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When you think about it, food is crazily expensive. Have you ever gone through your monthly accounts and seen how much food gets spent on food? It will shock you to your core, and it soon becomes apparent why your family struggles to save money. The worst thing is, how can you cut your food bill down? It’s an essential purchase, leading most families to assume that it can’t be done. In reality, you can save money on your food bill without making huge sacrifices. It’s time to get your accountant’s hat on, crunch the numbers, and figure out how to lower your monthly food bill!
Buy the essentials
What food is essential? Well, it’s all the foods that form your main meals throughout the month. This includes lots of different ingredients, but it basically excludes things like chocolate, cookies, etc. Sweet treats like this aren’t essential for your diet, so why do you waste money on them? Focus on getting all the essentials first, then see where your budget lies. If you can afford to, buy a treat or two once a week. It’s a minor compromise, but you’ll be stunned at how much money this saves.
Subscribe and save
Do you buy the same foods over and over again? If so, you can save money by getting a subscription for them. For instance, if you go through a bag of coffee every month, you constantly replace it. This can cost a lot of money, and you can lower the costs by getting a coffee subscription. Loads of these exist, and you can click here to learn more about how they work. The same goes for lots of other foods as well – I know Amazon offers a subscribe and save feature on its website. Effectively, you subscribe to get the food delivered every month or two months, and you pay less than if you kept ordering it manually. That’s the main way that subscriptions work; you get a lower price but commit to getting the same thing over and over. It only makes sense if there are foods you always buy every month!
This is such a popular tip from all financial experts that will help you save a fortune on your food bill. It’s simple; swap out branded products for cheaper alternatives. Instead of getting a box of Kellogg’s Corn Flakes, buy the Tesco variation. It’s basically the same product, but at a fraction of the price due to a lack of branding. Shops like Lidl and Aldi only sell non-branded products, so they’re excellent if you want to save money. You don’t have to swap everything out but play around with a few switches to see how much you can save. I promise you’ll notice a lot of non-branded products taste exactly the same as your favourite brands.
Three simple tips; that’s all it takes to slash your food bill every single month. Cut out the foods that you don’t need, consider cost-effective subscriptions, and swap out the expensive brands.