JACKSONVILLE, Fla. – Taking a trip to the grocery store is more expensive especially if you have a large family to feed.
The U.S. Department of Agriculture estimates grocery costs will go up between 2% and 3% and eating out will rise between 4% and 5%.
Just last month, food prices rose 1% -- the largest monthly increase since April 2020.
Financial planner Jeff McDermott said learning better shopping habits is important to really cut back your bill.
“You might have to make a sacrifice and shop somewhere that has lower prices on goods. It’s tough right now with inflation the way it is,” said McDermott, CEO of Create Wealth Financial Planning.
Here are some additional tips to cut back on your grocery bill:
- Make a shopping list: The best way to avoid impulsive buys is to make a list beforehand of what you’re there to buy and stick to it.
- Shop around: Finding the best deals means comparing prices on products at different stores.
- Switch to store brands: House brands are often produced by the same manufacturers that make the big-name items, but they’re typically cheaper. This could save shoppers anywhere from 10% to 40%.
- Try frozen or canned fruits and vegetables: They don’t go bad or spoil like fresh vegetables.
McDermott also advises avoiding temptation purchases. He said to focus on buying what you need instead of what you want.