Sure, everyone wants to save money – who doesn’t? Saving money is essential especially during these tough times. Like myself, I know that most of you are trying to stretch your hard earned money to cover all your family’s necessities.
So, how can we save more money? The answer is easy: by cutting or limiting our expenses. We can do that by effectively managing the money that comes in and out of our pocket; and by making smart financial decisions.
Food is one area that we can save a lot of money from. If you analyze your monthly expenses, you will notice that a large chunk is spent on food (after housing, education, and transportation). If you are Filipino, you might be familiar with the saying “Magtipid ka na sa lahat ng bagay, huwag lang sa pagkain” (try to save on everything but food). I totally agree on the saying and I always put it into practice, but I am still able to save a lot of money on groceries. How was that possible? Simple – I read between the lines. Instead of spending without limits on food items, I tried to think smarter by identifying and prioritizing the food items that I needed before shopping for a bargain.
Here are some tips on how you can save money on groceries:
1. Check your inventory
2. Maintain a list of necessary items
3. Plan next week’s menu ahead of time
4. Allot a grocery budget and stick to it
5. Be alert on sale items
6. Never shop when you’re hungry
7. Shop alone
8. Choose the right store
9. Bring a calculator
10. Shop Online (save on tax and gas)
11. Collect coupons and use them
12. Consider store brand items
13. Compare similar products
14. Watch-out for marketing strategies (and avoid them)
15. Avoid packaged ready to eat food
16. Keep your eye on the scanner
17. Limit your trip (at least once per week)
I might have missed some important tips and I need your input. It is now your turn. How do you save money on groceries?