You know that I’ve had the recent, eye-opening experience of coming face to face with price increases at the supermarket. I mean, it’s one thing to hear the talking heads on TV spouting off about how the American economy is going into a tailspin, but it’s an entirely different (and more humbling) thing when you experience those economic realities first-hand–whether it be with a lost job, the realization that there are certain luxuries you’ll have to forgo for the time being, or the heart-stopping and ever-increasing total on your weekly grocery bill.
Here’s what a recent MSNBC story had to say about that: “People are really feeling it when you consider food accounts for about 15% of the average household budget. Rising prices are in large part driven by wheat — up 44%. Consumers are paying as much as 36% more than last year for common kitchen staples, like eggs, bread, milk, and chicken.”
And never mind how much it costs to drive to the grocery store. Last year we were all getting used to the notion of gas costing $3+ a gallon. I’m convinced that by 2009, $4+ a gallon will become the norm. Boy oh boy do I wish we sucked it up with the carpooling conveniences and gone with a hybrid car after all.
Despite this dour news, all hope isn’t lost. If ever there was a time to get smarter about your coupon clipping and food-shopping planning, it would be now. Thankfully, I have some advice to offer you, courtesy of two savings experts–Stephanie Nelson, The Coupon Mom, and Amy Bergin, creator of The Couponizer.
Here are three smart-shopping tips from these very smart ladies:
1. Establish a weekly shopping routine that includes planning and shopping.
Often times shopping is done with little or no planning, and this is a sure way to overspend. Inventory your current supplies, check your calendar, scan your recipes, and make a shopping list. Then line up coupons and weekly deals. One way I put this advice to work is to keep a running shopping list stuck to my refrigerator. As we use something up or discover that we need something, onto the list it goes. At the same time I’ve established five or so rotating dinner meals that I can make cheaply and in a snap, and I plan these menus a week in advance. Whatever supplies I’m missing for that week’s menu, I add to the shopping list.
2. Set goals for spending.
When you decide as a family how much money you have to spend each week or month for necessities, you tend to be more diligent in how you spend that money. Revisit these goals quarterly to see what is working and what is not. For a long time I’ve tried to stick to $150 a week for groceries. In reality that number has crept up to $180–perhaps because of some laziness on my part or maybe because, in reality, things simply cost more this year than last. After my $300+ shopping bill two weeks ago, I was pretty pleased to spend only $191 at the supermarket this week.
3. Track your savings.
If you total your savings for a month or two, you will be amazed at how much this total is (especially if you have been utilizing coupons and other savings opportunities). Just like seeing weight loss motivates you to keep dieting, saving money will motivate you to keep up your new plan–and using coupons is the easiest way. We track our spending and savings using Quicken. You could create a spreadsheet in Excel just as easily.
One last piece of advice: remember what your mom always told you, and don’t go food shopping when you’re hungry. That really is a recipe for overspending. Also, I try to avoid taking my I-want-it-now kids with me when I go food shopping. They always seem to convince me to buy items I don’t have on my list.
Do you have any tried-and-true methods for saving money on groceries? If so, I’d love to hear them.
[NOTE] Thanks to everyone for their patience during my computer meltdown. I appreciate the emails I received from folks who wished me well and hoped I’d get back online again soon. Well, I’m baaaaaaaack!
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