Regardless of its frequency and volume, groceries are always bound to take a large chunk from your financial pie. According to the Bureau of Labor Statistics, food ranks as the third largest expenditure in any household. A family of 4 people spent an average of $1, 293 per month, the USDA reported.
Saving money on grocery may sound impossible but actually, there are ways to cut down your expenses, and they are surprisingly easy. It is estimated that doing these tips will cut down your expenditure up to 25%. Good right?
1. Do an inventory of your stocks
Once a month, take out all your supplies from your fridge and pantry. Make a note of what you still have and what you need. Making a list of your groceries will provide you an overview of the stocks that you need in your household, thus avoiding any duplication of your provisions.
2. Plan your meals ahead
This will help you create menu. Knowing your next meals, purchasing the essential raw materials and making homemade dinners, for instance, will cost less than eating out in a restaurant.
3. Shop monthly
The key here is frequency. Instead of shopping weekly and exposing yourself to an endless series of advertisement in the supermarket, buy your groceries once a month. Make a list of what you need in a month and stick with it.
4. Get your grocery on non-peak days
It is a common economic knowledge that the increase in customer’s demand automatically increase the price of the grocery items. Holidays are good example of this phenomenon. Save money by shopping in advance. Consequently, doing so will also save you from any holiday rush.
5. Look for a budget friendly store
Instead of purchasing your provisions in large supermarket with their high prices, choose and shop in budget friendly merchandise. The price of commodities in Walmart, for example, is 20% lower than other depots.
At first glance, saving money on grocery may seem impossible but closer inspection will reveal the easy ways to do so. Follow these 5 tips and you can expect a significant decrease in your grocery expenditures.