These days everyone wants to spend less money. With increasing costs to healthcare and gasoline, grocery costs seem to be of the things to be increasing faster than inflation, and represent a large percentage of people’s budgets. Monthly expenses are either fixed like rent/mortgage, car payments and utilities, while other areas are variable such as groceries and entertainment. Household budgets are under more pressure than ever today, and people are trying to eliminate debt, save for emergencies in an effort to not live pay-check-to-paycheck, and save for retirement. It may be that more than any area of spending, people can substantially reduce their expenses on groceries.
Is there a grocery store conspiracy? Every grocery store chain employs geniuses with PhD’s with one intent, and that is to extract as much money out of your pocket from the time you enter until you leave their premises. Every item has precise packaging, pricing, location, and marketing to appeal to the buyer. The sights, sounds, smells, and advertisements throughout the store are designed to capture your money. This is not a conspiracy, but has been validated by those in the grocery industry.
What happens if you don’t have a plan? If you don’t go to the grocery store with a full stomach, spending limit, grocery list, an understanding of pricing, sales and coupons then the grocery store wins, and you probably end up spending too much money on groceries.
How do I figure out how to do this? There is a lot to learn about various techniques to wise purchasing at the grocery store. Taking classes in person or online, reading books and websites you will get really good at this.
Is this a good investment of time? If you become just okay at it, you can save about 20%. If you are usually spending $100 per week at the store, your savings is $1,040 per year in tax free income. If you get decent at it, you can save about 35% you will save $1,820 per year. This is a nice vacation or a dent in debt repayment, for an hour a week. You don’t have to become a ‘Coupon Queen’, but if you do, you will save a bunch more.
I don’t buy a lot of processed food or I shop at the deep discount stores is this still helpful? You may already be doing a lot of the right things; however we find that just learning some key techniques and secrets, this can really help people save a lot of money on pet food, toiletries, laundry detergent and even regular food items that you do purchase.
If you are not a couponer, or put a lot of effort into saving at the grocery store, consider doing so, it saves our family thousands of dollars every year, and will do the same for you.
