All of us want to save money without compromising the quality of the food we buy.
The cost of food is constantly rising, so all families need to learn how to shop on a tight budget. Smart strategies can have a significant impact on your financial health.
This guide will help you how to save money on groceries by implementing strategies to stretch your budget and still maintain good nutrition.
What should you budget for groceries?
The USDA’s Cost of Food report for October 2022 shows that a single person can spend anywhere between $250 and $400 per month, depending on their age. Meanwhile, the latest U.S. Bureau of Labor Statistics data shows that the average American household spends
Ideally, grocery costs should be between 10% and 15% of your income. Consider allocating 30% of your budget to vegetables, 20% to protein, 15% to grains, 15% to dairy, 10% to snacks and 10% to miscellaneous. Track your spending for at least a month, and then record all your food-related costs using a spreadsheet or budgeting app. This data can be used to set realistic goals based on income and food preferences.
Plan your meals and cook in batches to reduce food waste and impulse buying. Your budget should be reviewed regularly to make sure it is still applicable to your life.
How to Save Money on Your Groceries?
Here are some simple tips you can make to your weekly food budget.
1. Shop At Discount Stores
Shop at discount stores for essentials to get cheaper prices. Even though the selection may be limited you can still save a lot on essential items. Discount stores sell items at a discount due to lower overhead costs. This allows them to pass savings on to customers.
You can save from 25% to 50% on the original price of an item by buying used. It can be time-consuming to shop at multiple stores. The technique, which helps to avoid price-gouging would be beneficial for budget-conscious shoppers, those on fixed incomes, and households with large numbers of members.
2. Cheaper cuts of meat
You can make meat cheaper by using recipes that call for less expensive cuts of meat, such as eye fillet or chuck. These cheaper cuts require more cooking time but have a great taste.
Look for meat that is cheaper by using minced beef, lamb, veal, veal, or pork. Think about how you can use the chicken drumsticks that supermarkets practically give away.
3. Cheese Please
The cheapest way to enjoy cheddar is by buying it in blocks. You can buy the cheese sliced, grated, or in individual packs, but you can save $5 per kilo by purchasing it in a block. Instead of packaged cheese sticks, get the kids to use blocks or batons in their lunchboxes. Packaging is also reduced.\
4. Flavored yoghurt
You can make your flavoured yogurt by purchasing plain or Greek yoghurt and adding vanilla, icing, apple grated and cinnamon. Or, you can puree frozen fruits like berries, bananas, and mangoes that are already in the freezer. You can let your kids choose the flavours they want, while you decide on the ingredients. Learn to love plain or Greek yogurt – it’s versatile and goes with a variety of meals. It can also be used as a snack.
5. Use Coupons Strategically
Use coupons for products that you buy regularly to receive substantial discounts. Combine coupons and store sales to maximize your savings. Plan your shopping around the promotions you are running and coupons that you have. For convenience, use digital coupons.
You can save about $1,400 per year by using online coupons strategically. Spend 1-2 hours per week finding, collecting, organizing and planning around coupons. Coupon hunting can be very beneficial if you have a big family or purchase a lot of different items.
6. Ugly Vegetables
Choose the cheaper, less-expensive vegetables on sale to save money. The vegetables may look less perfect, but they still taste just as good. Overripe bananas are frequently discounted significantly for banana bread and smoothies. Grab them now. What you don’t need right away can be frozen for later use.
7. Wholegrain cereal
Wholegrain cereal is a much better value than flavoured breakfast cereal. For a fraction of the price, you can get two times as much cereal in the same size box. Wholegrain cereals are also more nutritious and filling. This means that the children (and the rest of the family) can eat less food.
8. Compare unit prices
Comparing unit costs is the most effective way to compare prices, especially when you are comparing different brands and sizes of packages. Unit pricing is also a way to avoid misleading marketing, which offers inferior or lower quality products.
A family of four can save as much as 18% per year by using the unit pricing method. When shopping, pay attention to the details. This is a great approach for budget-conscious consumers and those who purchase items in different quantities.
9. Create your marinades
The price of meat that is already marinated will be higher than the cost of plain meat.
You can save money by making your own marinades and you will be able to control the amount of sugar and salt. Our homemade marinade recipes are simple, yet full of flavour.
10. Replace meat with vegetarian alternatives
You can save money by cutting out meat from at least one meal per week. Start with Bean Qusadillas. It’s important to make sure the meal is filling and tasty so that kids won’t miss out on the meat.
11. Make your muesli bars, snacks and other treats
Rolling oats can be found for almost nothing, so making your muesli bar is an easy way to reduce packaging and save money. Most snack foods for the lunchbox are cheaper to make and can be frozen.
12. Home Brands
You can save money by using the home brand of your supermarket for standard items like flour, sugar and pantry staples. To ensure that the product won’t change your cooking or taste, try it out in small quantities first. Savings can add up quickly over the year.
13. Soft drinks and juices
The juice is a waste of money. It’s expensive, full of sugar and has little fibre. Soft drinks are cheap, but they’re not good for you or your teeth. Keep them for special occasions. Eat whole fruit and drink milk and water. You’ll thank your teeth and sugar levels.
14. Buy generic brands
The supermarkets place expensive, name-brand products at eye level, which may tempt you to buy more expensive items. If you look on the top and bottom shelves, you will often find cheaper generic brands that taste the same as the store-owned brand. Save money by choosing generic brands next time you shop.
15. Bulk purchases are cheaper
Compare the prices of smaller bottles of oil with large metal canisters.
How much do people spend on groceries each month?
Let’s now talk about the average amount people spend on this line of their budget. The average cost of monthly groceries varies from $249 up to $313 for an adult. When it comes to a household of four, their average monthly grocery bill amounts to $985.
You may find these averages to be low, right on target or outrageously high. Many factors are involved, such as where you live and any dietary restrictions you may have. You can save money by being more deliberate.
Reasons to spend less on groceries
If you keep a monthly budget, you’ll find that spending less on groceries frees up dollars for other areas to which you devote money, whether it’s debt repayment, your emergency savings, or your entertainment fund.
A good motivator to decrease your grocery spending can be rewarding yourself for a job well done. This can be as small as an occasional trip to the gourmet coffee shop or as large as taking your accumulated savings over time and devoting it to a vacation.
Bottom line
A little preparation can go a long way when you’re looking to save money on groceries. It often starts with planning your meals and creating a shopping list. Knowing in advance exactly what you need to buy can save you from wasting money and food by purchasing items you ultimately won’t eat.
These tips will help you with all aspects of your food purchase, from preplanning to smart shopping habits. These methods will help you save money on groceries while still maintaining a healthy diet and a fully stocked kitchen.
