Save Money on Food
Satisfy the hunger without starving your wallet. Here are ten ways to save money on groceries and dining out.
February 21, 2008
Advertisement
You gotta eat. The trick is to satisfy the hunger without starving your wallet.
According to the U.S. Department of Labor, the average American family of four spends $8,513 per year on groceries -- that's $709 per month! And many of us blow our budgets further on restaurant meals.
We've got ten ways to save money on food, whether you're eating in or out. We've laid out our list in text format below, or you can check them out in our slide show. Plus, you can share your favorite ways to save in our reader comment box at the end of this article.
LEARN TO COOK
Eating out is a huge budget buster. Even seemingly inexpensive fast food can add up quickly. Cooking your own meals could save you a small fortune on restaurants and groceries (you'll buy fewer pricey frozen and prepared meals). Plus, you could make dating cheaper -- who wouldn't be impressed by a cozy dinner?
Scour the Web for simple recipes to get your feet wet, or check out beginner cook books at your local bookstore.
TAKE FEWER TRIPS TO THE GROCERY STORE
Making bigger shopping trips less often will cut down on your impulse buys. In fact, almost half of all shoppers go to the store three or four times per week. Shoppers making a "quick trip" to the store usually purchase 54% more than they planned, according to a study published by the Marketing Science Institute.
If you go to the store three times a week and spend $10 on impulse buys each trip, that adds up to $120 extra per month. But if you go only once a week, you'll spend $40 per month on impulse buys. That saves you $80 per month, or $960 per year.
BREAK YOUR RESTAURANT ROUTINE
This may seem obvious, but we are creatures of habit and convenience. Make an effort to cut back a little, such as dining out once a week instead of three nights a week. With $20 meals, this simple act will trim your expenses by $160 a month.
Or, try something different –- and cheaper. Pick up a restaurant guide or a tour book of your city for budget-friendly suggestions. If you eat out three times a week, cutting just $5 from each meal ticket will save you $60 a month.
BRING YOUR LUNCH TO WORK
Spending just $2 a day on a home-made lunch versus $6 a day on the sandwich shop next to the office will save you about $80 a month and $960 each year.
GROCERY SHOP WITH FOCUS
Another way to cut down on impulse buys is to shop with a list. Sketch out the week's meals and jot down the ingredients you'll need. Remember to factor in treats, snacks and lunches. Then stick to the list.
You might find it helpful to leave the kids at home so you're not tempted to give into pressure from crying children for an extra treat or toy that isn't on your list.
BUY GENERIC
You can almost always save money by choosing a no-name brand instead of a brand name. And you usually won't sacrifice much in quality on many items, from cereal to canned goods and frozen vegetables. Also, the savings on generic baby formula and prescription drugs can be huge.
You could save a few cents to a couple of dollars per item. And that adds up quickly each month.
MAKE YOUR OWN LATTE
That daily $4 cup of coffee is costing you $120 per month -- or more than $1,400 per year. Invest in a good-quality machine and make your own brew for much less.
Or kick the caffeine habit altogether and enjoy the health benefits along with the financial.
USE COUPONS
You know about coupons for groceries. But don't overlook bargains for dining out.
For instance, at Restaurant.com you can get a $25 gift certificate to local restaurants for only $10. Use the coupon once a week, and you'll save $60 per month.
Or, before you dine out, hit the Web. At http://www.retailmenot.com/coupons/food, you can quickly find printable coupons and codes for dozens of eateries.
TIME YOUR MEAL
No, eating quickly won't make the bill smaller. Rather, consider eating out for lunch instead of dinner. That way, you can get lunch-menu prices for dinner-quality entrees.
MIND THE UNIT PRICE
Many grocery store tags will tell you how much an item costs per ounce, per pound or by some other unit of measure. Comparison-shop by unit price and save.
For example, a pack of 40 diapers at our local drug store cost $13, or 33 cents per diaper. A box of 144 diapers cost $35, or 24 cents per diaper. A difference of 9 cents may not seem like much, but when you change a diaper six to eight times each day, that amounts to a savings of $16 to $22 per month.
One caveat: Don't buy in bulk if you won't use it all -- otherwise, you wasted your money, no matter how good a deal it was.
MORE WAYS TO SAVE MONEY
Save Money on Investing
Save Money on Transportation
Save Money on Travel
Save Money on Utilities
Save Money on Phone, Internet and TV
Save Money on Credit, Debt & Banking
Save Money on Entertainment
Reader Comments (10)
Posted by: c at 03/01/2008 10:10:07 AM
Most of this article focuses on not eating out instead of really looking at ways particularly families can save on increasing food costs. I think the author could do a much better job looking at solution that are meaningful besides buying generic. Just last week I realized that I could buy some organic vegetables less expensive at Whole Foods than conventional foods at Walmart. Things like boxed cereals are outrageous when compared to oatmeal or bulk granola - or make your own, its really not complicated. If you are ANYWHERE near a farmer you will save a bundle. My food bill doubled when I left Southern CA for a Gulf coast city - no farmers and no Trader Joes which has things sometimes half the price of a regular grocery...
Posted by: M at 03/08/2008 10:11:35 PM
I agree with the previous comment - I was hoping for some real serious referrals to sites for coupons etc. I think most of us know the basics and need help with where to go to get those extra deals.....I find myself 'suddenly single' at 62 and disabled and scared to death that I am going to have to chose between food and medication when the alimony runs out!
Posted by: carolg at 05/19/2008 11:14:33 AM
I'm already doing most of these things, and was hoping for a little more focused look at saving on food. I mean, really... learn to cook? Eat out only once a week? (We eat out twice a MONTH.) Check the unit costs? Okay, so maybe I was lucky to grow up in a cost-cutting household and learn this stuff from my mom, and maybe I'm unusual..
Posted by: Kimberly at 05/20/2008 09:26:57 AM
I'm already doing all of this!!!... All you have to do is use some common sense. However, I did not know about Restaurant.com, so thanks for that.
Posted by: Dixintex at 05/20/2008 09:33:41 AM
Eating out has been a way of life for this generation. Most my friends NEVER cook at home! Instead, this generation eats out just about every night, and on the nights they don't eat out, they order out and have it delivered!...
Posted by: Jean at 05/20/2008 11:05:28 AM
We have only 3 stores in my community that sell groceries. I take advantage of Wal-Marts "ad match" store policy. If another store has butter $ 1.69 a pound LIMIT 2 - I ad match at Wal-Marts ($2.89 a pound) where they have no limit and buy 10-12 pounds at a time and freeze for later. Canned veggies(usually corn, peas, beans) on sale 3 for $1.00 LIMIT 6 at one store- I buy with NO limit at Wal-Mart and stock up on all sorts of vegetable varieties...They will keep until I need them. I watch for drastic Wal-Mart markdowns too...Use coupons as well on sale items for even greater buys. WATCH your receipts....
Posted by: marla at 06/23/2008 11:37:22 AM
We have learned to take advantage of the local food bank. As long as we make under 50,000 a year we can shop there once a week! I am a SAHM and this frees up money for other things we might need...I was embarrass(ed) at first but then I saw other colleged educated people using it too...it isn't too bad as it isn't the extreme poor that use the food bank as they get food stamps! Most of the people I see there are working but whole foods prices are so high!
Posted by: Fred M at 07/31/2008 02:03:16 PM
I use Zimini to get all sorts of coupons and special offers. All of the the offers are based on my profile - so its stuff I really need, want or enjoy. And it free.
Posted by: Designed2Design at 09/25/2009 05:57:44 PM
Another great way to save money is to join a loyalty membership. At www.CashforGasandGroceries.com you get $25 Visa gift cards each month just for shopping at the same grocery store or gas station.
Posted by: jonny at 10/27/2009 05:42:03 AM
Great post. Thanks for sharing useful info. Coupons are great way to save money online. Check out coupons from all stores at deals365.us...