Today’s Millennials face all kinds of financial woes. Still, this particular problem has people wondering if they’ll have to survive off ramen noodles like in their college days, that is the skyrocketing grocery prices.
A U.S. Bureau of Labor Statistics report reveals a brutal truth – groceries are up a staggering 10.7% year-over-year, with essentials like meat and eggs taking a bigger bite at 13%. This inflation surge forces young adults to embrace a new strategy – conquering the grocery bill.
But don’t worry. With some planning and expert advice, navigating the grocery aisle and enjoying delicious meals doesn’t have to break the bank.
For many people, rising food costs can mean more hardships. Higher earners are more equipped to handle the effects of rising prices. However, a small expense increase might greatly impact those barely making ends meet. This includes households with low incomes, where the expense of food accounts for, on average, thirty percent of income.
Food costs have always fluctuated, but they did so more so during the pandemic. Throughout 2020, food prices have increased steadily due to a mix of supply-chain interruptions, labor costs, inflation, and taxes on select foreign imports.
Luckily, unlike fixed payments like car notes and rent, paying for groceries is more flexible. You can reduce your monthly shopping bill with a few strategies.
Planning is Your Budget Blueprint
Jennifer Jones is a certified integrative nutritionist, executive wellness coach, and the founder of JENuine Nutrition. She teaches professionals and organizations how to optimize their health and performance through nutrition and lifestyle management.
“Planning and flexibility are key,” says Jones. “Millennials are busy, but dedicating your time during the week to plan meals and create a list can save them significant money.”
She added: “You’re either going to pay in the front end or the back end, which means you’re better off paying a little extra for healthy food than cheaper food with chemicals and preservatives that is unhealthy and will eventually contribute to medical expenses for chronic diseases.”
Texans spend, on average, close to $300 every time they shop. The U.S. Census Bureau reports that Texans spend $286.19 on food per week. Houston has the highest food costs in the United States, with an average of $302.65, per a HelpAdvisor review of Census Bureau data.
Cities with the highest average weekly grocery bills:
- Miami: $327.89
- Houston: $302.65
- Riverside, Calif.: $300.50
- San Francisco: $298.44
- Los Angeles: $295.33
- Seattle: $289.23
- New York: $282.60
- Dallas: $282.21
- Chicago: $278.91
- Atlanta: $277.54
Jones says there are strategies around purchasing healthy, affordable food without breaking the bank.
“Cooking a large batch of food on the weekend can be used for multiple weekly meals. This reduces the temptation to eat out, which can be significantly more expensive,” she explains. “Leftovers can be re-purposed into new meals, further maximizing your grocery budget.”
Impulse buys at the grocery store are a budget killer. Meal planning is your secret weapon against unplanned spending. Dedicate some time each week to plan your meals and create a grocery list based on those plans. Utilize online resources and cookbooks to find budget-friendly recipes. Consider incorporating seasonal ingredients, which are often more affordable.
Having a well-stocked pantry is a game-changer. Stock up on non-perishable staples like beans, rice, pasta, canned goods, and dried herbs. These versatile ingredients can be transformed into countless meals, reducing reliance on expensive pre-made or pre-cut options.
Don’t be afraid of store brands! Many private-label brands offer comparable quality to national brands at a fraction of the price. Consider generic versions of your favorite pantry staples and compare unit prices before deciding.
Loyalty programs and coupons can also help you save. Utilize store loyalty programs and apps to access exclusive discounts and promotions. Clip coupons from your local newspaper or utilize digital couponing apps.
However, remember, coupons should be a tool to enhance your savings, not the sole driver of your shopping decisions.
