With just a little bit of time and concentration, anyone can save a lot of money without sacrificing their diet, according to John Stanton, Ph.D., chair of food marketing at Saint Joseph's University, Philadelphia.
By MATTHEW M. F. MILLER
CTW Features
With just a little bit of time and concentration, anyone can save a lot of money without sacrificing their diet, according to John Stanton, Ph.D., chair of food marketing at Saint Joseph's University, Philadelphia.
“And the good news is that once the economy bounces back,” Stanton says, “you will have developed skills in buying and preparing food to carry you through for future savings.”
Here are Stanton’s tips for saving money with each:
1. Plan your meals and stick to your shopping list
Consumers who use a shopping list save two ways. First, it keeps them focused on what they do need. Second, they don’t make as many trips to the store (gasoline prices are going up faster than food prices).
2. Use the supermarket’s online planning tools
Most supermarket chains have online meal planning guides. This tool offers consumers the ability to search recipes, and subsequently, the related ingredients. This reduces “over-purchasing,” saving time and money.
3. Clip coupons
Consumers have overlooked this “free money” in the past (less than 1 percent are redeemed), but clipping can lead to big savings. Use the coupons in your local newspaper or search the Internet to find manufacturer coupons on your most frequently purchased items.
4. Trade down
You don’t need to stop buying meat. You can purchase a less expensive cut of beef, chicken or pork. For example, an eye roast costs as little as $1.99 a pound on sale at a Philadelphia supermarket while a T-bone steak costs $5.99.
5. Buy retail store brands (private label)
Today, most of the major supermarkets offer some of the finest foods available under their own brands. In days past, store brands were considered the “cheap” brand, but over the past 15 years, store brands are of equal quality as the name-brand products at a lower price.
6. Take your lunch to work
If possible use “planned-overs” — food from meals that you had intentionally made with enough for a lunch. For example, have meatloaf for dinner and the next day, make a meatloaf sandwich for lunch or roast a whole chicken for dinner, and take a chicken leg to work.
7. Avoid buying the pre-made meals and convenience foods
You sacrifice convenience, but these foods are often three times more expensive per pound.
8. Scan the whole shelf, not just what is right in front of you
Many second-tier food companies cannot afford to put their products at eye level so their products, which are often a little less expensive, are located on the highest or the lowest shelves. The shelf space directly around each corner of the aisle is considered less effective placement and often has the second-tier products.
9. Trade down at restaurants
Take a step down from the restaurants you have usually been visiting. Despite the economy, fast food chains are experiencing a surge in sales and for good reason — they’re cheaper.
10. Buy seasonal produce in season
Although you cannot stock up on perishables, you can regularly buy local and seasonal produce. Look for the citrus fruit when it comes from Florida, and not South Africa or the Middle East. Look for broccoli when it is from local farms and not Chile.