How to fight rising food costs
Planning your meals will help you save.
This post comes from Lisa Wade McCormick at partner blog ConsumerAffairs.com.
family of five now spends an average of $135 a week on groceries,
according to the Food Marketing Institute's U.S. Grocery Shopper Trends
report for 2008. Fuel costs and other
economic concerns could force that grocery bill to climb even higher.
- Bing: Find grocery coupons
are already feeling the pinch of high food costs on their pocketbooks,
and many have changed their eating and shopping habits, the survey
71% of American consumers say they're cooking more at home and eating out less often.
American families now eat at restaurants 1.2 times per week. That's down from 1.3 times per week in 2007 and 1.5 times per week in 2006.
67% of consumers say they're buying fewer luxury foods.
60% now buy more store-brand items.
58% eat more leftovers.
Consumers now make fewer trips each week to the grocery store -- less than two per week.
37% of consumers list "low prices" as the main reason for where they shop. That's up from 31% in 2007.
Steps to take
concerns about rising food costs continue to grow, consumers can take
some simple steps to save money on their grocery bills.
The first is to plan your meals, says Kate Yerxa, a registered and licensed dietitian with the University of Maine's Cooperative Extension.
a plan for the week -- either starting with dinners or dinners and
lunches," she says. "Look at your family's schedule and plan your meals
according. You also want to plan for a leftovers night. If you make a
big casserole, you can have it another night.
"The biggest thing is to plan your meals."
The next money-saving tip is to make a list of the items you need for those meals.
your pantry to see what you have on hand and make your list from
there," Yerxa says. "Use a list at the grocery store and stick to that
list. Try to avoid impulse buying."
Yerxa also cautions consumers to use coupons carefully.
can be deceiving and you have to compare prices to be sure you're
getting a deal," she says. "Is a coupon for a brand item, for example,
going to make the price less than a store brand?
"You also want
to be sure the coupon is for an item that you need and use. You don't
want to spend money on something you don't use. Coupons can be a great
or not so great."
Yerxa also recommends these tips to stretch your food dollars:
Shop alone when possible. "You're more focused when you're alone," she says. "If you have children, they might want you to buy a certain item that is targeted at their age group."
Avoid prepackaged items. They tend to be more expensive. "If you look at prepackaged snacks, like microwave popcorn, what you're really paying for is convenience," Yerxa says. "It would be cheaper to make popcorn with a hot-air popper. You can make a large bag of popcorn and use it for snacks in a lunchbox. It all goes back to convenience."
Limit foods like soda pop, candy, alcohol, coffee and tea. These items are high in cost and low in nutrients.
When shopping for milk, cheese and yogurt, buy the largest containers you will use. Large containers usually cost less per unit.
Buy cereal in large boxes. Small, individual packages are more expensive per unit.
Buy fruits and vegetables that are in season. They will be less expensive. "But if fresh produce is something your family tends not to eat, don't buy it," Yerxa says. "You don't want to waste money on something your family doesn't eat."
When planning a meal, look for lower-cost items. "Consider lentils, dry beans, and even eggs," Yerxa says. "And remember that it's OK to plan breakfast for dinner. You don't have to focus all your meals around meat."
Consider lower-priced meats. Ground beef or turkey, chicken, beef chuck steak, and turkey parts are usually good buys. Try combining small amounts of lower-cost meats, poultry and fish with bread, cereal, rice, pasta or potatoes for main dishes. Dry beans, dry peas, eggs and peanut butter can also be used in casseroles, soups, salads and snacks. And lentils and dry beans can be cooked in a slow cooker.
Avoid vegetables sold with seasonings and sauces. Plain frozen and canned vegetables often cost much less.
Ask a store manager about any weekly sales.
Limit the number of trips you make to the grocery store. "You don't want to keep going back to the store every day," Yerxa says. "There's a tendency to say 'I need a gallon of milk,' and then walk out $20 later."
Compare prices. This includes store brands versus name brands. "It's all comparison shopping," Yerxa says. "You have to look at the unit prices." Some consumers carry calculators to help them determine the lowest unit prices.
Buy and freeze bread when it's on sale. "The cost of bread is increasing due to the cost of flour," Yerxa says. "But bread has such great health benefits. If you find it on sale, buy it and freeze it."
Make your own snack mixes. "Instead of buying prepackaged cereal and nut mixes, make your own," Yerxa says.
Buy regular rice, oats and cereal. The instant ones cost more than twice as much per serving.
Plant a garden. Consumers can start with something as simple as growing a few herbs. Many consumers also plan community gardens.
Research the cost of bulk items. "This is again where you need to figure out the unit price," Yerxa says. "Sometimes the warehouse prices are not less expensive than store prices; sometimes they're a great deal. You also want to be sure the items you're buying in bulk are ones your family uses -- and that you have adequate storage for them."
Track your food costs. "This should include the food you eat at home and any food eaten away from home," Yerxa says. "I think people will be surprised to see how much they spend (on food) away from home and how much they can save by not buying things on the go. That $10 you spend on lunch could be spent on fruits and veggies for the week."
The increasing costs of groceries, however, might trigger a positive trend.
"Food retailers can turn these economic challenges into benefits for consumers and the industry," says FMI president and CEO Tim Hammonds. "As people eat out less often, we can help revive the great American home family meal tradition. This presents retailers an opportunity to win back a share of the meal-time market long owned by restaurants, and it provides American families important health, economic and social benefits."
Published May 15, 2008
Copyright © 2013 Microsoft. All rights reserved.
Quotes are real-time for NASDAQ, NYSE and AMEX. See delay times for other exchanges.
Fundamental company data and historical chart data provided by Thomson Reuters (click for restrictions). Real-time quotes provided by BATS Exchange. Real-time index quotes and delayed quotes supplied by Interactive Data Real-Time Services. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by SIX Financial Information.
ABOUT SMART SPENDING
LATEST BLOG POSTS
Think saving money, paying bills, comparing prices and shopping for deals take way too much work? All of these can be done with very little effort on your part.