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15 Simple Ways To Save Money on Groceries And Still Eat Well

15 Simple Ways To Save Money on Groceries And Still Eat Well

Whether you only have to feed yourself, or you’re trying to provide cost effective, nutritious food for a growing family, buying groceries is one of the largest expenses for any household.

According to the USDA’s Center for Nutrition Policy and Promotion, the cost of feeding a family of four can be as much as $954.60 per month. And it’s likely to be much more for many families.

The good news, is that there are some simple measures you can take to slash the cost of your grocery bill. Here are 15 simple ways, that when combined, can cut your grocery bill by 50% or more.

1. Shop alone

It is estimated that about 65% of the items we pick up when we shop with others are unplanned. If you have children, I’m sure you’ll be acutely aware of this problem. Consider taking control of your weekly shopping and leave your spouse and children at home. Stick rigidly to your list and you’ll save yourself a small fortune as well as a minor headache.

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2. Time your shop intelligently

Is there a particular time of day that your local shop is likely to reduce the cost of certain items? For many, it is at the end of the day. For others, early in the morning. Perhaps a few forbidden items have a nasty habit of jumping into your basket when you’re feeling a little bit hungry? If so, then have a hearty breakfast and hit the store mid-morning. Your bank balance and waistline will thank you.

3. Slice and dice

As with buying prepackaged and precooked foods, buying sliced or diced ingredients means you’re usually paying for the extra preparation process. Instead, purchase hams, cheeses and fruits in their whole state and do the chopping yourself. More time consuming, certainly. But also far more economical.

4. Shop infrequently

It may be lovely to dream of perusing local shops at a leisurely pace and buying fresh produce daily, but it’s also unrealistic for many time-starved families. Get organized and you’ll stop popping into the grocery store every other day and picking up a few impulse buys while you’re there. The less you shop, the more you save.

5. Shop for your lunch

If you don’t plan your week ahead and make your list, you’ll inevitably be dashing to pick up an expensive sandwich or meal in your lunch break. This particular habit is the cause of much debt. And if there are two or three people in your household guilty of not preparing their lunches, it adds up to a significant monthly spending. Prepare sandwiches or fresh soups from home or cook larger meals so that you are able to take leftovers into work.

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6. Check labels

Purchase items as fresh as you possibly can. Rummaging at the back of the shelf to reach for hidden items can mean unearthing the produce that is freshest and with a longer sell-by date. If you lazily swipe the front items from a shelf, you’ll likely be getting the produce with the shortest shelf-life. This simple tip means far less going to waste as you’ll eliminate the need to discard spoiled items.

7. Pay with cash

If you doubt your ability to skip past the ‘freshly baked’ donuts or are easily diverted, it helps to leave the card at home. Although it is difficult to be completely accurate in terms of cost, once you have a rough idea how much you spend on your weekly shop, take the money out in cash and you’ll deny yourself the means of adding tens of dollars worth of unnecessary groceries to your basket.

8. Check for local sales

Check the websites of your local stores for any sales on particular items. There is often a particular meat that is on sale each week and it makes sense to buy in bulk and freeze any cuts that provide excellent value. You can also build each week’s meals around the meats that are available cheap at that time. Remember to also check any promotional flyers that often litter the entrances of grocery stores. And don’t neglect the cheaper cuts of meat that are often reduced. They provide great nutrition and value.

9. Purchase groceries in-season

Purchasing groceries when they are in season is a fantastic way to get the most nutrition from your fruits and vegetables. It is also a cheaper way of packing your diet with these healthy foods when they are at their cheapest. Foods that are locally available and in abundance are almost always cheaper than produce that is out of season and flown thousands of miles to land in your local grocery store isle. Research online sites for local food producers and familiarize yourself with the food seasons.

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10. Buy spices and condiments in bulk

Adding spices to your food is a great way of packing in the flavor without having to add too much fat, salt or sugar. Find stores that sell spices in bulk and by weight. Buying your favorite spices in bulk can save you significant money, and being able to purchase small quantities by weight can also help you avoid unnecessary expenditure on those ingredients you may only use very infrequently.

11. Use a loyalty card and download coupons

It makes sense to accumulate loyalty cards for each store you visit. Sign-up to as many as you use in order to benefit from their loyalty programs. It also pays to use websites such as Coupons.com and print out any relevant coupons. Spending a few minutes searching coupon websites while you’re preparing your menu and shopping list can slash your monthly grocery bill. Be flexible with the brands you buy and you’ll be rewarded with a cheaper bill.

12. Skip prepackaged meals

Sure, prepackaged and precooked foods offer a tempting level of convenience. But they’re also far more expensive than if you were to buy the ingredients separately and cook them yourself. You also have little control of nutritional value, quality or freshness. Although time is scarce and convenience valued, it is far more economical to cook meals from scratch that can be chilled and portioned for subsequent meals.

13. Grow your own

We haven’t all got the space, climate or inclination to grow exotic fruits and vegetables. But we can usually grow our own herbs. Little shop-bought bundles of herbs can be rather expensive if you’re regularly buying a couple of varieties. By simply adding a couple of dollars to the initial cost, you’ll have a pot that will provide an ongoing supply of fresh herbs to snip at your convenience.

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14. Create your menu and list

Creating a weekly menu is one of the best ways in which you can save money on groceries. Having a clear plan of what you’ll be eating each day means that you can break down each meal into the exact ingredients and quantities you’ll need. Making a list of these items ensures that you don’t pick up groceries that you don’t need and it also means you’re far less likely to order a late night pizza.

15. Learn how to cook

If you refuse to cook, then the first three points are pretty redundant really. The importance of cooking your own meals, for taste, nutrition and value cannot be overstated. Cooking meals in the proportions you require affords you a scale of economy that buying ready-made simply cannot come close to. Learning the basics of food preparation enables you to cook quantities as small or large as you need, with little going to waste.

If you are not yet keeping track of your weekly shopping budget, these 15 tips are a great way to start cutting your monthly expenditure and start eating better food. By using your weekly list, tweaking your shop and tracking your spending, you may surprise yourself just how much money you will save on your grocery bill.

Featured photo credit: Bruce Stockwell via flickr.com

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Published on January 8, 2021

How To Pay Off Credit Card Debt Fast: 7 Powerful Tips

How To Pay Off Credit Card Debt Fast: 7 Powerful Tips

Ever wondered whether your credit card debt is the reason you’re in a bad financial situation? You can’t enjoy any fun activities because a good chunk of your money goes toward debt payment. Heck, you’re even behind on some of your monthly bills.

The effects of clumsy debt management are too many to list here. This guide is going to help you discover how to pay off credit card debt fast and start chasing your financial goals.

Debt problems are the last thing anyone wants to encounter. But things can get out of hand when all the “little debts” you take accumulate in interests.

What if you knew some simple and proven ways to be debt-free quickly? Implementing them would mean better financial health for you. It becomes possible to free up cash for your “wants.” These include taking a trip or buying something you’ve always desired. All that while paying your bills on time!

Let’s not wait any longer. Here are 7 powerful tips for paying off credit card debt fast:

1. Pay More Than the Minimum Credit Card Payments

Many people only pay the monthly minimum on their credit cards. Truly, that’s the right amount for staying on good terms with your credit card company. But you need a different approach if you’re looking to achieve financial independence within a short time.[1]

Most of your payments go toward interest costs when you only pay the minimum amount. A substantial sum of your balance remains standing. As a result, it becomes more expensive to eliminate your debts.

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You don’t want to wait more than 10 years to get rid of debt while it’s possible to do it sooner. All you have to do is double that $100 minimum payment to $200 or go higher.

The good thing is that minimum credit card payments are affordable in most cases. By paying a higher amount, you reduce your interest costs, lessen your borrowing period, and boost your credit score.

2. Start With High-Interest Credit Card Debt

If you have more than one credit card debt, prioritize putting the extra money toward the ones with the highest interests. This debt pay-off strategy, known as the debt avalanche method, is essential for being debt-free quickly.[2]

First, you need to list down all the credit card debts you have in the order of their interest rates. Next, you choose the one with the highest interest and pay a significant amount toward it each month. It can be an amount twice or even thrice larger than the minimum payment.

At the same time, you make monthly minimum payments on the other debts. Their interest charges won’t be as costly as that of the first debt on your list. You only move on to the next high-interest debt after the first one is gone. Remember that your focus is on the interest rates and not the balances.

3. Revisit Your Budget

Budgeting is useful for tracking your financial moves. Once you create a budget, some tweaks along the way can make it work for you better. One situation that requires you to revisit your budget is when you’re struggling with debts. It might hurt a bit to slash some expenses. But you also don’t want to miss out on achieving financial freedom in the long run.

You can reduce some variable expenses to free up more cash for credit card debt payments. They’re the ones that change from time to time. Some examples are groceries, fuel, and clothing.

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Other opportunities for cutting down your spending lie in non-essential expenses. Instead of dining out all the time, you can cook at home more to save money. You can also share some subscriptions with friends and pay a fraction of the cost.

If you’re determined enough, you can eliminate all your unnecessary expenses and focus on paying off your credit card debt first.

4. Avoid Using Your Credit Cards

Do you want to know how to pay off credit card debt with a low income? One simple way is to stop using them. Having your credit cards everywhere you go means that you’ll be more tempted to buy unnecessary stuff. In this case, you spend money that you don’t really own and get deeper into debt.

The quickest fix to stop the debt build-up is spending with cash. You’ll be more aware of everything you can afford at any particular time. If you decide to keep one or two cards to ease the transition, always make wise choices. For instance, only use them when experiencing financial difficulties.

It’s best to categorize your fun activities under “discretionary spending” in your budget. This way, you won’t need more debt to kill your boredom. By halting your credit debt from accumulating, it’s easy to pay down what you already owe and be happy with the progress.

5. Start a Side Hustle to Boost Your Income

You’re probably turning away a lot of money by not monetizing your skills. Everyone has something that they’re good at doing. And you can use that to generate extra income for attacking your credit card debt.

If you look around your neighborhood, you can find several side hustle opportunities. It can be pet sitting, tutoring, or lawn mowing. You can start an online business by offering services such as digital marketing, content creation, and web development. Such skills go in high demand on freelance sites and job boards.

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Finding clients on social media is also a good strategy to utilize your skills and make more money. Facebook groups, Quora Spaces, and subreddits are some places to look for side jobs. You only have to join a niche-specific platform, share your services, and respond to any opportunities.

It’s possible to learn a skill, practice it, and earn from it. Use the free resources online or purchase some e-courses to get started.

6. Sell Your Used Items for Extra Cash

Starting a side hustle isn’t the only way to generate extra money. You can turn unwanted items into cash for paying off credit card debt. Whether it’s an old TV, book, or furniture, there is always someone itching to buy your used stuff.

A garage sale, as much as it’s old-fashioned, is perfect for getting your neighbors and passers-by to buy from you. You keep all the money because there are no business permits or taxes involved. While you may not make much cash, it’s better than leaving your stuff to go defunct in your storage.

Other than that, you can sell your used stuff on online marketplaces. Facebook groups are great places to start if you want quick approvals and hence sales. You only have to ensure that your listing follows Facebook’s commerce policies.

When selling any pre-owned items online, ensure they’re in good shape to avoid problems with your buyers.

7. Know When to Seek Help With Your Debt

Asking for help with your credit card debt can be challenging to do. But letting it drown you is a road you don’t want to take. While you may feel embarrassed at first, it’s the best way to get back on track when you run out of options.

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There are tons of non-profit credit counseling organizations that can offer you free guidance on how to escape the debt trap. An example is The National Foundation for Credit Counseling. They simply review your finances and help you determine the source of your financial problems. After that, they match you with an actionable debt management solution.[3]

In extreme cases, the debt solution can be:

  • Debt relief – where your debt is partially or wholly forgiven
  • Debt consolidation – taking out one loan to repay others
  • Debt settlement – the creditor forgives a significant portion of your debt
  • Bankruptcy – legal process for seeking relief from some or all your debts

It’s necessary to carefully weigh your options before deciding on the way to go. Find out how it might affect your credit score and any other risks.

Wrapping It Up

Debt is a major setback when you’re trying to prosper in life. Paying off credit card debt is essential if you want to reach your financial goals. That means having more free income, a good credit card score, and even a chance to retire early. You become more productive each day because of the peace in your mind.

So, you now have some tips on how to pay off credit fast. Go ahead and get rid of that good life progress killer!

More Tips on How to Pay Off Debt

Featured photo credit: rupixen.com via unsplash.com

Reference

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