How to Save A Lot of Money on Groceries
Posted by Henry Baum on November 24, 2008
Having to skimp on groceries is one thing that hits people where it hurts. Food you need to stay alive, whereas if you’re cutting your clothing budget it’s not quite as dramatic. At least that’s how it is for me: I buy a pair of pants a year, but I go to the grocery store every week.
In this day and age, groceries are getting more expensive. Though gas prices are fluctuating, the cost of groceries is still going up in relation to people’s incomes. That’s the bad news. The good news is this: the grocery store is a scam. Let me explain, grocery chains are woefully overpriced, just as the cost of eating out is overpriced. There are bargains to be had at the grocery store if you know where to look.
1. Come to the grocery store with a specific list. This will help you come within a budget. The grocery list isn’t just to help you remember, but to help you buy things you don’t need.
2. Plan your menus for the week – this means every meal. Buying a donut here/there doesn’t seem expensive, but it will really add up. All convenience food is overpriced, remember that. Prepared snacks, if you must, will save you money.
3. Buy generic. There is no overt difference between generic and brand name, nor is their shame. Especially now – in the past generic goods had the quality of government cheese, but today’s generic goods are just fine. Use your store card, and bargain shopping between store brand savings can save you money as well.
4. Don’t use coupons. I say that with a caveat – some coupons are good, so don’t avoid them altogether. Buy one get one free can be good. But coupons are often just a way for you to pay less for something that costs too much in the first place. 20 cents off Lunchables is a waste of money. Actually any price spent on Lunchables is a waste of money.
5. Don’t bulk shop. Some may think the opposite is true. I’ve heard arguments that you should always buy in bulk if there are real savings. For instance, you might buy six ketchup bottles to save an extraordinary amount on the per-bottle cost. The problem is: how much ketchup do you use? You’re going to have ketchup for years, unless you have some way to sell ketchup to your friends and neighbors. In short, buy what you need. Now, if it’s something you use a lot of, then go for it, but don’t buy in bulk just for the sake of it.
6. Check the portions of individual products. Buying in bulk for an individual can is different than buying crates of food. Buying one large can of baked beans, say, could save you money on buying smaller cans. It depends on the brand – and yes sometimes you will have to sacrifice taste for savings.
7. Never buy frozen dinners, ever. Frozen vegetables, however, are cheaper than fresh and not all that bad.
8. Don’t buy soda or candy either. Nope, I’m not saying this is fun, but if you’ve got a sweet tooth you can make cookies/brownies/what have you from scratch and it will be a lot cheaper.
9. As mentioned, eating out is a scam. Even McDonald’s. If not especially McDonald’s.
10. Leftovers should be a way of life. But so should small portions that don’t lead to leftovers. Depends on the meal – but cooking in bulk for the week, if you intend to eat it, can save you money.
Put that all together and it’s possible to save hundreds of dollars on food costs a month. You can try a place like CoolSavings.com for coupons, but I’m telling you – generic goods in the right portions will save you more money than a coupon of a name-brand product. Not all the time, but often.
thepennypincher said
I agree with what you have written. With the exception of buying in bulk. My wife and I buy in bulk that produce that we use daily or weekly and we know will not go while. We save by buying cooking oil in bulk and rice in bulk. We buy sugar in 10kg bags instead of 1kg bags as we will go through the sugar in a couple of months.
You are right on the money with regards to avoiding soda. What people overlook is the quantity of sugar in your average can of pop: often you will have the equivalent of 10, 15 or more teaspoons of sugar in each can.
As for eating out, it is fascinating how people try to convince themselves that eating out is cheaper. They often add in the cost of their “time” to make the case for it. However, they forget that they won’t be paid to go eat at a restaurant either. It takes me quite often 10-15 minutes to prepare one meal with a slow cooker and I will be set with a few meals with leftovers.
moneyhank said
Awesome comment. Thanks for writing. I agree with you about bulk, I just wanted to warn people against buying bulk for bulk’s sake. Buying toilet paper in bulk obviously makes a lot of sense, but if you buy something that takes three years to use, I believe there are times where it’s better to keep the extra money in the short term to possibly pay off something else, like debt.