| Hi Taylor
- Any thoughts on how to save money on food right now? Inflation
makes it sort of impossible, but are there any tips to make it hurt
a little less?
Hi Penny - Unfortunately, there's only so much we can do when
prices are high across the board. That said, getting strategic with
things like grocery shopping can make a difference. Here are a couple
of thoughts that might save you a buck or two:
what you've got. It's obnoxiously simple, but this advice
works 99 out of 100 times. All those cans in the pantry and foods
in the freezer have to get used at some point, right? Even if
it's something you don't particularly love, it's already in your
house, bought and paid for, and there's no better way to save
money than not shopping at all. Try to have fun with it-look up
a creative recipe using whatever ingredients you can find. Someone
on the internet knows how to make a meal out of the supplies you've
got, so just follow their lead and skip a trip to the store. This
isn't a flashy option, but it's always the best way to save.
2. Less meat. I take no pride in offering this advice, but
I know how the numbers work: you're gonna spend more on steak
and chicken than you are on beans and rice. People bristle at
this idea like you're being asked to change your lifestyle, but
it's more about shaking things up 2-3 nights a week. Go to town
on mac and cheese, make some veggie burritos, maybe see if you
can find a lentil recipe you can stomach. Part of the trick with
saving money isn't buying cheaper versions of your everyday foods
but instead figuring out what meals are cheaper that will still
work for you and your family.
3. Buy in bulk (cautiously). Some bulk items are greata
massive box of corndogs, a 2lb bag of coffee, a flat of canned
soup or vegetables. Alternatively, some bulk sales don't actually
save you money and give you more than you need. Your brain falls
for the gimmick, thinking you're getting a lot of something at
an unbeatable price. Meanwhile, you're spending way more than
you need to. Sure, the per-ounce price on 400 boxes of Ritz crackers
might be good, but that's at least 397 more boxes than you need.
Try to set a spending limit when you go to the store. That way
you won't get sucked into a $100 bargain that's really just a
waste of $100.
| I wish I could
offer an easy solution, but we're all struggling with high prices
right now. If you get a little creative, you can soften the blow a
little, and hopefully, things will settle back down before too long.
Thanks for the question, Penny!
Information presented is for educational purposes only and is not
an offer or solicitation for the sale or purchase of any specific
securities, investments, or investment strategies. Investments involve
risk and, unless otherwise stated, are not guaranteed. Be sure to
first consult with a qualified financial adviser and/or tax professional
before implementing any strategy discussed herein. To submit a question
to be answered in this column, please send it via email to Question@GoFarWithKovar.com,
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