When we think of things that tend to cost us a lot of money, certain expenses come to mind—perhaps housing, transportation, or health care. But surprisingly lately Personal Capital Survey Of respondents with salaries over $20,000, the highest spending category for Americans is none of those. Instead, it is grocery shop. This applies to adults of all age groups.
If your purchase invoices are taking up a large portion of your budget, there are steps you can take to reduce costs. Here’s a little to get you started.
1. Always make a list
It’s easy to lose focus at the grocery store when you allow yourself to wander the aisles aimlessly instead of getting into a plan. Your best bet is to make a shopping list in advance and pledge to stick to it. Before you make your list, take inventory of the items you have a lot of at home and the things you are running out of. This way, you won’t have to guess what you need while you’re in the store. Your list should also include the ingredients for the meals you plan to prepare for the next week.
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2. Buy in bulk strategically
It is generally not a good idea to buy most of your food in bulk. If you do, you will risk things expiring before you even get a chance to use them. But if you buy specific items in bulk – the ones you use most often – you can significantly reduce your bills. Before you buy any item in bulk, make sure you have enough storage space. This is especially true for perishable items.
3. Get the right credit cards
Shipping your groceries on A Credit card Good way to get rewards for items you need to purchase. But how generous is your credit card when it comes to grocery purchases? If you only receive 1% cashback on your purchases, there may be a better rewards program for you. It is worth considering credit cards that offer a High cashback rate on groceries If that is the most you spend each month.
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4. Look outside the supermarkets
Supermarkets are a convenient way to buy groceries, but if your family eats a lot of fruits and vegetables, your bills can become very expensive. Your best bet may be to visit local farms or farmers markets, where their prices may be more competitive. Also, the produce you buy may be fresher than you’ll find at the grocery store, which means you’ll be less likely to fall victim to food waste.
The fact that so many people spend more to feed themselves and their families than to put a roof over their heads is surprising. Part of this may be due to the fact that grocery prices have gone up significantly due to the overall effect of inflation.
If you’re spending more than ever on groceries, use these tips to cut costs — and keep more of your hard-earned money for other important purposes.
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