How to budget for grocery and ways you can stick to it
Your grocery bill can pile up before you know it. Apart from buying pantry staples, you also need to purchase items for the home such as cleaning agents, laundry essentials, and if you have a fur baby, pet supplies. These items may seem affordable at first, but they can eat up a major part of your monthly budget.
When it comes to groceries, it is important to spend within a budget. This is especially true if you are shopping for a large family. There are a few things you can do to help keep your reasonable grocery budget.
How to budget for groceries
Track previous expenses
Before anything else, you need to have a baseline. Tracking your spending helps determine how much you spend on groceries each month and on what kinds of items. A quick way to do this is to look back on all of your past grocery receipts and bills. If you have the time, create a list or a spreadsheet that contains what you purchased and how much you spent on them. On your list, identify which ones are needs or essentials, and which ones are wants. From there you’ll be able to see where you can lessen your spending. This way, you can analyze which ones to lessen or replace with a more affordable alternative.
Allocate spending money
Now that you have a clear picture of how much you spend on groceries and where you can cut back on spending, you can determine your total grocery budget. Some people set aside 10-20% of their income on groceries each month, but this may not work for everyone. Start with setting aside 10% of your monthly income and see if it lines up with your tracked expenses. Work your way up from there until you reach an amount that works for you and your family.
Plan your meals
Before going to the grocery store, come up with a weekly meal plan for your household. Apart from your three daily meals, include snacks and treats as well if it’s still within budget. This helps you keep your costs and your food wastage low.
Compare stores and make a list
Take some time to research different stores in your area. Compare prices on staple items like milk, bread, and eggs. You may find that one store consistently has lower prices than others. Once you have found a few affordable stores, make a list before you go grocery shopping. This will help you stick to buying only what you need.
Buy in bulk
Another way to go grocery shopping on a budget is to buy in bulk when possible. This goes against the Filipino trait of buying tingi (or items in smaller, often single-use packaging) but items sold in bulk are actually cheaper per piece than those sold tingi. This can be helpful for items that you use often and don’t go bad quickly, such as rice, pasta, and canned goods. Buying in bulk can also be a good way to save money on meat. If you have the freezer space, buying a larger quantity of meat and portioning it out can be more affordable than purchasing smaller amounts frequently.
Use discount codes and coupons
Take advantage of discounts and coupons. Many stores offer loyalty programs that give you access to exclusive deals and coupons. You can often find coupons and promo codes online. You can also opt to shop for non-perishables online during monthly sales to get huge discounts. Finally, you can also get big discounts by using your credit card when shopping for goods. Many card issuers offer discounts and rebates from their partner establishments, so make sure you keep an eye out for those.
Keep track of your groceries
Stick a whiteboard or a sheet of paper on your refrigerator and pantry and list down all the contents and the expiration dates of each one. This helps you keep track of the items you still have and encourages you to consume them entirely before they spoil. It’s also a good way to avoid repurchasing items you still have.
Eat before going to the grocery
A survey by Medical Daily found that hungry shoppers spent more on grocery items than those who are full. 64% of those they surveyed purchased items they normally wouldn’t have. This is because hunger causes us to search for food and want to store it. If you want to keep your grocery bill low, go shopping after you’ve eaten a hearty meal.
Get creative with leftovers
It’s normal for households to have leftovers after eating. Instead of throwing these out, keep them for future meals. Eating leftovers may be boring, so try to get creative with it! Yesterday’s pork and chicken adobo can be today’s adobo fried rice. Stale bread can be transformed into delicious French toast.
Freeze food
If you have excess food that you won’t be able to eat before spoilage (such as leftover vegetables, bread, and even eggs), don’t throw them out. Instead, transfer them to resealable bags and write down the day you froze them. This is a good way for you to extend their shelf life. Vegetables can last another 8 months in the freezer, bread up to 6 months, and ground beef for 4 months. You can also freeze leftovers. Depending on the kind of dish it is and its components, frozen leftovers can last anywhere from 1 to 6 months.
Now that you’ve learned how to budget for groceries, you can mix and match tips to find ones that suit you. Additionally, you can save on your groceries whenever you use your Metrobank Cashback Visa card. Apply for a Metrobank card or upgrade yours today.
