Financial Self Help Blog

Saving Money on Your Food Bill: What You May Not Know

by .
Filed under: Personal Finance - Saving Money.

Many people spend far more than they need to on their monthly food expense. You may already know that you spend a lot of money going out to eat at restaurants regularly, and that regular cup of coffee you get at the local coffee shop doesn’t help your budget either. So if you are looking for ways to save money on your personal budget, you probably already have plans to cut down on those meals, snacks and drinks out at restaurants.

What you may not realize is that you can actually cut down your food expense even further by making smarter selections at the grocery store. Many people believe that buying in bulk saves money and that buying items at popular discount or bulk item stores saves money. You may also think that buying generic items is always more cost effective than buying brand names. These ideas may be true in some cases, but they are not always true. In fact, in some cases it is far more cost effective to buy the smaller size of certain items just as sometimes the brand name product is the better deal. Of course, without having a lot of time and a calculator on hand, it may seem pretty difficult to determine just which items you should buy to save money at the grocery store.

So just how do you know which items to buy at the grocery store? The fact is that if you look just a little more closely at the price tag labels on grocery store shelves, you will see a small figure that is far more important than the sales price. This figure is often located in smaller print in one of the corners of the price tag. It will show the cost per ounce, cost per unit, or some other similar unit of measurement. When you look at this figure, you can very easily tell which item is the cheaper buy. This trick works across all brands, and it also makes it easy to determine if in bulk is really a great deal after all.

One last tip to consider when shopping at the grocery store is that grocery stores will alter their prices periodically. So avoid the habit to buy the same item over and over. Instead, get into the habit of doing a quick scan to look for the most cost effective buy to make on that specific day. As you might imagine, it is far easier to do this price comparison when shop at non-peak hours such as earlier in the morning, later in the evening, or on weekdays if possible.

Leave a Reply