Posted on: May 19, 2008
More Bag for Your Buck
With the cost of groceries on the rise, American families are spending more than ever at the store. Here's how to cut back on big spending
By Christina Owens
CTW Features
Paper or plastic may no longer be the biggest dilemma facing grocery shoppers. According to a new study by the U.S. Department of Labor, on average American families spend $8, 513 a year on groceries or $709 a month. Studies also show food prices rose in the U.S. last year by 4 percent, according to the U.S. Department of Agriculture. While most Americans continue to spend sizable portions of their income on groceries, the key to lowering the grocery bill may be a matter of maximizing opportunities to save and reducing the number of visits to the store.
Sissy Osteen, a resource management specialist at Oklahoma State University Cooperative Extension, Stillwater, recommends consumers make a big trip only once or twice a month. "The fewer times you're in the store, the less opportunity you'll have for impulse buying," she says. "Research indicates that consumers making a 'quick trip' to the store end up spending 54 percent more than they intended."
Ellie Kay, author of "1/2 Price Living" (Moody Publishers, 2007), says impulse buying usually increases when the primary shopper brings children or a spouse to the store. "For each child that you bring along with you, you could be paying as much as 10 to 15 percent more on your bill," she says. She recommends consumers make a list, shop alone, and only buy what's needed. Kay also suggests shoppers use more than one coupon at a time on products already on sale. "My whole approach is not buying things when you need them," she says. "It's buying things when you can get them on sale."
Osteen says shoppers can also save money by purchasing the generic brand instead of national brand items. "In most cases you won't sacrifice much in quality," she says. "Everything from cereal and frozen vegetables to canned goods and prescription drugs is available under a generic or store brand label. You can save from a few cents to a couple of dollars per item. The savings can quickly add up."
Generic brands while usually cheaper, may not last as long or work as well, Kay says. "A related mistake that consumers are making today is the idea that cheaper means better value," she says. "They both go hand in hand. Bottom line value is what you need to look at, not necessarily if it's cheaper. How far will this product go for the price?"
