Yahoo Finance Dave Ramsey Says Groceries Are the ‘Easiest’ Budget Item To Overspend On — Here’s 5 New Ways To Save
Dave Ramsey has given some pretty solid advice as of late, including how to change simple behaviors to become a millionaire, avoiding frugal moves that can “cost you” and financial products that you can do without. And now, the money master has shared some thoughts on groceries.
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In a tweet on April 2, Ramsey shared, “Food is one of the easiest budget categories to overspend on. If you can get that under control each month, your entire budget can change.”
Food is one of the easiest budget categories to overspend on. If you can get that under control each month, your entire budget can change.
— Dave Ramsey (@DaveRamsey) April 2, 2023
There is truth to his claims. According to CNBC, Americans overspend by $7,400 every single year with grocery shopping coming in at spot number two of the top 10 over-expenditures. It’s said that consumers surpass their food budget 39% of the time.
Of course, inflation has become a huge contributing factor. Per Lending Tree, weekly grocery shopping has increased by 17% on average due to the surge in costs — pre-pandemic, weekly bills came in around $163; now it’s more like $190. But if you want to take Ramsey’s advice, there are ways to get grocery spending under control and stick to your budget. Even if you’ve already downloaded all the cash-back money-saving apps you can, clipped coupons and joined warehouse clubs like Costco to save money, there are still a few more tactics worth a try. Here are 5 key ideas.
1. Get Freezer Friendly
You may not find incredible deals like chop meat for 99 cents a pound anymore (with the average price of ground beef closer to $4.64 per pound, based on the latest Bureau of Labor Statistics report), but you can still snag deals if you watch store flyers or use apps such as Honey to find the lowest prices.
When you do find sales, especially buy one, get one free deals, stock your freezer. Just make sure to wrap meats tightly and use freezer bags for storage. Beef, veal, lamb and pork should last 4 to 12 months in the freezer, ground beef up to four months, and poultry as long as a year, according to FoodSafety.org.
2. Try Your Hand at Meal Planning
Stocking up on sales also means an opportunity to meal plan and cook for the week. This can save you time and money. It’s typically cheaper to cook in batches, since food in bulk costs less per pound. Plus, you’ll have less food waste, which also saves money.
If you aren’t the type who can eat the same meals every day for a week (or even a few days in a row), cook food in batches and freeze it for later meals. According to Reader’s Digest, meal planning has the potential to save you roughly $500 per month.
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3. Have a Leftover Day
Meal planning can help eliminate leftovers. However, if you aren’t the type to think that far ahead, use one day of the week to heat and eat all your leftovers. This could mean turning leftover taco meat and cheese into a casserole, or letting everyone in the family pick and choose from their favorite leftovers. You’ll create a smorgasbord of foods at your dinner table, which can be a lot of fun for kids.
4. Shop at Off Times
Saving money at grocery stores can take time. When you shop, read labels and compare unit prices — not the total retail price. You may find a larger box of cereal or crackers costs less than the smaller one. But only buy the bigger item if you will eat it or can store it safely.
Shopping at off times gives you more of a chance to compare prices without pressure, according to The Kitchn. Merlin, a participant in the website’s “Grocery Diaries” feature, said, “It gives me more time to look at things and I’m not dealing with the stress of having to stay out of, or getting in, people’s way.”
Use Google Maps to find out when your preferred store is the least busy.
5. Don’t Store Hop
You might think you can save money by shopping the sales at a variety of stores each week. But in truth, you’ll burn more gas, spend more time shopping and increase the urge to impulse shop. After all, every store will have enticing specials you don’t really need. And isn’t it easier to walk past just one grocery store bake shop, with those enticing pies and muffins, than three?
Of course, you can take this to an extreme and shop online through Instacart, Amazon Fresh or any grocery delivery service. But you’ll then pay delivery surcharges and higher prices. If you prefer to shop in a store, choose the one with the best sales for that week or lowest prices overall on the staples you buy regularly.
As grocery prices continue to rise, it takes some savvy shopping skills to save money. By planning ahead and following these tips, you may find that your family is not just eating cheaper, but also eating healthier. And that can pay big dividends in the future.
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Selena Fragassi contributed to this article.
This article originally appeared on GOBankingRates.com: Dave Ramsey Says Groceries Are the ‘Easiest’ Budget Item To Overspend On — Here’s 5 New Ways To Save
