How to save on your food bill

I read this article earlier in the week and thought it added very nicely to the budgeting advice that appears in Geoff Orr’s book “Your Future: Shape It”:

  • Make a list before you go grocery shopping – you’ll be less inclined to buy items you don’t need.
  • Don’t shop for groceries when you’re hungry – studies have shown that when you’re hungry you’re more likely to buy unhealthy or expensive foods.
  • Don’t be a brand snob – be a brand slut.  Does the more expensive brand really taste better than the home brand that’s probably been made by the same company but under licence?
  • Rather than buying bottled water, use a re-usable on and drink tap water for free.
  • Cut down on take-away coffee – one $4 coffee a day is costing you more than $1,000 a year.
  • Pack your own lunch for work – a roll and drink each day is costing around $10 per day: more than $2,500 a year.

How you could save up to $150 a month in groceries

Shoppers who complain that supermarket prices are rising too quickly are being urged to change their habits, with an exclusive study for 9NEWS revealing the real price of groceries is in the shopper’s hands.

For each of the past five years, supermarket prices have been flat, or even falling, but some consumers are still seeing the price at the checkout counter increasing.

“We’re selling certain things for the same money we were selling them for five years ago,” Harbord Growers Market’s Amerigo Gerace said.

But if your bill is still going up, experts are urging you to look what you’re putting in the basket.

The main trick to shopping smarter is by using unit pricing – comparing the price of items per kilo, litre or gram.*

“By actually looking at the number on the ticket, the unit price, we’re able to make consumers make more informed decisions,” QUT Business school’s Dr Gary Mortimer said.

A study by Queensland University found that by comparing unit prices, the typical family could save up to $1700 a year.

Experts also warned shoppers should resist buying more and stockpiling items that may end up going to waste.

Posted at 7:49pm Aug 8, 2017 by 9 News

* Our recent experience in the grocery stores is that smaller packages of goods are on sale for less per kilogram than the bigger packs of the same items – buy more of the smaller packs.

CategoryBudgeting
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