Budget is one of the most frequently used terms when it comes to money. Budgeting is encouraged so you can see where your money is going and where it could be used better.
So, let’s talk about the one item on everyone’s budget: groceries. This is an expense you can’t escape. We must eat to live, right?
Since the start of the pandemic, the cost of groceries has increased by 2.4 percent, and it’s estimated that in the first quarter of 2022, the overall increase will be 5 percent. This impacts your budget when you have a fixed amount to spend monthly on food.
Don’t let the cost increase of a main budget item affect your main course. Here are some tips you can try to weather the price hike:
- Plan simpler meals to cook.
- Count those pennies as you place items in your cart.
- Use what you have in your cabinet and pantry. Make meals based on what you have instead of buying more stuff.
- If your household does not require bulk items, don’t buy them. For example, if it’s just you, don’t buy four-count bottles of ketchup, 24-count muffins, etc.
- Pack and store it up in the freezer.
- Limit brand-name foods as much as possible.
- Buy more non-perishable food items with a longer shelf life
We may not be able to escape increased grocery costs, but we can control excess spending. Adjust your grocery shopping comfort zone and give your wallet some breathing room by being a purposeful shopper. I go to different stores based on their prices and quality, and if it’s not in my budget, I will not purchase it.
A FEW STRATEGIES THAT HAVE HELPED ME BE A MORE MINDFUL SHOPPER INCLUDE:
- Starting a list instead of running to the store frequently
- Sticking to your list, no matter how tempting an item might be
- Not going grocery shopping hungry
- Making a price comparison
As you plan your food budget for you and your family, remember to shop according to your household. Buy items you need; save purchasing the items you want for special occasions. Where there’s a discount, you’ll find your happy shopping place.
Janera Harvey is a money coach, certified credit counselor and owner of The Credit Journey LLC. Reach her at info@thecreditjourneyllc.com.
