According to the US Department of Agriculture, an average family of four spends around $254 on groceries per month. A rise in the budget is likely with the post-COVID-19 harsh economic conditions. Climate change has also made food production a difficult task. Thus, food prices are skyrocketing every day. Yet, families can still get their grocery shopping on a budget. Below, we explore how to save money when budgeting for groceries.
How Much Should I Budget for Groceries Each Week?
Grocery shopping is a very personalized activity. How much one person spends on grocery weekly varies based on various factors. Some people prefer organic choices, while others are on restrictive gluten-free diets.
Budget totals also vary by household size, age, and the inclusion of non-food items. It can be challenging to determine how much you should spend on groceries. Your receipts and credit card history can help you establish an average amount based on your household’s combined income.
10 Tips for Saving Money at the Grocery Store
If you’re looking for ways to make your money last longer while grocery shopping, take note of the tips we’ll be sharing below:
- 1) Increase Your Income
Financial experts say that making more is the best way to save money. With technology, you can create passive income streams in several ways. One is by using applications such as Pawns.app to make extra money online.
Pawns.app allows users to earn extra cash by sharing their excess bandwidth with companies that use it to operate their businesses. The secure app works irrespective of location. All you need to do is create a free account, install the app, and then run it on your device to share your connection. You can also take part in online surveys and receive payment from them.
- 2) Stick to a Checklist
Generate a grocery list based on your meal plan before you head to the store and stick to it. Shopping without a checklist is one of the main reasons we overspend at the grocery store. Determine how much you intend to spend on every item. You can bring a calculator, if need be, to avoid overspending.
- 3) Look Beyond Eye-Level Shelves
Retail stores tend to reserve eye-level shelves for the most profitable products. These products are costly. They receive more attention and are within reach, tricking shoppers into purchasing them. Unknown to many is that many stretch-level and stoop-level shelves contain cheaper alternatives.
- 4) Buy In-Season Products
Nothing beats food prepared out of fresh and natural ingredients. Imagine enjoying such meals and saving money. A dream come true, right? In-season produce are products purchased and consumed around the time of harvesting. Availability of these seasonal products triggers the supply-demand-price effect to the shoppers’ advantage. So, look out for the in-season ingredients in your area before heading to the grocery store.
- 5) Go for Generic Items
Generic items are brands that have yet to receive recognition from the masses. Top brands charge for their branding and advertising costs which make them costly. Opting for new entrants can save you a few dollars.
- 6) Avoid Online Grocery Stores
Convenience aside, online shopping can be more expensive than in-person shopping. Sometimes, small quantities and portions may not be available, leading you to unplanned bulk purchasing. The involvement of third parties to fulfill orders also adds shipping costs to your bill. So, you better stay away from those flashy online stores if you want to save some money.
- 7) Buy Whole Produce
Pre-chopped and pre-grinded fruits and vegetables cost more than buying them whole. Yes, you will have to invest more time in the kitchen, but it will save you cash. Conversely, you could invite your favorite person to help with the meal prep, and you’ll have fun while at it.
- 8) Look Out for Clearance Sales
Retailers usually stock up during festive seasons, weekends, and paycheck weeks. During these times, prices shoot, and staying away from the stores is a good idea. The jackpot follows soon after; the clearance sales season. That allows for bulk buying cheaper and stocking up for later days.
- 9) Scout for Cheaper Stores
Scouting works best when you have the luxury of time and have access to several stores in your location. Compare prices and buy items where they are cheaper.
- 10) Calculate the Unit Prices
Sometimes the largest packaging is not the cheapest. Bulk buying thus requires a little caution and calculation. Knowing the unit prices ensures that the price per unit is less in the large package than in the smaller one.
Wrap Up
Sounds too rigid, right? Well, it is not as difficult as it sounds. Committing a certain percentage of your income cultivates money discipline. Groceries are the second most costly expense in every household after the roof over your head. But you do not need to break the bank or scrap off your savings plan to feed your loved ones a healthy meal. When shopping, try incorporating some of the habits listed above. Before you notice, you’ll see how your money lasts longer while being financially conscious.
Also, remember that increasing your income is the surest way to save money. Pawns.app gives you an opportunity to do exactly that by sharing your unused bandwidth or by filling out surveys. Consider working with this app to bolster your income and livelihood.
FAQ
How Do I Set up a Grocery Budget?
To formulate a grocery budget that favors your saving plan, you need to consider several things. For example, you should first look at how much you have spent in the past few months. After this, compare that against your income and financial goals and adjust your budget accordingly.
Before shopping for groceries, consider making a list of remainders in the pantry to avoid unnecessary purchases, and be sure to break down your monthly supply into weeks to help you better track your budget. Meal planning can help you identify what to buy and when. Finally, allocate groceries as a percentage of your income.
