Perhaps you have heard the news: inflation has been an increased drag on pay checks. Food costs have been increasing like most essentials, resulting in lower spending power. What is a consumer to do? At least food cost is a variable expense rather than a fixed expense like rent or a car payment. You have control over what you spend on food. I’m not going to tell you to stop eating out because it is as obvious as the nose on your face! It will take more effort on your part because you will need to pay attention to where your grocery dollars are being spent, but some things go without saying. While nice for a special occasion, tomahawk steaks and shrimp cocktails are not needed each week. Consumers can reduce food costs by implementing the following five tips.
2. Shop on Wednesdays
Some experts say there are savings to be had if you shop on Wednesdays. The reason is that many stores re-stock their shelves midweek and strategically markdown what didn’t sell the prior week. Try this trick and see how much it saves you.
3. Barter With a Farmer
If you have a skill like graphic designing, a farmer could use your skills to promote their small business. Consider bartering your skills (e.g. designing their logo or a marketing poster) in exchange for their meat, dairy, etc. Some have even had success offering babysitting services in exchange for produce and meats.
Check out sites like LocalHarvest to find farmers near your area.
4. Use an App
If you can think of it, there is already an app for whatever you need. Now, I admit that I don’t know much about apps helping you reduce food costs, but I’m learning. Check out this article at Clark.com. I’m currently experimenting with each of the apps listed. Some of them look promising while others don’t. I’ll keep the useful and uninstall the unused. More to come on these apps in a future blog.
5. Know Your Grocery Needs vs. Wants
When you have completed your grocery shopping take a look in your cart. You may have planned ahead and made a shopping list. Did you stick to the list? Look at each item. Is it something that you need for this week’s meals? Can you do without it and still meet your meal planning guidelines? If not then put the item(s) back in stock. Check your grocery basket before you pay, and you’re likely to find at least one item that’s not necessary. Savings!
Do you need help with a budget plan or guidance with your personal finances? Apprisen is here to help.