January 25, 2007

Cheaper Than The Grocery Store

By Dana Joseph

Inspired by Alison’s comment on meeting grocery budget goals: 

I’ve been surprised by the same “cheaper than the grocery store” phenomenon at Target! It’s not cheaper on everything, but sometimes the difference is substantial. I buy my Tabasco and Quaker granola bars there.

I am going to be comparing all grocery store prices to Target and to Walmart.  Since I’ve found the price differences to be in excess of a dollar or more per item, I think this is a necessity.  My price comparison sheet is becoming larger, and the amount saved is becoming even greater. 

In undertaking this process of reducing the grocery bill, I am using the technique we have applied to other areas of our finances. 

1.  Always shop around for the lowest price.  I had been neglecting this in the grocery budget due to convenience, but the overall numbers from our Quicken itemized categories report were too big to ignore.

2.  Evaluate generic versus brand and determine if there is a significant taste difference.  Since we are working around food allergies, this one is a little bit trickier.  However, I have found some store brands that are just as good as the name brands, and they do not contain the items we need to avoid.

3.  Monitor spending carefully…down to the last penny.   I’ve been keeping a daily running total of the monthly grocery expenses which is a motivating factor to cook more frugally. 

4.  To keep things interesting (I mean after all it can become quite mundane to deal with grocery store items), I’ve set up weekly grocery spending goals.  It is like a bargain hunt to find the items I am looking for at a lower price. 

 


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