Tips For Saving Money On Groceries

By Phillipa G December 3, 2023

Economizing on meals by dining at home remains a steadfast strategy. Yet, the escalating cost of groceries, up nearly 12 percent for the year by the close of 2022, poses a challenge, as per the Bureau of Labor Statistics. Despite surges in the prices of kitchen staples like eggs and meat, opting for groceries over takeout can still be a more cost-effective choice. Implementing savvy supermarket shopping practices is crucial to keeping expenses in check amid rising costs. Here are valuable strategies to save money on groceries:

Take Inventory and Make a List

Before embarking on a grocery shopping trip, conduct a thorough inventory check of your refrigerator and pantry. Documenting what you already have through a list or a quick snapshot prevents unnecessary purchases and helps streamline your shopping needs.

Limit Shopping Trips

Reducing the frequency of your visits to the store minimizes opportunities for impulse purchases. Cutting down on unnecessary trips aligns with the advice of financial experts Steve and Annette Economides from

Stick to Your List

Combatting impulsive spending is facilitated by adhering strictly to your prepared grocery list. Shopping solo enhances your ability to stay focused and resist items outside your list or budget, especially when accompanied by children.

Pay Attention to Prices

In an era of inflation, more than passive shopping is required. Actively evaluating the prices of regularly purchased items empowers you to seize favorable deals and avoid unnecessary expenses. You can get insights and the best bargains by comparing prices across multiple local stores.

Utilize Sunday Paper Coupons

A Sunday paper subscription can yield substantial savings through grocery deals and coupons. However, exercise caution with promotions that involve complex conditions or challenging redemption processes to ensure practical and beneficial use.

Be Cautious with Online Shopping

Online grocery services can be convenient, but they can also be more costly. Potential issues include the unavailability of desired sizes and the possibility of higher prices for larger quantities. Be mindful of third-party sellers on platforms like Amazon, as additional shipping costs may apply.

Image source: Blue Planet Studio/Shutterstock

Calculate Your Burn Rate

Understanding how quickly you consume products is vital. Determine the longevity of items and make bulk purchases only if they align with your consumption patterns. Overbuying perishable items may lead to unnecessary overspending.

Follow Your Favorite Brands

Leverage brand loyalty to your advantage by following your favorite brands on social media or subscribing to their mailing lists. Exclusive deals and offers are often extended to loyal customers.

Explore Generic Labels

While brand loyalty is beneficial, consider trying generic or “value” labels for specific products. Affordable alternatives to premium brands, such as generic versions of well-known products, can provide comparable quality at a lower cost.

Use Credit Cards Strategically

Explore credit cards that offer cash back or rewards for grocery purchases. Paying attention to spending caps, annual fees, and rotating categories ensures optimal utilization of rewards. Clearing the card balance monthly prevents interest charges that could erode your savings.

Establish a Local Supermarket Circuit

Diversify your shopping locations to identify the best deals at different stores. Tailor your approach based on each store’s strengths, such as utilizing discount stores for specific items and visiting wholesale clubs for bulk purchases.

Consider a Wholesale Membership

Warehouse clubs like Costco, Sam’s Club, or BJ’s Wholesale Club offer cost-effective bulk purchases. Evaluate the feasibility of membership by assessing your storage capacity and shopping frequency. Be aware of the annual fee and ensure it aligns with potential savings.

Analyze Price per Unit

Take note of the price per unit (ounce, pound, gram) to compare costs effectively. Utilize unit price calculators and check pricing displays for variations within the same store. Understanding seasonal price fluctuations aids in making informed purchasing decisions.

Image source: Jacob Lund/Shutterstock

Recognize Sale Cycles

Capitalizing on holiday-related sales cycles, especially post-holiday clearance sections, allows for significant savings. According to retail expert Kurt Jetta, shopping early in the month may also unveil better deals, attributed to consumer pay cycles.

Adhering to these practical strategies empowers you to navigate the challenges of rising grocery costs and make informed decisions that align with your financial goals.