One of the most successful investors of all time, Warren Buffet, once said, “Whether we’re talking about socks or stocks, I like buying quality merchandise when it is marked down.” And it’s likely that most of us take a similar approach to buying food.
So, to help you get the most from your food budget, read on for our top shopping tips.
How to budget shop for weekly groceries
With so many products vying for your attention every time you shop, it can be hard to stay on track. As a result, budget shopping can be challenging. There are several things you can do to avoid the pitfalls and make your budget go further though.
- Portion control – Only buy what you need. Loose fruit and veg can be cheaper than buying pre-packed and is better for the environment. It may be convenient to buy a bag of carrots, but if you only want a couple then the rest rot, you’ll end up wasting food and money. Many shops also offer wonky fruit and veg which may look odd, but tastes the same, and is cheaper.
- Timing – Try to work out when your favourite food shop marks down items. If you arrive at the right time, you can save a significant amount. Just don’t end up buying eight smoothies that go out of date the same day because they’re cheap.
- Shop local – Don’t forget about smaller local retailers and market stalls. It’s easy to go to the supermarket out of habit, but opting for specialist shops can save you money.
- Switch brands – If you do go to the supermarket, try swapping branded products for supermarket own brands. If you’re worried they won’t be as good, buy both and do a taste test at home to see which you prefer. You might be surprised!
- Discover something new – It’s also worth investigating the supermarket aisles you don’t generally visit. For example, you may find some great canned tomatoes or grains in the world food section that are better value than your usual choice.
- Know your dates – Make sure you check expiry dates to avoid waste. And don’t confuse use -by dates with best-before dates. If something is past its use-by date, don’t eat it. But if it’s past its best-before date, you can eat it. It just may not taste as good as if you’d eaten it sooner. And storing food correctly will help keep it fresh, even if you go beyond the best-before date.
- Quantities – We live in the age of shrinkflation. Companies keep prices the same but reduce product sizes. So, make sure you check the unit price or weight of comparable products. One may be more expensive than another, but when you work out the unit price, it may be better value.
- Digital and analogue – Take advantage of apps and loyalty scheme prices. They’ll give you access to special offers, but don’t be drawn into buying things you don’t need. And keep an eye out for coupons. It may sound old fashioned, but you can spot them on packaging or in magazines. You may also be given them at the till when you pay.
How to do a weekly budget
You may set a weekly food budget, then work out what you can buy for that amount. Or you may decide what you’re going to buy, then work out the best way to buy it. Either way, make sure your budget is realistic. If not, you’re setting yourself up to fail.
The key is to only buy what you need. Planning your meals for the week will allow you to work out what ingredients you require. You may already have some of them, so check your cupboards to avoid buying extras.
It’s worth making a shopping list. It doesn’t matter if it’s on paper or on an app on your phone. Sticking to it will make sure you aren’t tempted to make impulse purchases.
Also, you could consider batch cooking. If you have space in your freezer, cooking a double portion generally works out more cost effective. And when you just don’t have the energy or time to cook, you’ll be grateful it’s there.
Small changes can add up over the year. If you reduce your food bill by £10 a week, you’ll have saved yourself £520 by the end of the year. You could put the money you save into a savings account. This may help you stick to your goal, as you’ll be able to focus on what you could buy with the money you’ve saved.
If you find yourself overspending on a regular basis, review what you’ve been buying and think about where you can make changes. A few tweaks can soon get you back on track.
Is it better to shop weekly or monthly?
You can plan meals for a week without too much trouble. This can help reduce waste if you only buy exactly what you need. You can also keep things flexible as you aren’t planning too far ahead.
Meal planning for a month is possible but is probably a bit of a stretch for most people. And plans tend to change over a month, so it could be hard to stick to, which might lead to waste.
Getting everything for a month could save you time overall though. You may end up buying in bulk as well, which could save a few pounds.
Either way, don’t forget about shops you may not primarily associate with food. You may not be able to get everything you want there, but you could stock up on key items at a competitive price.
Ultimately, which one works best for you is down to personal choice. If you have a large household, you may find buying in bulk is cost effective and saves time. Smaller households may prefer to keep things more flexible and buy smaller amounts.
The amount of storage space you have will also play a part in your decision. If you don’t have a great deal of space, you won’t be able to store a large monthly shop even if you want to.
Also, the type of food you eat will influence your shopping habits. If you like to eat plenty of fresh food, then shopping monthly isn’t going to work. If you prefer frozen and canned food though, it could be ideal.
However often you shop, never do it when you’re hungry though. You’ll definitely be more influenced by your stomach than your wallet!
Does shopping online save you money?
The first thing to bear in mind is that whether you prefer to shop in store or online, retailers want to convince you to spend as much as possible. This may be through the layout of their stores, their product offers, or the marketing emails they send you. Everything is designed to work together to encourage you to part with your cash.
Shopping online is certainly convenient. It’s also easier to shop around. Nobody has the time to visit several different supermarkets, but you can try a variety of different retailers online.
It can also help you keep track of spending as you go. If you get to the end and find you’re over budget, you can put things back before you pay. You could do the same at the checkout in store, but most of us probably wouldn’t bother. It’s worth noting that some supermarkets have self-scanners though. You just scan each item as you go round the store, then pay at the end as usual. This allows you to return anything you’ve overspent on before you get to the point of paying.
You’ll also have to ignore the related products suggested to you online. However, if you shop in store, it can be harder to resist impulse purchases as you pass them. Shops have decades of experience in knowing exactly where to place products to get you to buy them. If you’ve never made an unplanned purchase at the till, you have willpower of steel!
It’s worth noting that some of the cheaper supermarkets don’t offer online shopping. Also, local stores and market stalls are less likely to allow online orders. Therefore, by only shopping online, you’ll limit your choices and could miss out on the best prices. Shopping online also means you won’t get to rummage through those yellow sticker bargain items.
As you can see there are many ways to shop. Deciding what works best for you is the key though. So, whether you shop online or in store, weekly or monthly, having a plan and sticking to it will help you stay in control.
