Daily Juice 029 – Are you spending too much on groceries?

Daily Juice 029 – Are you spending too much on groceries?

Today I would like to talk about grocery spending. It can take a big bite out of your monthly budget. A family of four spends up to $1,284 a month on food at home, according to May 2016 data from the U.S. Department of Agriculture.

Now I am not a penny pincher and when it comes to buying food, I buy what I see is necessary and I don’t go around stores trying to find deals. I also prefer organic food. To me, food is necessary for living and I believe what you eat affects how you feel, act and behave.

Many of my clients, in process of reviewing their spending, come up with the conclusion that grocery spending is high. I’ve always wondered why do people feel this way? What are they comparing it to?

What I think will be a better approach is to look at how you buy your food? How often do you go to the grocery store? Do you have a meal plan?

“When shoppers buy only their weekly needs, they are forced to pay full price for 50 percent to 80 percent of what goes in their cart,” said Terry Gault, founder, and CEO of TheGroceryGame.com.

Make a meal plan. I found this to help in buying what is on my list and not having to wonder what else I need. This also helps me avoid throwing away food that goes bad if I don’t get to cook it.

So what is your grocery buying pattern? What are you going to do to adjust?

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Anna Sergunina
Anna Sergunina

I'm Anna Sergunina, CFP®, President & CEO at MainStreet Financial Planning, Inc. My passion lies in serving others through financial planning, helping clients achieve their dreams like buying a home, saving for education, or retiring early. With over two decades in the industry and a CFP designation since 2009, I'm dedicated to excellence and continuous growth. Beyond work, I cherish moments with my son Liam, prioritize self-care, and engage in content creation for my Money Boss Parent Podcast and Money Library blog.

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