaurants
There are quite a few people that make life so busy for themselves that they start heading to restaurants instead of making a meal themselves. If you’re paying $12 for a meal at a sit-down restaurant, this can quickly blow your grocery budget. Even if you are driving through McDonald’s and spending just $5, you are still spending too much. There are quite a few simple, healthy meals that will only cost you $0.50 per meal or less if you put them together yourself. Heck, I just grilled up 9 pieces of fresh chicken that I bought for $11. This one cooking session will last me the entire week!
How about you all? Are you going to make any changes to save more money on groceries?
Share your experiences by commenting below!
***Photo courtesy of https://www.flickr.com/photos/jlarnos/8200880966/in/
