First Year of Retirement: 6 Easy Ways To Save on Groceries
Let’s talk about easy, practical tips for saving on groceries when you are in retirement. Not only can it be harder to adjust to a fixed income, but you might find that common grocery costs can sneak up on you during your first year of being a retiree. Lucky for you, you are not alone.
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If you are in your first year of retirement, check out these six easy ways to save on groceries.
Meal Plan
Are you looking to reduce food waste and not toss out loads of leftovers? Then there are two words you need to keep in mind when grocery shopping: meal planning.
“Start meal planning to reduce food waste,” said consumer and money-saving expert Andrea Woroch. “Throwing away spoiled produce and unwanted leftovers is like tossing your hard-earned dollars in the trash. Reducing food waste is a quick way to save on groceries and it all begins with a meal plan.”
“To save effectively on groceries, retirees can start by planning meals for the week and creating a shopping list to avoid impulse purchases,” suggested Cliff Ambrose, FRC, founder and wealth manager at Apex Wealth.
Both Ambrose and Woroch agree that the most important step when it comes to meal prep and grocery shopping is creating a list before you go to the store. If an item is not on your premade grocery list when you are shopping, do not buy it.
While you are there, however, you can take Ambrose’s advice and try “to shop for generic brands instead of name brands; these products often have the same quality at a lower price.”
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Shop More, Buy Less
Planning out your meals for the week and sticking with favorites you know your family will enjoy to make it easy is important. You’ll also want to find ways to avoid waste such as cooking recipes that use many of the same ingredients or shopping a little more often so items don’t go bad.
“Common grocery costs that can unexpectedly burden retirees include perishable items that go unused, specialty foods for dietary needs, and non-food items like cleaning supplies and personal care products,” according to Ambrose, who went on to say these items “tend to be pricier in grocery stores compared to wholesale or discount retailers. Additionally, retirees should be wary of buying in bulk, which seems cost-effective but can lead to waste if products are not used before their expiration.”
“Buying less fresh food and shopping a little more often is another way to trim food waste,” Woroch said.
Use Grocery Store Apps
Have you tapped into the apps at your local grocery store? If not, it’s time to download them on your phone (ask your grandkids how) and start saving the next time you are at the checkout counter.
“Many grocery stores have their own apps giving you access to digital coupons you ‘clip’ for savings when checking out,” Woroch said. “The Albertson’s for U Rewards gives new users $5 off $25 and many product-specific coupons. Target Circle is another app that offers a wide range of deals in their grocery department, from product-specific coupon savings to category deals like $5 off grocery purchase of $25.”
Ambrose highlighted that “using technology to your advantage by comparing prices online or through apps dedicated to tracking sales and promotions can further enhance savings. By employing these strategies, retirees can manage their grocery expenses more effectively, ensuring they do not overextend their budgets.”
“Using loyalty cards and taking advantage of discounts and coupons offered by supermarkets can also lead to significant savings,” Ambrose said.
Track Your Receipts
When you get home from grocery shopping and have put everything away, the next item you’ll want to take care of is snapping a picture of your grocery receipt.
According to Woroch, there are opportunities to earn “…cash back when you take pictures of your grocery receipts” at many grocery store chains and outlets.
“Check their ‘Special Offers’ to see which brands or stores will get you more points faster,” Woroch said.
“For example, right now you can get 2,000 bonus points for snapping any receipt from Albertsons,” Woroch explained. “Points are redeemable for gift cards to a variety of stores like Target, Amazon, Starbucks and Sephora so you can get yourself a little treat without sacrificing your budget!”
Use a Credit Card With Grocery Rewards
Do you have a credit card that offers points or more than 1% cash back when you buy groceries? If not, Woroch said that it is time to “get a new credit card that rewards you for your grocery purchases.”
“If you’re not earning rewards for groceries, consider getting a new credit card that offers cash back on food purchases,” Woroch described.
“If you shop at supermarkets often, a card like the American Express Blue Cash Preferred Card is a smart choice as it offers 6% cash back at supermarkets on up to $6,000 in annual grocery spending,” Woroch said. “If you shop at big-box stores though, this card doesn’t make sense as it excludes Target, Walmart and Costco purchases.”
Woroch went on to explain that “you are better off with a flat-rate cash-back card like the Bread Cashback American Express Card which offers an unlimited 2% back on every purchase regardless of where you shop. Always compare credit card rewards programs before applying at sites like CardRates.com to find one that will give you the most back on your groceries.”
Look For Manager Markdowns
You might still be cutting out coupons from the local paper or going online to find if there are any specials listed on your neighborhood grocery store’s website. But if you cannot find any discounts or opportunities to save along those avenues, try keeping an eye out for manager markdowns.
“You can get deals on fish, poultry and beef as well as cheese/dairy products that’s nearing its ‘sell by date’ to save 50 to 70% off,” Woroch shared.
If you do not see any manager markdowns when you are browsing the aisles, don’t be afraid to reach out to an employee and ask if they can get the manager to speak with you about what potential savings they might be currently offering in terms of markdowns.
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This article originally appeared on GOBankingRates.com: First Year of Retirement: 6 Easy Ways To Save on Groceries
