How to SAVE MONEY on FOOD despite INFLATION

Inflation is real……….

Does the word “inflation” still sound complicated? One easy way to understand and relate with its effect, is the current high cost of FOOD. While you can cut down on some expenses, food is a necessity of life which cannot be eliminated.

I currently live alone and after my rent the next biggest ticket expense on my monthly money plan is food. Can I safely guess that this is the same for you? If yes, let me share some ways I save on groceries:

Tips and tricks to save money on food

I check local flyers and use price matching before shopping: I compare prices before shopping, I also discovered that lots of grocery stores are willing to price match. To get the price match you might need to show a flyer with the price of the item. The more you can save the more money you have to channel for investment

Eat BEFORE you shop: Studies have shown that going shopping while hungry leads to more impulsive buying. I must confess that when I go shopping on an empty stomach, I buy a lot of food that I shouldn’t. On your journey towards financial freedom, you want to be intentional about your expenses

“Save money on food and still enjoy tasty, good, healthy, and nutritious food so that you can have more money for investment“

Check the reduced / sales section: I’m not ashamed to say that I don’t leave the store without visiting the section where there are reduced/sales item. Here is a warning, ensure you check them thoroughly. Furthermore, ensure you put in place measures to preserve them once you get home. Stocking up on foods that are on sales is a great way to spend less later.

Check the receipt before you leave the store: Always double check your receipt. You want to check that items have not been scanned twice and check for wrong prices. These has helped me, and some stores have given me the items for free where I was incorrectly billed. These savings add up.

Take advantage of foods that can be frozen: Some items like meat, bread, vegetables etc can be frozen. If it seems like it’s about to go bad rather than throw it away before it goes bad freeze it. I always freeze these items as soon as I get them.

Eat at home: In the last two months I spent heavily on eating out. There was a lot of celebration and to switch things up we thought to eat out. You know as much as I do that eating out does not come cheap. This month I’ve gotten back on track and eating more home-made food.

Buy in bulk: I love to buy things in bulk especially when it’s the season. In summer of 2021 when vegetables where cheap, my sister and I teamed up and both a few boxes, froze them which lasted us over 6 months. You can decide to do same.

Follow a meal plan: A meal plan reduces the stress of thinking about what to eat and helps you save money. If you don’t have one, I believe you can get one by searching google or check out cooking blogs and youtube videos

If you have kids, when taking them out pack their snacks, water, and drinks. Take things you have in the house that can fill the children, so you don’t have to stop at fast food.

Reinvent your leftovers to make more tasty meals and avoid waste. Food wastage is money wastage. I would like to add here don’t be loyal to brands be loyal to your money and stick to your budget

Find substitutes for meat: The cost of meat is on the high side in my opinion. The way I save on this is to team up and share the cost. I also substitute with other form of protein like tofu, egg, fish, vegetables.

Invest in kitchen appliances they will save you time and money e.g. Air fryer, Freezer, juice extractor

Summary

My recommendation that you keep track of what you are spending on food. When it is measured, it can be controlled and corrected if needed. Which one of these tips and tricks are you already practicing and which one would you start going forward?

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ABOUT THE AUTHOR

pfmAcademy is committed to helping young professionals become intentional about their finance through practical personal financial management tips. Check our about page

Before I joined PFM Academy, I was just a classroom teacher and a lover of make-up. Like, if I were taken to a drugstore on a blank cheque, I will go for all the makeup items in that store. Then, one evening I had a 1-1 session with Tolu from PFM (we use to be church members during our childhood) and she asked how I was doing in my profession. I complained on how “Teachers take home, were unable to take them home here in Nigeria” she asked of my passion and encouraged that I could use that to start a ‘side blessing’ that’s what she tagged it. During the lock down I enrolled for a makeup course where I came out second best and boom! I began my side blessing after that. I makeup people for good money and yes, I still buy makeup products but this time, I buy for people and then make my profit. Thank you, Sis.