These past few years have hit many people’s wallets in a very noticeable way. Rising product costs and shrinkflation mean that you’re sometimes left standing completely dumbfounded at the grocery store checkout counter. You only bought a handful of things. How come they cost so much?!
In a viral online thread, some personal finance-savvy and frugal-minded redditors shared their top tips on getting your grocery budget to go further. We’ve collected some of their best pieces of advice to share with you. You’ll find them as you read on.
We wanted to get to grips with saving more money at the grocery store, so we got in touch with Rick Orford, a well-known personal finance expert and the author of the bestseller, 'The Financially Independent Millennial.' Read on for the advice he shared with Bored Panda.
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Personal finance expert Orford opened up to Bored Panda that saving money at the grocery store is as important to him today as ever.
"To maximize savings, I find it's always best to start with a weekly meal plan. Planning for breakfasts, lunches, and dinners—and then reconciling that with my budget sets the foundation for good planning," he explained to us in an email.
"I like to watch what's on sale this week and plan meals around that. Doing so allows me to have a variety of meals while saving money," Orford said.
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"For example, this week, whole chickens are on sale, so I'll buy 2 or 3 and make different meals with them to eat in the next few days or freeze them for another time."
One slightly counterintuitive-sounding tactic that Orford uses is shopping at not more than 2 or 3 grocery stores.
"Doing so allows me to leverage the grocery store loyalty programs while watching for pricing. One store might be great for bulk meats, while another may have a better loyalty program. Others might be better for 'store brands,'" he explained his reasoning to Bored Panda.
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"For example, no-name brands are often (not always) just as good as the big labels—yet cost significantly less. Trust me, no-name rice and beans will taste the same as something with a fancy name and box," Orford pointed out.
"And lastly, if there's a particularly good sale on nonperishables or supplies (think toiletries, cleaning supplies, etc.), don't hesitate to buy 6 months or 1 year's worth! If my usual bath soap costs $3.99 and it's on sale for $1.99, why not buy 12?" the personal finance expert urged customers to consider buying discounted goods in bulk.
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USA Today reports that the average American household spends over $1,000 per month on groceries. Inflation, supply-chain issues, and increased demand are to blame. However, food costs also depend quite a bit on the size of the household, as well as what part of the US someone lives in.
For example, the average American family spends $270 per week (around $1,080 per month) on groceries. Meanwhile, families with kids spend around $331 per week (more than $1,324 per month) at the grocery store.
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Meanwhile, if you live in pricier states, your grocery bill is also going to look bigger. For instance, the Census Bureau’s Household Pulse Survey for October 18-30, 2023, showed that the average California household buys groceries for around $297 every week (roughly $1,188 per month). Americans living in Nevada aren’t far behind: they spend $294 per week ($1,176+ per month).
However, if you live in Iowa, Nebraska, Michigan, or Indiana, you’re probably spending less than $240 per week (around $960 per month) at your local grocery store.
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Naturally, everyone wants to put food on the table for their family. Ideally, that food is going to be fresh, nutritious, healthy, and cheap. However, high-quality ingredients can be quite expensive. So, you need to hunt for in-season groceries to keep the costs down. Buying food in bulk and then freezing it can also help keep your wallet happier.
If you find yourself really hard-pressed budget-wise, you need to take a detailed look at your expenses. Analyze what types of food items you’re spending the most money on. For example, you might find that you’re a huge meat-eater. However, quality red meat can be pricey. So going meatless even for one additional day every week can make your grocery budget go further.
Similarly, you might realize that you’re spending large chunks of your hard-earned cash on snacks, sodas, and processed food. Everyone needs a tasty little treat to reward themselves every now and then. But if you’re rewarding yourself all the time, it might mean that you’re stretching your budget to its limit. Not to mention that overindulging in junk food is going to wreck your health.
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Going for a cheeky fast food meal is getting more expensive, too. CNN Business’ Allison Morrow reports that many Americans are disappointed by the constantly rising prices at McDonald’s. Grocery prices rose 1.3% in 2023. However, they were dwarfed by the rising costs of dining out, which rose 5.2% that same year.
The CEO of McDonald’s, Chris Kempczinski, recently pointed out that “eating at home has become more affordable.” Things have gotten so bad that customers have taken to social media and TikTok to voice their concerns. Some people have gone viral for calling out McDonald’s for serving $3 hash browns in some of its locations. Food prices vary a lot depending on what restaurant you visit.
In this context, cooking at home using cheaper ingredients that are in season sounds like a far better alternative than relying on fast food.
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