5 Ways To Save Money On Your Groceries30 Apr 2021
Grocery shopping is a significant expense for many of us. According to a 2019 report by Nielsen, Malaysians on average spend over RM460 a month on groceries and household items.
Whether you’re a student or a parent trying to cut costs, we could all use some tips on how to make wiser grocery shopping choices. Here are 5 ways to save more money on your next grocery run:
1. Have a budget in mind
A budget is a must if you are serious about reducing your grocery bills. Start by tracking your spending to see where your money is going. This will help you find your problem areas, giving you an indication on what you need to cut.
Having a grocery budget will give you more clarity and control over the way your cash flows when it comes to food. Once you’ve worked out the maximum amount you can spend every month, be sure to stick to it.
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2. Shop with a calculator
This simple and smart tactic is a great way to help you stick to your grocery budget.
Bring a calculator with you - or use the one in your smartphone - whenever you go to the supermarket. Add up the prices as you put each item in your shopping cart. If your children are with you, get them to help you with that task. This will make grocery shopping more fun, and is also a great opportunity to teach your kids about budgeting.
3. Compare prices
Another way to maximise your grocery savings is to compare prices. This helps you find better deals on the same items, or discover similar products at better prices. After all, why pay more when you don’t have to?
Here is a useful guide on the prices offered by different grocery stores in Malaysia. You can also use an app like Hargapedia to make comparing prices easier.
4. Buy some items in bulk
Certain everyday goods - usually the non-edible type - offer great value when bought in excess. Examples include toothbrushes, toilet rolls, baby diapers, pet food and bottled water.
Hypermarkets are usually the place to go to for bulk purchase options. Also look out for periodic warehouse and stock clearance sales, as well as offers by online merchants.
5. Plan your meals ahead
Meal planning before heading to the grocery store helps ensure you only buy what you need.
Once you have decided on the meals to prepare for the week, make a list of the ingredients you’ll need. Do a quick check on the items you have in your refrigerator and cupboard to make sure you don’t accidentally buy things that you already have.
Apart from saving money, planning your meals ahead also helps improve your family’s nutrition and reduce food waste.
It may seem tedious having to put in these efforts to save a few ringgit here and there, but every little bit counts. Saving RM30 a week may not seem much at first, but by the end of the year, you would’ve saved RM1,560, which you can put to use for other things like your emergency fund.
Becoming more organised with your grocery shopping is one way to get your finances in shape. You should also ensure that your finances are protected with an insurance policy, so that you don’t drain your emergency fund too much and too quickly. We have a range of plans to fit different budgets and requirements. Take a look at the options we have here.