Financial freedom is a direct result of practising healthy financial habits – saving a few pounds at the supermarket could mean the difference between staying on course and going into your overdraft. And, with the average UK buyer increasing their spend in supermarkets every January, we want to make sure that you don’t fall victim to common pitfalls when handling your spend.
Why do we spend so much in supermarkets?
Many of us spend money unnecessarily because we are wooed by items we had no intention of buying when we entered the supermarket. Worse still is impulse buying when hungry – you’re not only more likely to buy calorie-dense ‘junk’ food, but much more likely to spend more too.
A lot of us get caught up in the lure of big brands. For some of your grocery essentials, you could be spending up to £10 more unnecessarily.
Lack of Comparison:
Getting the biggest bang for your buck may be down to weighing your supermarket options together. Fortunately, there’s plenty of resources on the internet to help you figure out where to get your groceries from pretty cheaply. A study conducted by Which revealed that Sainsbury’s was the cheapest supermarket in 2019.
How to reduce your supermarket spend:
Write a list:
Seems pretty obvious, but writing a list can be the difference between impulse over spending and sticking to a tight budget. It means you enter the store with intentionality to purchase what you need – nothing more, nothing less.
Be aware of shelf life:
If the majority of your groceries are perishables, this may cause you to purchase more than you need when your foods expire even if you haven’t used all of it up yet. You can either opt for frozen or chilled goods which have a longer expiry date, or you could opt to freeze some of your leftover goods for use at a later date.
Choose your luxuries carefully:
Who doesn’t love the more luxurious things in life? As much as this is the case, it’s still pretty important to make sure that you’re not unnecessarily forking out big bucks for items that you can buy at up to half the price. Opt for supermarket-brand necessities when you can – we promise, it tastes just as good!
Coupons and loyalty card programmes:
Coupons always mean big savings! Coupons can be found online, in your local newspapers and occasionally in newsletters sent over to your home. Be proactive in acquiring these to decrease your overall expenditure. Have a look into loyalty ca
Bring your own bags:
It may not feel like a big step, but having to pay an extra 5p – which may be set to rise to 9p – adds up in the grand scheme of things. Be intentional about stacking shopping bags and reuse them. You can keep them in your car, or you can leave them at the side of your home entrance to make sure you don’t forget them on the go.