I’m a Financial Expert: Here’s 10 Ways I Save on Groceries Every Month
Written by
Nicole Spector
Edited by
Ashleigh Ray
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The price of groceries has been on an upward trajectory, and sadly, it’s not looking like the costs of food will go down anytime soon.
Though you may, inescapably, have to budget more aggressively to save on food, there are some key moves you can make to cut back on costs.
To learn more, we talked to financial experts to learn exactly what they personally do to save on groceries for themselves and their respective families.
Never Go Grocery Shopping When Hungry
Buying groceries can be much more costly if you visit the store while hungry, so aim to go when you know you’ll have a full stomach.
“Grocery stores are notorious for upselling customers once they are in the store,” said David Klasing, a tax lawyer at the Tax Law Offices of David W. Klasing. “To ensure that this doesn’t happen to you, be sure to never go to the grocery store hungry.”
Sign Up For the Loyalty Program
Another way Klasing saves money at the grocery store is by signing up for their loyalty program.
“This will enable you to utilize promotions in the store and buy at a discount on things you need in bulk,” Klasing said. “For example, if there is a buy-2-get-1-free sale on cans of beans, you can use your loyalty program to capture this sale and bulk up on beans to stock the pantry.”
Take Inventory of What You Already Have in the Fridge and Cupboard
“My best-kept secret for saving money on groceries every month is to carefully plan my meals and shopping list for every week,” said Yasmin Purnell of The Wallet Moth.
“Every Sunday, I’ll take stock of what I have in my refrigerator and pantry, and plan out the meals my family and I will have throughout the week.”
Make Enough for Leftovers
Planning and prepping meals that will provide ample leftovers is key. It’s also a great time saver. “Often, I’ll double up meals so we have leftovers for lunch the next day, which reduces the number of ingredients needed each week,” said Purnell.
Plan, Plan, Plan
You may be busy, tired and all around stretched thin, but if you want to save on groceries, careful planning is essential.
“Careful planning may be a habit that needs some adjustment, but it has significantly reduced the amount of food waste we have each month,” Purnell said. “[It’s] allowed us to be more frugal with our grocery spending, and avoid overspending on food that isn’t needed or used on time.”
Write it All Down
There are plenty of apps you can use to make a list of needed grocery items for the week — or go the old-fashioned route and write a list out by hand.
“I highly recommend at the very least writing out your grocery list with a rough plan of your meal plan for the week before you head out to do your shopping,” Purnell said. “This helps cut down on those expensive and unnecessary spontaneous buys.”
Shop at Aldi and Sam’s Club
Jay Zigmont, PhD, MBA, CFP and founder at Childfree Wealth, regularly shops at Aldi and Sam’s Club for mega savings on groceries.
“Aldi and Sam’s Club have a great selection of generic products that work,” Zigmont said. “Don’t expect anything fancy, but it is amazing how much cheaper they can be than your local grocery store.”
Opt for Ingredients That Can Be Used for Many Meals
Each week, Zigmont cooks large meals that can be used for meals throughout the rest of the week. He gets this job done by choosing core ingredients (like chicken) that can be used in a multitude of ways.
“Cooking a large package of chicken provides protein that can be used in multiple ways across the week,” Zigmont said.
Invest in a Good Coffee Maker
If you’re a coffee lover, it makes sense to invest in a high-end coffee maker and/or espresso machine. This can actually help you cut down on spending.
“My wife loves coffee,” Zigmont said. “I bought her an espresso machine and a k-cup coffee maker for our house. We buy good coffee beans, and she is able to make good coffee at home and skip Starbucks.”
Think Not Only About Saving Money, But About Saving Time
Time is money, they say, and this trite but true saying comes heavily into play when shopping for groceries — though it does seem to stray from conventional money-saving wisdom, at first.
“I don’t penny-pinch on ingredients, and I am not a coupon-cutter, but time is money,” said Brandon Mather, CFP and financial advisor at Wealth Enhancement Group. “The less time I spend in the grocery store, the less money I spend.”
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