Stop grocery bills from eating your income with 3 top expert tips

Spend your money wisely and be mindful of the different ways you can save money. Picture: Pexels

Spend your money wisely and be mindful of the different ways you can save money. Picture: Pexels

Published Nov 2, 2022

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You’re not imagining it. Grocery prices have gone up since a year ago and, despite a slight decrease in the average cost of a food basket from September to October, it’s still tough to make ends meet.

The good news is that we are seeing a decrease in the average cost of a food basket month on month.

The Pietermaritzburg Economic Justice and Dignity Group’s October 2022 Household Affordability Index showed the cost of a food basket decreased by R18,03 going from R4 805 in September 2022 to R4 787 last month.

While this is good news, year on year things are getting tougher for South Africans.

The index revealed, that while the food basket costs came down last month, the average cost of a household food basket actually increased from last year by a whopping R470 (10.9%), from R4 317 in October last year to R4 787 last month.

With the rising costs of petrol, Eskom threatening a huge increase in electricity costs, interest rates scheduled to be on the up again at the end of this month, and groceries costing you more year-on-year, it’s important to spend your money wisely and be mindful of the different ways you can save money.

Here experts show you how you can save money on your groceries and keep food on your table

Bulk buying or stockpiling

The now-famous FaceBook Group 1 Family 1 Stockpile, uses its platform to support women by teaching them how to improve their lives through stockpiling. Described as a way to buy and store large quantities of items, stockpiling has become a good way to save money.

People on the group highlight sales and specials so that when items are super cheap, you can buy them in bulk. It can save you hundreds of rand on goods.

South African retailer Makro says you can also save money by bulk-buying non-perishable items. They say it is a simple way for you to save money while stocking up on your household pantry.

Buying in bulk is often cheaper because people will save the money on the extra packaging making it environment friendly too.

How do you go about bulk buying so its supportive and not wasteful? Begin by tracking the number of items you consume in a month. This will make bulk buying easier because you will know how much is consumed in a month, so you will only purchase what you need.

Susan Steward, a spokesperson for Budget Insurance says by buying more, at a lower price, “you’ll be able to stretch your rand and shrink your monthly shopping bill”.

Online shopping

Here are three reasons why online shopping is a cost saving option when grocery shopping:

– Travelling costs: instead of going shop to shop, you save petrol money by doing online shopping from the comfort of your home. There might be a concern about delivery costs, however, in the long run it might be the cheaper option.

– Buying only what you need: sticking to a monthly budget is important step in preventing people from overspending. Make sure you have a groceries column in your budget. Sebastian Alexanderson, founder and debt counsellor, National Debt Advisors says when you budget, you know exactly where all your money goes and where you can make adjustments to save even small amounts.

– Loyalty programmes: take advantage of the loyalty programmes that retailers offer. Being a member of the programme could allow you to get discounts as a well incentives.

Research is key

Do your research before you go to the grocery store and don’t be fooled by ‘sale’ or ‘special’ signs. With the research, you will know where to get the best discounts. Your pocket will thank you.

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