Your Money_ The Missing Manual - J. D. Roth [41]
Buy in bulk—when it makes sense. For example, check your calendar to see if you've got any upcoming events that you'll need lots of food for. But don't go for bulk items if the larger package has a higher unit price, you don't have room to store it, or you won't use the product before it spoils. (Nobody likes stale Lucky Charms.)
Tip
If you eat a lot of meat and have the storage space, buying beef in bulk can be an excellent value. The price is generally about the same as in the supermarket, but the quality is much better. Pool your resources with other families and buy from a local rancher or butcher. For more info, read this article about buying and freezing beef: http://tinyurl.com/buyingbeef.
Check your receipt. At the register, make sure your items and coupons scan correctly. Sale items, especially, have a tendency to ring up wrong, yet few people notice. You don't need to hold up the line: If you suspect an error, step to the side and check the receipt as the clerk begins the next order. If there's a problem, politely point it out. It's your money—ask for it.
Buy from produce stands and farmers markets. During the summer months, produce stands and farmers markets offer fresh, local food at excellent prices. Even better, these kinds of places usually don't have a lot of impulse items to tempt you. Also look at community-supported agriculture (CSA) programs, which let you "subscribe" to fresh produce from a local farm (see www.localharvest.org for more info).
Waste not. One of the best ways to save money on food is to not let it go to waste. According to various estimates, Americans throw away 12–25% of their food. So if you spend $400 on groceries every month, you may be able to save $50 to $100 simply by never throwing food away. (Here's a New York Times article on the subject: http://tinyurl.com/fwaste.)
Frequently Asked Question: How Good Are Store Brands Really?
You used to have to sacrifice quality when choosing store brands, but not anymore. The October 2009 issue of Consumer Reports compared 29 name-brand foods to their store-brand counterparts in blind taste tests. The store brands offered roughly the same quality as national brands, but at much lower prices.
The magazine found that the store brands they tested cost an average of 27% less than the name brands. In my own research of 25 store-brand products (http://tinyurl.com/store-brands), I found I could save 22% at one nearby store and 36% at another.
Many store brands are actually made by the same companies that make their name-brand competition, which means you may be getting a nearly identical product for much less. So why do name brands cost more? Marketing: You recognize name brands because of the money companies spend promoting them.
A few other notes about store brands:
Many stores offer a money-back guarantee on their house-brand products, so if you don't like something, ask for a refund.
Store brands aren't always a bargain; be sure to compare prices. Sometimes the name brand is actually a better deal, especially if it's on sale.
Some stores have a wider selection of generics than others. Most will carry staple items—beans, rice, toilet paper, tomato sauce, and so on—but some markets have a better selection.
If you decide to give store brands a try, take it slow: Buy a small amount of the product to see if you like it before buying more. If you're satisfied, make the switch. If you hate it, lesson learned. And if you're undecided, then keep using it until you make up your mind. (Remember: Most tastes are acquired—you may need time to get used to a new product.)
Tip
If your family throws away a lot of spoiled food, create a leftover list and post it on the fridge. Every time you store leftovers, note the date, the name of the dish, and how many servings are left. When you're hungry, check the list!
Dining out
More than a third of U.S. food spending happens outside the home, and dining out can be costly.