Five Ways to Hold Down Food Cost

Its no secret that we are paying a lot more money for a lot less food lately. Between inflation driving prices up and "shrinkflation" providing less product for the same price, a lot of people are feeling squeezed every time they have to walk into a grocery store. Here are five strategies you can use to help you fight back against the rising cost of food.

1. Have a plan. Never, and I mean NEVER, walk into a grocery store without a shopping list that you drew up before you left home and based on what you actually need to buy. Once you are in the store, if it is not on your list, don't buy it. I keep a pad on my refrigerator door and make my list day by day so I don't forget anything. However you want to do it is fine, but do it. On average, households throw away about 30% of the food they buy. That means they are actually spending almost 50% more than they think they are on those items. Having a few recipes written down and then shopping for those ingredients is a great strategy to help you save money at the store.

2. Shop your pantry. You probably already have more on hand to eat in your house than you realize. Turning to what you have in your pantry or freezer before you make a list and shop can help you save money, since you’re not buying what you’ve already got. Taking an occasional inventory also helps you use up foods before they spoil.

3. Compare Unit Prices. If you don’t know what a unit price is, you should. It’s located on the shelf next to the price for the item and allows you to better compare different sizes and different brands. Unit prices show you the cost based on weight, and smaller sizes cost more. It might make sense to buy the bigger box, which will cost more at the time but is going to be cheaper per pound than the smaller box.

4. Be creative with produce.

Choosing frozen, canned or dried fruits and vegetables is a great way to save money and still get vitamins, minerals, fiber and antioxidants into your diet. Look for options that are lower in added sugars and salt. Consider swapping out a more expensive fruit or vegetable with a cheaper one. Turn cabbage into a slaw, instead of a mixed green salad to save. Use onions instead of shallots in a soup recipe, or try frozen berries instead of fresh in a smoothie. Also, make sure you actually eat what you buy. That’s another reason frozen and canned produce are great staples, but use up your delicate produce first so you don’t end up throwing money away. 

5. Rethink convenience. You pay a premium for convenience, like pre-cut produce, bagged salads or sauces that are already made and ready for you to use. Sometimes those convenience items pay off, and it means you’re eating a home-cooked meal instead of getting takeout or letting items in your fridge go to waste. Just be mindful of prices to see what the premium you pay is and also know that you can find convenience without paying more by buying items like frozen vegetables.

When it comes to food costs, we often do not have a lot of choice. We have to keep our family fed. But with a few tweaks to our buying and cooking habits, we can at last reduce the impact of higher costs.