Figures released by the British Retail Consortium indicate that food price inflation stood at 5.6% for the month of June 2009. While the rate was lower than the 6.4% figure for the preceding month, the increase in food prices is still outpacing increases in the average rate of pay. As a result, consumers continue to find creative ways to trim the food budget and still enjoy some of their long time favourite foods.
One of the best ways to go about keeping monthly food costs in check is to look for discounts on the items you would normally buy. Chains like Tesco and Morrisons often offer special pricing on name brand products for a short period of time, making it possible to pickup up a little extra this week and lower the grocery bill for the following week. But keep in mind that local grocers also sometimes offer discounts that may be worth your time to investigate.
Another way to keep your food spending under control is to always shop with a list. Having a list helps to prevent being sidetracked into making impulse purchases. The list also helps to ensure you get what you need without forgetting anything, thus eliminating the possibility of returning to the store and being confronted with more impulse buys later on.
A third way to manage your food budget is to never go food shopping when you are hungry. Always have at least a snack in advance. Empty stomachs translate into buying more of the things you don’t need, such as snack foods loaded with empty calories. A full tummy makes it easier to think rationally while selecting your items and making your way to the register.
From time to time, you may find your efforts have actually made it possible to spend below your budgeted amount from time to time. Put that surplus to good use by paying down a loan balance or placing the extra funds into a savings account. Even small amounts can eventually make a big difference in your financial well being.
Tags: Food Costs, Tesco, Vouchers
