Are grocery bills eating away all your income? Here are some ways to save on grocery shopping

Is your grocery bill as long as the grocery list? Here are some ways that can help you save on grocery shopping

Groceries are an expense that every household grapples with. No matter your financial worth, essential food purchases, gas, electricity, phone bills, etc., are some heads that appear in every grocery list. With the festive season upon us, this list can further grow and drill a hole in your pocket. And the current rising prices of fruits and vegetables like onions and tomatoes are a testament to this fact. Before these rising expenses tower over your monthly budget and hamper your future savings and goals, you can resort to some easy and feasible options to save on grocery spending.

Let’s delve into some simple yet useful financial solutions that can help reduce your expenses on groceries and other household items:

1. Plan ahead of your visit to the store

Having a list of items helps you narrow down your grocery shopping to only the essential things and eliminates the scope of emotional buying. Try to make a list of things you need every month. Make sure this fits the budget allocated to groceries for the month. If the list exceeds your budget, prioritise what is important at the moment and what can be pushed to the next month. Whenever you step into a grocery store, carry the list with you and pick items accordingly. This will prevent an urge to pick unnecessary items and reduce wastage.

2. Use vouchers, discounts and offers

A lot of credit cards and banks offer vouchers, discounts, cashback, and other similar offers that can considerably lower your grocery bill. For instance, some banks may offer discounts on select grocery stores on credit card payments or bills of a certain value. You can find out about such deals and use them to reduce your overall expenditure.

3. Use e-wallets

Similar to credit cards, e-wallets also offer various offers like cashback and discount coupons that can be redeemed at select stores. If you are a frequent user of any e-wallet and have earned any such voucher, you can use it at the time of grocery shopping.

4. Membership card in the grocery store

Many grocery stores offer memberships that can be bought at a nominal fee paid monthly, semi-annually, or annually. Once you become a member, the store may present you with numerous offers like buy one and get another free, discounts, vouchers for the next purchase, free delivery, and more. Memberships at grocery stores can be financially rewarding in the long run, even when it may seem like an unwanted expense in the beginning. You can find out the membership benefits of different stores and pick the one that suits your requirements the most.

5. Picking local and seasonal

Fruits and locally produced vegetables are a lot more budget-friendly than those imported from elsewhere. In addition to this, the former is also healthier and fresher. Hence, buying local will lower the burden on your pocket and offer you several health benefits. The same can be said for seasonal produce. Seasonal fruits and vegetables are a lot healthier and cheaper than off-season ones. So, stick to local and seasonal food items over exotic and imported ones.

6. Purchase in bulk

A lot of sellers and brands may offer lower prices if you buy in bulk. This can be a great way to save on grocery shopping. Buying in bulk can also be more hassle-free as you do not have to step out to purchase the same item every time. Look for such deals on non-perishable products with a long shelf life and buy them in large quantities.

7. Plant vegetables at home

You can consider planting seasonal fruits and vegetables at home if you have a garden at home or a balcony that can accommodate plants. Tomatoes, lemons, brinjals, chillies, etc., do not require a lot of space or effort and can be potted in relatively smaller containers or pots. Suppose you have a common garden in your society or residential complex. In that case, you can also consider growing vegetables and fruits on a larger scale that can be used by all residents. Growing your own food may sound cumbersome at first, but it can be a great way to eat healthily. It lowers your expenses, offers you chemical and pesticide-free food, and can be a very relaxing hobby to pursue.

8. Compare prices

Prices can vary across grocery stores and markets. To get the best price, compare different shops and pick the one that is the most cost-effective. Smaller vendors may not always have enough variety, but their prices are comparatively lower. You can buy regular items from small vendors and other items from bigger stores. Moreover, negotiating prices can also be a great way to save on grocery spending. If there is any scope to bargain, you can try to coax the seller to lower the costs.

9. Avoid wastage

Electricity bills, water bills, gas bills, etc., can be lowered by reducing your consumption and avoiding wastage. Turn off the lights when they are not in use. When washing utensils or clothes, brushing teeth, etc., make sure that you turn off the tap immediately and do not keep it running. This will reduce the wastage of water and also lower your bill. Cook on a low flame in a covered dish to not waste gas. These small habits can go a long way in saving costs and making the planet a greener place to live.

10. Consider using a credit card

For the months when your needs exceed your budget, you can also resort to taking the help of a credit card. Using a credit card is a safe and seamless way to purchase large quantities of items at affordable and convenient EMIs (Equated Monthly Installments). Credit cards offer you enough time to pay the bill by delaying the payment. This can be particularly helpful around festivals when your grocery list invariably exceeds your monthly budget. So, instead of making compromises and cuts, you can enjoy all the festivities with a credit card. IDFC FIRST Bank offers four different credit cards – FIRST Millennia, FIRST Classic, FIRST Select, and FIRST Wealth, that provide you with unique offers and rewards, helping you save on grocery spending.

To sum it up

While it is never advised to go beyond your budget, a credit card can be helpful in certain situations and occasions where you may need surplus funds. So, do not shy away from using this option. On other occasions, adopting the tips given above can be useful to save on grocery shopping and stay well within your budget. Remember that small habits like planning and prioritising can go a long way. And for times when these do not help, opting for a credit card from IDFC FIRST Bank can be a safe and secure way out.

Disclaimer

The contents of this article/infographic/picture/video are meant solely for information purposes. The contents are generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. The information is subject to updation, completion, revision, verification and amendment and the same may change materially. The information is not intended for distribution or use by any person in any jurisdiction where such distribution or use would be contrary to law or regulation or would subject IDFC FIRST Bank or its affiliates to any licensing or registration requirements. IDFC FIRST Bank shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information mentioned. Please consult your financial advisor before making any financial decision.