Cut Grocery Costs: Tips to Save Without Breaking the Bank

NEW YORK — If you’ve noticed prices at the grocery store creeping higher, you’re not alone. Despite a general decline in inflation, grocery prices have increased by an average of 21% over the past three years. For many households, this persistent rise affects meal planning and budgets.

While cutting back on groceries is not a viable option, there are strategies to manage spending and mitigate the impact of inflated prices. Utilizing coupons, creating a budget, and buying in bulk are just a few methods that can assist in reducing overall grocery costs.

Experts suggest starting with coupons. Kiersten Torok, who began couponing as a teenager during the 2008 recession, found herself relying on these discounts even more during the pandemic. Now, she uses her social media platforms to share tips on saving.

“Coupons can be essential during tough financial times,” Torok, known as Torok Coupon Hunter on Instagram and TikTok, stated. Many people think of traditional paper coupons, but modern technology makes accessing discounts easier than ever. Many retail apps, such as those for Walmart and Target, allow shoppers to automatically apply coupons at checkout by simply scanning items in-store.

Torok follows a golden rule in couponing; she believes no one should ever pay full price for toothpaste, as discounts are consistently available. For those new to couponing, she advises starting with familiar stores and not to buy unnecessary items just for the sake of a discount.

Several apps can support couponing endeavors, including Flipp, which aggregates coupons from various grocery stores, and Ibotta, which offers cashback on coupon purchases.

Another important strategy is tracking current spending. Establishing a budget is crucial, and the first step is understanding past spending habits. David Brindley, deputy editor for AARP Bulletin, suggests reviewing grocery expenses from recent trips. For those who don’t keep receipts, bank statements can provide helpful insights. By knowing how much you typically spend, you can set realistic budgeting goals.

Before making a shopping list, it’s essential to take stock of what you currently have at home. Sarah Schweisthal, a personal finance expert, recommends clearing out the fridge and pantry to avoid buying duplicate items. She also suggests meal planning around similar ingredients to save money and minimize food waste.

Once you have a clear idea of your spending habits and inventory, it’s time to make a plan. Writing down the items you need, along with their estimated costs, helps in sticking to a budget. Schweisthal encourages meal planning for a week or a month to keep expenditures in check.

It’s all too easy to be tempted by unplanned purchases while shopping in-store. To combat this, you might consider allowing a little flexibility in your budget for snacks or spontaneous items. “Having some room for flexibility can actually help you adhere to your overall plan,” Schweisthal noted.

A simple method for planning can be jotting down a list on paper or using note-taking apps on smartphones. There are also dedicated meal-planning apps such as AnyList and Mealime that can assist in organizing your shopping trips.

For those prone to straying from their grocery lists, shopping online or using curbside pickup can help maintain focus. Torok suggests dedicating time on Sunday mornings to compare prices online before heading out to pick up groceries. This tactic can save both time and money, especially for those who frequent multiple stores for the best deals.

Involving family members in the grocery shopping process can also be beneficial. Torok has found that teaching her children how to use coupons while shopping engenders a sense of responsibility and financial literacy. Additionally, buying in bulk can offer significant savings, and pairing up with friends or family to share bulk purchases can further enhance discounts.

Food-sharing applications provide another appealing option for reducing grocery costs. Apps like Olio connect community members to share surplus grocery items, while Too Good to Go allows users to purchase unsold food at discounted prices.

As the ongoing cost of living continues to shape household budgets, employing effective grocery budgeting strategies can help ease financial strain. With the right tools and approaches, it is possible to maintain a healthy diet without stretching finances too thin.

Source: AP