During a down economy consumers look for any number of ways to save money. One significant expense that can be trimmed back is the purchase of groceries, so let’s examine ways that you can save the next time you head out to the supermarket:

Clip Coupons – Maybe you hate clipping coupons, but you really love saving money. This used to be a dilemma that many consumers faced until “clipless” coupons arrived on the scene. Instead of scouring through the ink-stained editions of the Sunday newspaper in search of savings, you can save money on purchases by using your favorite supermarket’s plastic “store card” which will automatically deduct discounts without coupons at the cash register. Just check their weekly four-color flyer to see which items are currently on sale; stock up and save on the best deals.

Buy Generic – Store brands are once again popular as shoppers look for savings apart from the national brands. Not every store product is of the same level of quality as a major brand, but with savings averaging 30% on store mix dark chocolate brownies v. Pillsbury, maybe you should consider the non brand?

Buy Specials – Just as you do when you use “clipless coupons” you can gain significant savings when you buy those items you need when they are offered at a discount. Most stores will limit your quantities to no more than four of any product per visit, which means that you can double or triple your savings via follow up trips to the market.

Shop Full – You’ll spend more on your groceries if you shop when you’re hungry. Your guard may be let down when you’re hungry, enticing you to make unneeded and costly purchases.

Reprioritize Purchases – Americans will often head to the market looking for the best cut of meat, without considering how much it will cost. Have your sirloin tips every now and then but also consider a cheaper side of beef too. Think about those things you buy and never finish – bags of Lay’s potato chips, cans of Coke or Pepsi, fruits and vegetables, etc. Unless you can find a new purpose for unused food, consider cutting back on the amount of food purchased.

Buy Big – The larger your family, the bigger the sized package you will need. Nearly across the board you will save money on purchases if you buy the larger sized version of the same item. Compare what you pay per ounce, pound or other measurement to see how you’re paying for all of your food.

Shop Elsewhere – Your favorite grocery store may be too expensive. Consider shopping private label stores such as Aldi’s or consider BJ’s, Costco and Sam’s Club for warehouse store savings. You may be able to afford shopping at Whole Foods, but only if you find some of what you need elsewhere.

There are many other ways you can save money on your grocery purchases  including visiting farmer’s markets, co-ops, sharing purchases with family members or friends, etc. With a little effort you can save ten percent on your next shopping trip; as much as fifty percent if you use coupons and really watch your spending!

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In 2008, consumers were shocked to see gas prices spike, hurtling past the four dollar a gallon mark and forcing many families to rethink their vacation plans. But gasoline wasn’t the only commodity to increase in price as food prices surged as well, in part because delivery costs increased while demand for some items, such as certain grain products, outstripped supply.

Though gasoline and food prices have retreated from last summer’s highs, there is something else that could threaten costs, possibly putting undue pressure on millions of families. Inflation, which hasn’t reared its ugly head in more than a generation, is poised to make a come back. The culprit? Government debt, including the $700 billion TARP bail out last fall, the proposed $900 billion “stimulus” bill and the likely multi-trillion dollars in additional expenditures coming our way.

All debt must be repaid and it is often left up to succeeding generations to pay off what they’ve inherited. In the meantime, that debt will have to be handled meaning that more monies will go toward servicing that debt than what you have been paying thus far. Likely, by 2010, we’ll see taxes increase across the board which will put pressure on prices to start moving upwards. No one knows how much of a hit we’ll be faced with or when it will kick in, but it will happen.

Stock Up And Save

One way that families can prepare for higher prices is to purchase some of their goods now in advance of price increases. When it comes to food, certain items have a long shelf life and can be kept for many months. This means that you could purchase food items at today’s more reasonable prices and use them many months out when food prices begin to rise. Regardless of when the impact of the federal debt kicks in, higher gas prices this summer will start to move food prices upward as well.

The Virginia Cooperative Extension of Virginia State University has published guidelines for food storage, but we’ll only take a look at long shelf life items, the foods you’ll want to buy in bulk now for later use.

Dried Fruit – If never opened, dried fruits can last for up to six months. Meanwhile, canned fruits and fruit juice have a longer shelf life, up to one year. You’ll want to follow temperature guidelines as extreme temperatures can ruin or shorten the lifespan of what you are storing.

Dry Milk – Fresh dairy milk will last 8 to 20 days, though it is possible to freeze milk and thaw it out months later for consumption. Dry milk, which is often a good alternative to fresh milk, can be stored under cool conditions in an airtight package for up to one year. Evaporated milk has a longer shelf life, 12-23 months.

Corn Meal – At room temperature, corn meal can last for a full year while refrigerating it extends its life to eighteen months, or two full years if frozen. Flour can also last for a full year and for two years if frozen.

Pasta – One of the most popular meals in many family households is one that includes pasta. And for good reason too: pasta is filling, wholesome and has a long two year shelf life.

Rice – Last summer, there was a huge worldwide rush on rice as people who rely upon this staple thought that there was going to be a shortage. Prices spiked and stores such as Costco and Sam’s Club began to limit the number of bags customers could purchase. Brown rice lasts six months; white rice for a full year.

Meats – Besides refrigeration, having meats on hand can be a challenge, unless you are willing to go with the canned variety. Canned ham will last a full year as will corned beef and chili. Most other canned meats will also last a full year including everyone’s favorite mystery meat, spam.

Fish – Like meat, fish has a one year shelf when canned. Includes tuna fish.

Of course, anything that is opened will see its shelf life drastically reduced, perhaps down to just a few days for some items. If buying in bulk, you can transfer items to new, sealable containers, and mark the date on them when it should be used.

Save On Groceries

Besides storage, there are some other ways you can save on groceries, perhaps trimming as much as 30-50% off of your food budget:

Buy Sale Items – You don’t have to be a coupon clipper to save at the grocery store, in fact some items are “clipless” requiring only a store program card to reap savings. Take out your weekly circular and choose those items which are on sale. In many cases, you’ll be limited to four of each, but you can still come away with significant savings.

Shop Wholesale – Sam’s Club, BJ’s and Costco offer wholesale savings on food items, especially big bulky foodstuffs. If you live in an area where there is a food co-op, consider joining for additional savings. At one time in our nation’s history, food cooperatives were the rage. Likely, we’ll see a comeback in them as prices climb.

Shop Discount – The largest discount store in the country is Aldi’s, a German owned food store that also owns Trader Joe’s. With Aldi’s you can find the similar items to what your grocer offers at prices which are far lower than the supermarket. A full 95% of the items are Aldi branded items, some of which compare quite well to name brand foods.

Clip Coupons – Coupon clipping was popular all through the post-WWII era and beyond. Sunday papers and Wednesday inserts make buying your local newspapers worthwhile. Some families buy multiple issues of the Sunday paper, scour for coupons, and then head off to the store for significant savings. Couponing takes a lot of work, but the savings can be phenomenal.

Relying On Yourself And Others

Relying on the government to provide for you could be a strategy that brings you much grief. America has always thrived on self-reliance (with neighborly help) and innovation, two attributes we’ll all need in the months and years ahead whether we’re buying food for our families, saving money, or paying down our debt.

Resources

27 Ways To Save Money On Food

Building A Family Budget

Food Storage Guidelines For Consumers

Tips To Reduce Family Living Costs

Why You Should NOT Eat Out and 20 Easy Recipes

This is the first installment in a three-part series focusing on
important ways you can save money on food, fuel, and fun.

It doesn’t take a genius to realize that the price of most consumer goods are rising and at a pace much higher than the rate of inflation. Thanks to oil prices which are now approaching $150 a barrel, consumers’ wallets are being picked at a rate not seen since the 1970s.

Fortunately, things in 2008 are much different than they were during the 1970s when then president Richard M. Nixon instituted price controls and came up with a silly marketing slogan — Whip Inflation Now (WIN) — to galvanize consumers to battle high costs. Presidents Ford and Carter did little to help either and by the time that Ronald Reagan became president, double digit inflation was becoming a nasty habit.

One area of big concern to people is food, not that we are at risk of starving, but finding good food at reasonable prices. Importing food from abroad has sent prices skyward while various scares relating to salmonella outbreak have put the consumption of tomatoes and spinach in the risky category.

You don’t have to be run over by high food prices, in fact there are ways you can trim costs enough to erase all of the price gains of the past year and then some. Let’s take a look at some smart ways to save:

Coupons — Yes, coupons. Only today you don’t always have to clip them. Thankfully, supermarkets have realized the futility of trying to draw customers in with clippable schemes and have wholly switched to you using a store card. This card, when swiped before your order is tallied, records all store coupons being offered for that week. If you check the store’s circular, you’ll find many of your favorite items being sold at extra low prices.

Discount Stores — Discount food stores are on the rise, thanks to high prices at many local grocers. Shoppers who don’t need a certain ambiance while shopping are visiting Aldi, Food Basics, No Frills, and similar stores. Your selection of name brand items will be less than at conventional stores, but you’ll find enough variety to keep your family happy, while bringing forth savings of 10-50% on your shopping order.

Superstores, Warehouse Clubs — Those big WalMart stores with food sections and stores like them often carry food items for less than what your Kroger, Safeway, A&P, or Pathmark store will charge you. Also, Costco, BJs, and Sam’s Club offer select items in larger quantities but at lower per ounce prices. Naturally, if you are a small family, that 3 lb. jar of pickles could be wasted if not used quickly.

Farmers’ Markets — Fresh produce is getting expensive especially when it must be trucked many miles to your home. Local farmers, on the other hand, prefer to sell direct to consumers where they can get a fair price on their fruits, grains, and vegetables. Many will be glad to pass at least a portion of the savings back to you. There isn’t anything that tastes better than locally grown produce!

Other ways to save include visiting your day old bread store, picking out the occasional dented can being sold at a discount, and switching to store brands or lower cost brands wherever feasible. Just remember that if you have to drive everywhere to find savings, you’ll spend away what you saved at the cash register in gas. Maybe then you’ll give thought to doing something that many Americans don’t do much of these days: grow what you need in your backyard.

Next: Save Money on Fuel

Resources

Lower Housing Costs

Lower Family Care Costs

Lower Recreation Costs

Manage Your Income