Your Food Budget
The Agri‑Food Analytics Lab, a collaborative effort by Dalhousie University and ten other respected Canadian universities, recently published Canada’s Food Price Report.
They estimated that the average family of four will spend $17,572 on food this year, or $1,464 each month. This is 27 percent more than five years ago.
But you can significantly lower your costs with just a bit of time and planning. And the more time and planning you put into it, the more you will save. Planning Clever consumers enter the grocery store with a detailed, well-organized list. This is tantamount to arriving with a weapon in your hand to fight against the waste of money. This will save you both time and money, and allow you to outsmart those clever marketers who spend their time and talents devising ways to sucker you into buying expensive, wasteful items on impulse.
Let’s Get Started
We recommend you start with an inventory of all the food already in your home. We know of households with more than six months’ worth of food stored in cupboards, pantries and freezers. This is likely to result in spoilage, which is like throwing cash in the trash.
Please check the expiry dates on all items and arrange them with the closest expiry dates at the front, following the FIFO (First-In, First-Out) method. Review your inventory and consider what you need to complement what you already have. Create a meal plan and add some of these items to your list, noting the rest for later.
A notepad and pen attached to your fridge with a magnet will alert you as to items you need or are running low on.
Since newspapers with inserted flyers are going the way of the dodo, we must now learn what is on sale online. Be wary: Marketers are getting creative with flyer content. You’ll see larger-than-life-sized images of the most delectable strawberries you’ve ever seen in your life. Before you add the fruit to your list, read the advertisement carefully to ensure that strawberries are actually on sale.
Larger supermarkets tend to be cheaper than smaller ones due to volume discounts. Grocery chains strive to match competitors’ prices, but if they miss something (accidentally or deliberately), you must prove the item is on sale elsewhere to qualify for the lower price. And without printed flyers, you need a cell phone with internet access to use as proof of a better buy at a different store.
Stores offer “loss leaders” every week – items that are priced below what the store paid for them. They’re hoping to entice customers into the store who will then purchase other items in addition to the sale items. Don’t miss out on these super bargains. Some stores offer “rain checks” when they are out of an item that is on sale. Ask if your grocery store has such a policy.
Give your list a harsh reality review when it is complete. Cross off anything and everything that you don’t need. Then arrange your list according to the layout of the store you shop in, creating a map. Stores have figured out that the longer you stay, the more you spend, and that impulse purchases are hard on the budget. Ergo, you want to spend as little time in the store as possible, while ensuring you get everything you need in one trip. We advise that you hit the frozen food section last.
Set the Mood
You probably know you’ll buy more if you shop when hungry. Grocery stores take full advantage of this by wafting tempting bakery aromas over shoppers as they enter. And almost everything in the grocery store looks good when you have an empty belly.
However, you may not be aware that the same rule applies to those who shop when they are tired, sad or angry. It is best to be fully alert in the grocery store lest expensive impulse items fill your shopping cart while bargains pass you by.
When to Shop
Find out which day(s) your favorite grocery store receives its delivery order. Shopping later that day or the following day means you are more likely to score loss-leader items that are available in limited quantities and sell out fast.
Price Books
Clever consumers know the regular prices of items they routinely purchase, allowing them to quickly determine what is and isn’t a genuine bargain. For those looking to improve their pricing knowledge, we recommend creating and maintaining a price book. This will allow you to save big bucks by recognizing a true bargain and knowing when to stock up on an item.
Start with a pocket-sized notepad and create sections for different areas of the grocery store, such as dairy and produce. Use the book to note the price, brand and size of the items you often purchase. You can also make notes while reviewing your flyers, at the store or at home after unpacking your groceries.
