Inflation has been a big topic this year, with rising gas prices often the focus. However, rising food costs are putting a serious strain on many people’s budgets. In fact, more than 42% of his respondents in GOBankingRates’ Year in Review survey said rising food costs had the greatest impact on their finances in 2022.
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This figure was much higher than the 24% who said gasoline prices had the biggest impact. And it makes sense — his latest CPI inflation data shows that the price of groceries at home has risen 12% in the last 12 months. This is even bigger than the increase in food costs away from home, so if you don’t want to ruin your budget, you need to be savvy.
Despite this news, there are many ways to keep grocery costs down. Mitigating the impact of rising food prices is possible with the right move. Here are some of the best ways to save on groceries.
make a list
Making a list before going to the grocery store will help you remember everything you need. However, it also helps you stick to your budget.
By creating and maintaining a list, you can avoid overspending. Some of the things you might buy if you don’t have a list may be more marked up than others. It may rot before. Know what you need before you go and buy only those things.
use coupon
It may not be a revolutionary idea, but using coupons is an effective way to save money on groceries. Maybe you’ve received coupon mailers before — these are still a solid source of savings. See if there are any coupons. If so, you can easily save a few extra bucks.
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buy generic
Generic products may not look as attractive as big name brands. Packages are often monotonous and may have mundane names like “toasted oats.” However, they are cheaper and the quality of generic items is often as good as the big name brands. If you are not satisfied with the quality, you can always go back to the famous brand.
Know when an item is on sale
Grocery stores frequently have sales, and those sales may follow predictable patterns. If you know when certain items are on sale at your grocery store, you can plan your trip based on those sales. Try to go when a few frequently purchased items are on sale. Maximize your savings.
Join our Loyalty Program
Joining a loyalty program is easy if you usually shop at the same stores. Joining usually takes a few minutes and offers members-only discounts.
You probably noticed a display advertising a certain “price with card”. You can access these prices only if you participate in the store’s loyalty program. If you see these labels on many items you buy frequently, be sure to become a member and take advantage of those savings.
Bulk buying
Buying in bulk can be a budget-friendly decision in some cases. For example, a large family may go through a carton of oats faster than you can say “steel cut.”
Even if you don’t have a large family, it might be worth buying other items in bulk. Other examples include dried beans, dried fruits and honey.
Get Rebate or Discount App
A variety of rebate and discount apps help you get the most out of your money when shopping for groceries. These apps work in several different ways.
For example, some allow you to scan your receipt for cash back after you buy groceries. Others find and automatically apply digital coupons to help you buy groceries online. You can buy your groceries online if you want your groceries delivered or if you prefer to buy them in advance. No matter how you shop, these are often overlooked ways to save a little extra.
Plan meals with overlapping ingredients
Items like potatoes and tomato sauce are versatile ingredients that can be used for dozens of meals. If you’re planning several meals with the same ingredients, you can reduce the number of items you need to buy.
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This article originally appeared on GOBankingRates.com: Rising food costs were the biggest financial challenge for Americans in 2022: How to save money on your next grocery trip
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