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Podcast Script: Cutting Food Costs

One of the discussions I frequently have in my financial education classes with adults is how to save money on food shopping. If someone is having trouble managing a budget, finding ways to cut the cost of food is important.

During the past week I’ve had several conversations with people struggling with finances; in all cases the cost of food came up.  One gentleman was an older man who lived alone and couldn’t quite make his fixed income stretch to cover his spending. In another case a young mother with three boys talked about the amount of food she throws away.  She cooks too much for meals, and no one in her family eats leftovers.  

When the topic of saving money on food came up in class, we had a discussion. What are some tips we can share to cut food costs?  Here are some tips we came up with:

First, plan meals in advance, making a menu for at least a week. When you plan, make sure to include healthy foods, easy-to-make recipes, and leftovers. If all adults in the household work or are in school, planning ahead makes mealtimes less hectic. You know what’s available, and you can prepare a meal faster. Less stress and fewer grumpy hungry people in the house are added benefits.  Planning ahead also allows you to avoid using convenience foods and instead prepare foods with less expensive ingredients.  Planning ahead can also help avoid eating out as often.

When planning meals, consider using fruits, vegetables, whole grains and less meat.  Foods such as lentils, nuts, and beans can be less expensive than meat, while providing many of the same nutrients.

I want to put in a pitch for using leftovers. I’m surprised how many people tell me they won’t eat leftovers.  I live for leftovers. I love coming home from work and realizing (after consulting my meal plan, of course), that I have a meal already prepared. I can also freeze leftovers and use them on another day.

Use your meal plan or menu to make a grocery list and take it shopping.  Use store flyers to determine the best prices on products you need.

Don’t shop when hungry. Everything can look good if you’re hungry, possibly increasing your grocery bill.

Use coupons on brands and products you would buy and use anyway. 

Compare prices on brands by using the unit price shelf tags. 

Try store brands, which are often produced by the same companies as the brand names. 

These are just some of the tips my class provided. What are some ideas you use to cut food costs?