7 Signs You’re Spending Too Much on Groceries in Retirement
Written by
Andrea Norris
Edited by
Molly Sullivan
Commitment to Our Readers
GOBankingRates' editorial team is committed to bringing you unbiased reviews and information. We use data-driven methodologies to evaluate financial products and services - our reviews and ratings are not influenced by advertisers. You can read more about our editorial guidelines and our products and services review methodology.
20 Years
Helping You Live Richer
Reviewed
by Experts
Trusted by
Millions of Readers
For retirees living on a fixed income, watching your dollars is crucial. When the costs of essentials like groceries rise, it isn’t always as easy to earn extra cash as it was during your working years. So you must rely on finding ways to reduce your bills instead.
November 2024 food plan spending data from the U.S. Department of Agriculture showed that the average cost for people ages 71 and older ranged from $256.40 to $375.80 for women and $283.40 to $426.50 for men. Costs were similar for people ages 50 to 70.
Regardless of whether your grocery bills are at the high end of this range or you spend less than the average, you may be overlooking some opportunities to save. Consider the following signs that may indicate you’re overspending on groceries to see if some simple money-saving steps can help you keep more of your retirement funds.
Wasting Food
Do you often throw away leftovers or perishables that have gone bad before you can finish them?
When you retire, you may buy as much as you always did out of habit. Maybe you used to buy in bulk to save money when you still had kids to feed at home. But now, buying smaller amounts of dairy products, fresh vegetables and other perishables at a higher per-unit price might end up being cheaper if it cuts down on food waste. If you’re still cooking enough for a crowd, try finding one- or two-serving recipes or share meals with friends and neighbors who will likely return the favor.
By matching your food purchases and cooking habits more closely with what you now consume, you’ll avoid wasting money on groceries that end up in the trash.
Neglecting Your Freezer
An empty freezer is a missed opportunity to save money. When meat or produce is on sale, stocking up and freezing these products allows you to prepare more meals for less money. Then, you can freeze portions of your low-cost home-cooked meals to have quick dinners for busy days.
Make sure you properly store frozen foods to prevent freezer burn, and make sure you label and date everything. Also, don’t overfill your freezer so the cold air can maintain a safe temperature throughout.
Keeping a Disorganized Kitchen
A cluttered pantry, fridge and freezer can make it hard to track what you have, which can lead to duplicate purchases or expired food.
Organize your food storage areas by grouping similar items or arranging them by their expiration dates to help ensure you use up your food before it goes bad. Whenever you make a grocery list, check your inventory to ensure you actually need everything on it.
Avoiding Grocery Apps
Many grocery stores have replaced loyalty cards with apps, which can be tricky for aging eyes to read on a small phone screen. However, these apps can help you stay up to date on the latest discounts and coupons and may allow you to earn rewards to save even more.
Some grocery apps can be accessed from a computer, making viewing sales flyers and coupons easier. You might not need to use the app in the store at all — just enter your phone number at checkout.
If you’re unsure of whether your local grocery store has a loyalty program or app, check its website or ask at the customer service desk the next time you shop.
Ignoring Sales Flyers
Stocking up on frequently used items when they’re on sale can save you a lot, especially if you have additional coupons for those items. Additionally, meal planning around on-sale items like seasonal produce and discounted meats can help you keep your cost per serving low.
Even if you don’t want to do weekly meal planning now that you’re cooking for only one or two people, you can still check the weekly ad to see what you might want to stock up on for later. At the least, checking the ad can help you avoid paying full price for coffee, bread and other items you use regularly.
Skipping Store Brands
By choosing name brands over store brands, you might overspend on essentials like pasta, canned goods and even cleaning supplies. Store brands often provide a similar quality at a fraction of the cost.
Most major retailers now offer a wide selection of store-branded goods, so you can find savings in most grocery aisles.
Relying On Convenience Foods
It’s easy to rely on convenience foods to reduce your time spent in the kitchen, but they tend to be pricier. Cooking meals from scratch is often more budget-friendly and healthier, and it can be just as convenient with a little planning and the right kitchen appliances.
Investing in tools like slow cookers, air fryers and other helpful gadgets can make cooking more accessible and less overwhelming. These appliances can save you time and often let you prepare multiple servings to freeze for later.
Buying fewer convenience foods may require minor changes to your meal planning and prep routine. However, it can help you better control your grocery spending without spending too much time in the kitchen, stretching your retirement funds further.
More From GOBankingRates
