How to reduce the impact of rising food costs
Food costs are rising rapidly, right before our very eyes.
It used to be more subtle. Prices would creep up 10 cents here, 20 cents there. It was a slow creep — our awareness of the steady upward climb masked by sales and pre-pandemic distractions.
But now, there’s nothing to distract us. The headlines are everywhere.
We share stories of higher price tags at the grocery store. We reminisce about how cheap things used to be. Not only are we seeing inflation in the form of rising prices, we’re also seeing shrinkflation in the form of less product for the same price.
When inflation impacts food costs, it can feel like there’s no escape. After all, we need to eat, right? Yet, we still have agency over how we spend our money.
Here are some ways to reduce the impact of rising food costs on our pocketbooks.
First things first, we have options. As consumers, we are inundated with choices. With most groceries, we can choose to purchase less expensive options. Perhaps we buy eggs only when they’re on sale. Perhaps we buy the house brand yogurt. Perhaps we buy apples instead of pears. We can make informed choices — substituting one ingredient for another, making lunch instead of getting takeout, using up what we have in the pantry or freezer rather than letting it expire or spoil.
Sometimes more is more, but sometimes less is more. When prices are rising, it’s tempting to stock up on things when they go on sale. But it’s only a good deal if it’s something you’re going to use. I generally don’t advocate buying more than you need, but if you're going to stock up, do so only with non-perishable items or perishable items that you can freeze. With everything else, buy only what you know you will use within the next little while. A lot of food goes to waste and there’s some built-in savings to be found simply by buying what we need, when we need it.
Make a list and stick to it. Retail shops, even grocery stores, are designed to tempt customers into buying more. Products are strategically placed and aisles are carefully designed to entice you into putting one more item into your cart. When I go grocery shopping, I have a list of items I plan to buy. Sometimes I add one or two things on impulse, but mostly, I stick to my list. I forgo the shopping cart and carry a basket instead (or nothing at all). I ask myself these questions:
Do I *truly* need this?
How much of this do I *really* want to buy?
Will I *actually* use this in the near future?
The three strategies outlined above are what I try to use as I move toward more mindful consumption — in the category of food as well as in other areas of spending. There are a myriad of other ways to save money, including using coupons and points, but I haven’t included those here because they’re not things I often remember to do.
Next month, I’ll be embarking on my 30-day eat at home challenge.
I do this challenge at least once a year, and November has been an ideal container: I don’t celebrate any birthdays or special occasions, and it’s right before the holidays. Sometimes, I set a theme or other parameters for my eat at home challenge — this one is going to be all about being aware of food costs, using up what I have, and buying only what I need. If you’d like to join me, you can find all the details here.
