Up, Up and Away!
I am positive that you are well aware that the cost of food is rising, and quickly! According to recent figures from the Bureau of Labor Statistics, during the 2007 calendar year U.S. food prices increased by a whopping 4.9% - 8% higher than 2007 inflation rates and 2.8% higher than food prices increased in 2006. And most food folks would agree that we ain’t seen nothin' yet!
In the past, agricultural commodity prices tended to be volatile, with an overall decline trend, because they were supply-driven. Technology and productivity improvements in farming increased agricultural yields to meet supply, keeping prices down. Today, higher fuel prices are increasing the cost of transporting commodities, while various weather conditions and trade issues are currently contributing to lower supply. The result is higher prices across the board.
In the U.S., staples like milk, cheese and bread experienced especially marked hikes, with poultry, fruits and vegetables, cereal and meats following close behind. Internationally, increases in the prices of dairy and grains pushed the food price index used by the Food and Agriculture Organization of the United Nations up by almost 40% over the last year. By comparison, in the previous year period, the food price index was up only 9%.
With global commodity stocks at historic lows, a growing demand for food, feed and fuel, tight supply, and no plan for increased agricultural productivity, the phenomenon of higher prices is likely to continue. The International Food Policy Research Institute estimates that global cereal prices will rise 10 to 20% by the year 2015.
So what can you do?
Here are my 5 basic tips to keep on budget.
- Make a shopping list and stick to it.
Create the ultimate shopping list by taking receipts from the past month, list all the groceries you regularly buy by name on a spreadsheet. Then go thru the fridge, freezer and cupboards and look at what you have. Then cross what you don't need off the week's list. You'll cut your spending by 15 to 25 percent by not buying more of the same. - Use coupons.
Don't think you're above clipping coupons from the newspaper, magazines or even online. The average coupon value is almost one dollar! Also, put your kids in charge of coupon cutting and gathering, since it teaches valuable lessons about money, and be sure to give them a percentage of what you save as their allowance. - Sign up for frequent-shopper cards.
You will end up giving up brand loyalty because you'll be going for whatever is on sale. But there is no doubt you'll save money. - Buy the store’s own brand.
Most stores offer a 100%, money-back guarantee on their products and most of today's store brands are of the same quality or exceed the quality of name brands. This alone can save you 15% or more. - Buy produce in season or from local growers.
It’s tastier, more nutritious (as it had a longer growth cycle and was picked when ripe) and less expensive. For those fruits or veggies that are not in season, head to the frozen food case. Frozen and canned fruits and veggies are picked and processed at the height of flavor and can be up to 50% less than their out of season imported counterparts
Share your tips on how you can save $$ on your grocery bill and we will select 5 people at random and send them a SupermarketGuru canvas tote bag as a thank you!
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I buy in bulk,(example) ground beef, then i make smaller packaages and freeze
Great advice on cutting costs on a budget! Rules to live by. Some people don't think of the 'little' things that can help with the bigger picture.
Davids ground beef idea is also smart, buying in bulk when you can is great. For instance if you have a budget for example of $100 for food per week and on one week you spend the $100 but have bought in bulk.. the following week you may only need to spend approx' $80 and the extra money from your budget can be set aside to go onto food for the following week instead, so for the next week you'll have $120+ instead of only $100. Buy in bulk when this happens.. and it's a great way to prevent going 'over budget'. Also don't fall into the trap of "I have an extra $20 to spend on anything"... put it to good use. This rule is great for every area of your life & budgeting... you'd be surprised just how much you can save or benefit, even if only by a couple dollars here and there.
Besides buying meat in bulk when it is on sale I also try to do the same with fresh fruits and vegetables. Freeze the extra to use at a later date. I've also started making my own dog treats for the pets. I can make almost twice as many treats as I get at the store for the same price. My dogs seem to like them better also.
I buy sugar, flour and pasta when on sale even when I have some. Sugar and Flour bags can be put in gallon freezer bags and in the freezer it goes until needed. Pasta can be store the same way.I have frozen potato chips and cake mixes for a time in the freezer also. It helps out when supply is low in the cabinets.
We buy a 1/2 cow for a local butcher and freeze it in our deep freezer. This give me plenty of beef at a much lower cost then the grocery store. When chicken is on sale I buy a large quanity and freeze it.
I also take a calculator with me to the grocery store. This helps you see how much you are spending and were. Then there are no surprises when you get up to the register. When my children were younger I would get them to add the grocery's up on a notebook as we went thru the store. This help them with there math. It also gave them an idea of how much things cost.
When my children were Younger I made my own baby food in a food processer.. Baby food is really expensive plus you dont get all that extra Junk Just Fresh Fruits or Vegies Even Meats when they are old Enough!!!