Many Americans have noticed that buying the same amount of food now costs more than before. Despite inflation easing, food prices remain high. Since inflation started three years ago, food prices have increased by an average of 21%.
According to the Associated Press, unlike other commodities, consumers have no choice but to buy food even when prices rise. While people may feel helpless about inflation, there are methods to save on food expenses to prevent a significant dent in their wallets. These methods include using coupons, budgeting wisely, and buying in bulk.
Here are some suggestions provided by experts to save on food costs:
Kiersten Torok began using coupons in high school when her parents lost their jobs during the 2008 economic recession. In 2020, she lost her job during the pandemic, strengthening her reliance on coupons. She is now using her social media platform to help others learn how to save money.
Torok says, “Coupons are essential for many Americans in times like these.”
While some may think finding coupons involves cutting them out of magazines, there are now easier ways to get discounts. Many stores like Walmart and Target provide coupons on their apps.
“You just need to scan an item in the store, and the coupon will pop up on your app, providing a discount automatically during checkout,” Torok said. “It has become much more streamlined now.”
One of Torok’s coupon golden rules is to never pay full price for toothpaste, as there are always coupons and deals available. For those interested in trying out coupons, Torok suggests starting with your favorite stores and never buying things you don’t need, even with significant discounts.
Apps like Flipp allow you to browse coupons from all major grocery stores, while Ibotta is an app that offers cashback using coupons, making your couponing journey easier.
Budgeting is key to controlling food expenses. The first step is tracking how much money you have spent. David Brindley, the deputy editor of AARP magazine, recommends reviewing recent food purchases to estimate your total spending.
If you don’t have receipts from past food purchases, check your bank account to calculate total food costs. Once you know how much you’ve spent on food, set a goal to stay within a specific budget or decrease your spending.
Before planning, make sure you know what’s in your fridge and pantry. Sarah Schweisthal, a personal finance expert and social media manager at budgeting app YNAB, suggests listing everything to avoid buying duplicates.
Brindley also suggests cooking multiple meals with similar ingredients to save money and reduce food waste.
After tracking expenses and taking inventory, the next step is to plan. Write down the food items you need and the estimated costs to ensure you don’t exceed your budget. Schweisthal says planning weekly or monthly meals is a good way to control expenses.
Wandering around a grocery store can tempt you to buy unplanned items like snacks or new dishes. If you find it challenging to stick to your shopping list, add some flexibility to your plan by setting aside a budget for snacks or impulse purchases.
“Having flexibility in your plan can actually help you stick to it better,” Schweisthal said.
Planning can be as simple as writing a list on paper or a note-taking app on your phone. You can also use apps like AnyList or Mealime to help with meal planning.
If you tend to buy unnecessary items not on your shopping list every time you go to the store, online shopping with curbside pickup is a good option.
“I highly recommend sitting down on Sunday mornings, browsing the store’s website, comparing what you need for the week, especially those available for curbside pickup,” Torok said.
Different stores offer different discounts, and purchasing sale items from multiple stores can save you a lot of money. Pre-ordering can also save you time.
If you’re responsible for buying food for the whole family, involving them in your food budget plan can be beneficial. For Torok, this means teaching her kids how to scan coupons while shopping.
Buying in bulk is very cost-effective. Brindley also suggests pooling discounts by buying specific items in bulk with friends or family.
Finally, you can save money by using food-sharing apps like Olio, connecting people in the community to share surplus goods, and Too Good to Go, where you can buy more food at discounted prices.