You’ve noticed the surge in product prices during your latest trip to the grocery store. When the cashier read out the final cost of your bill, you could feel your stomach plunge. It was so much more expensive than you expected.
You’re not imagining these higher prices. Inflation has impacted items on every shelf of your favorite supermarket in the past year. Milk, bread, butter, coffee, chicken, fruit, and vegetables have become more expensive in the past year.
One of the most surprising price hikes has been eggs — usually considered an affordable kitchen staple. All types of eggs have seen an average price jump of 60% in a year.
If these price hikes are putting a strain on your household budget, you should read these tips to find out how can reduce your grocery spending. Your next shopping trip shouldn’t fill you with panic.
How Can You Reduce Your Grocery Spending?
You can’t give up on grocery spending altogether, but you can reduce it. These are some ways that you can adjust your grocery costs:
- Use coupons and discount codes to reduce the prices of items at the register.
- Use cashback apps like Ibotta and Shopkick to get “cash back” on your purchases.
- If you have a credit card that offers cashback on groceries, take advantage of it.
- Join store loyalty programs. These typically offer members special promotions and product discounts.
- Buy generic brands over big-name brands. These will cost a little less.
- Be selective about the grocery stores you shop at. Some stores will set higher prices for the same items. Stores that are known for offering low grocery prices are Aldi, Walmart, and Trader Joe’s.
- Check the expiry dates for perishable items so that you have plenty of time to use them before they go bad.
- Freeze perishable items to keep them edible for longer. You can freeze coffee beans, butter, bread, meat, berries, and baked goods (muffins, cookies, cakes, etc.). You can even put eggs in the freezer.
Why Should You Adjust Your Grocery Spending?
If your budget is already tight, you don’t want to keep grocery shopping as usual. With these price increases, you could go over budget when you reach the cash register and put yourself in a tricky financial situation. You could drain your checking account well before payday. You could put your account into overdraft and accumulate overdraft fees. At the very least, you might not have enough for an emergency expense that comes your way.
If you’re ever in a situation where you don’t have enough funds to cover an emergency expense right away, you don’t have to panic. You could use your credit card and pay down your balance over time. Or you could try to apply for an online loan in your home state. So, if you live in Miami, you could look for online personal loans in Florida and see whether you’re eligible to fill out and send in an application. You could get approved for a personal loan, which you could use to cover your emergency expense in a short amount of time.
While these solutions are available to you, you don’t want to use them if you can help it. You’re better off using your own funds to pay off urgent expenses when they crop up. Adjusting your grocery shopping habits is one way that you can manage that.
You don’t have to dread paying for your groceries during your weekly shopping trip. Follow these tips to manage these product price hikes!
