5 Creative Tips to Save Money on Groceries
Grocery shopping is a HUGE expense for many households, and finding ways to save money on groceries can make a big difference in your budget. With food prices rising and inflation affecting everyone, it's more important than ever to be smart about grocery shopping. In this blog post, I'll share some unique tips to help you save money on groceries without sacrificing quality or flavor. By following these tips, you'll not only cut your grocery bill but also have more money to put towards other financial goals.
1. Buy in Bulk with a Group
When I was in my late 20’s I splurged on a basic Costco membership thinking it would save me money by buy in bulk. But the problem was that I was living alone, so I was throwing away SO much spoiled produce, expired milk, and moldy cheese. Buying in bulk can save you money, but it's not always practical for smaller households or individuals. Consider forming a buying group with friends or family to split bulk purchases. This way, you can take advantage of bulk discounts without ending up with excessive quantities. It's a great way to get high-quality items at lower prices while reducing waste.
2. Look for Cheap Takeaway (hear me out)
While anyone can go buy a wholesale membership and buy food in bulk to save, it’s nothing compared to the discounts that restaurants get access to. Sometimes, it’s actually cheaper to buy large platters of food from restaurants than to buy and cook it yourself. For example, there’s a large country-style restaurant in my hometown where I can buy a large platter of grilled chicken breasts (10+ pieces) that freeze well, are cooked to perfection, are ready to toss into meals (pasta, salad, meal prep, etc.), AND it’s actually cheaper to order and pick up the platter of chicken than it is for me to go buy it at Costco and make it myself. It certainly takes some looking through menus online to find gems like this one, but they’re out there! Some chain restaurants have catering platters or catering menus, and many Mediterranean and Middle Eastern restaurants offer family platters that are filled with versatile proteins that can be used to make your meal prep not only easier, but also cheaper.
One other hot tip is to avoid looking up menu prices on food delivery apps- most restaurants have to raise their prices on the apps to make it worthwhile, so make sure you go to the restaurant’s website to compare prices.
3. Use Unit Pricing to Compare
While you should always take a peek at unit pricing when deciding between 2 similar items, it’s especially handy when you’re buying produce. Sometimes the loose produce (like single apples or carrots) is much cheaper, but other times you can save big by switching to the pre-bagged item (like a pack of 6 apples). When you’re looking at the prices, there’s always a unit price written on the price label that will allow you to compare prices. For example, the loose items might be priced at $3.99/lb, while the bagged items are prices at $5.40/lb. So instead of focusing solely on the overall price of an item, look at the unit price, which tells you the cost per weight or volume. Sometimes, larger packages or bulk items seem like a better deal but aren't when you consider the unit price. Comparing unit prices helps you make more informed choices.
4. Freeze Meal Prep and Excess Produce
If you have extra produce that you know you won’t get through before it goes bad, get into the habit of freezing it! Invest in a good set of freezer bags or containers and freeze them for future use. For example, I enjoy having smoothies for breakfast, so when I buy a bunch of bananas I know I’m only going to use 3-4 bananas from the bunch before they go bad. So if I have extra, I’ll quickly take the peel off, break them in half, and pop them in the freezer to use for a smoothie when I inevitably run out of fresh bananas or can’t get to the store to buy some extras. I also do this with rice, by cooking a large batch and then freezing single portions that defrost perfectly in the microwave when I need a quick dinner and don’t feel like cooking. You can even do this with most sauces (like the leftover tomato sauce from last night’s dinner), or the half-can of coconut milk that you used for a recipe and don’t know what to do with the rest.
5. Leverage Apps and Rewards Programs
Cashback apps and grocery rewards programs can help you save money on groceries over time. Couponing apps like Flipp, allow you to easily save coupons to use in when you’re at the store, and apps like Ibotta or Checkout 51 offer cashback on specific items. Store loyalty programs often provide discounts or points for every purchase (like PC Optimum). And many credit cards offer extra points or cashback when you purchase groceries, so make sure you’re using the best card at checkout to maximize your savings.
Sometimes creativity can go a long way when it comes to saving money, especially on essentials like groceries. Hopefully by implementing these slightly-odd-yet-practical tips, you can cut your grocery bill without compromising on quality or flavour. With a bit of creativity and flexibility, you can enjoy significant savings and put that extra money towards other financial goals (like saving up for a house, going on that dream vacation, or even retiring early)
About The Author
Amanda and Siobhan found a shared passion for personal finance shortly after completing their MBAs in 2018. Amanda excelled as a Director of Product in the tech industry, while Siobhan established herself as a leader in e-commerce before transitioning to academia as a Professor.
In 2020, they joined forces to found Hiver Academy, a platform born from their own experiences and triumphs in conquering student loans and building wealth. Realizing that financial success is within reach once the complexities are simplified, their mission now revolves around empowering individuals to achieve financial freedom.
With a wealth of knowledge and a commitment to demystifying money and investing, Amanda and Siobhan are dedicated to helping others navigate the path to success.
