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Ways to Reduce Your Food Bill
If you're spending more than 14% of your take-home pay on food, try to cut back. It's easy to fill your belly without breaking the budget.
- Use coupons. Get out your scissors! Coupons are a great way to save money, especially if your grocery store doubles them. Find coupons in newspapers or online and carry them with you so you always have a discount in your pocket.
- Make a grocery list. Having a list will help prevent impulse buying, and you'll purchase only what you need.
- Get a store loyalty card. These free reward cards entitle you to store discounts and rebates just for signing up. The more you shop at the same grocery store, the more you can earn back a portion of what you spend.
- Buy in bulk. Don't need so much? Hit the local wholesale club with a friend so you can split your purchases and your bill.
- Purchase discounted restaurant gift certificates. If you have an urge to eat out, there are plenty of online sites that sell discounted gift certificates for local restaurants.
- Brown bag it. According to the Bureau of Labor Statistics, the average American household spends more money eating out than eating in. Packing your lunch every day can save you anywhere between $20 and $100 each week.
- Brew your own coffee. Coffee is the most popular beverage worldwide. If you drink at least one cup a day, every day, you can save more than $80 a month by brewing it at home… that's more than $1,000 a year!
- Say no to bottled water. Tap water is free, and according to the U.S. Food and Drug Administration, there is no difference in the federal standards for bottled water and tap water. (Not only is tap water wallet-friendly, it's eco-friendly too.)
- Stay away from vending machines. Sure, vending machines are convenient, but the mark up can be more than 100%! Skip the soda and drink tap water instead. It's free.
- Plant a garden. Harvest your own fruits and veggies this year. Berries, lettuce, herbs—they're all cheaper to grow on your own (and you'll know they are pesticide-free).
- Learn to cook. It's much more affordable to cook your meals using fresh ingredients than it is to buy prepackaged processed foods.
Helpful Tips
- Pay yourself first by putting a portion of your paycheck directly into the bank. This is the most effective way to save money. If you never see the money, you won't miss it.
- Your emergency fund should consist of at least 3–6 months of living expenses.