Tips For Cutting Your Grocery Bill – And Why It Matters In The Context Of Bankruptcy

Options like bankruptcy can help you get your finances back on track if you have incurred debts that have become overwhelming. However, it is always more ideal if you can get things more stable without having to go through the entire bankruptcy process. And even if you have found yourself on the other side of bankruptcy and have had debt discharged, the last thing you want to do is incur more by spending more on groceries than you should. Groceries may seem like a small purchase, but the reality is that little purchases like your grocery bill can add up to have a big impact on your overall ability to maintain your financial stability.

Why is Learning to Budget Appropriately More Important Than Ever? 

Unfortunately, recent statistics indicate that grocery prices are going up. The Bureau of Labor Statistics recently published data results indicating that the price of groceries has risen more than two percent since 2020. And while the pandemic can be blamed for the initial increase, prices are continuing to rise. Other statistics indicate that prior to the price surge as of early 2020, Americans already had an average cost of groceries each month for one person ranging between $165 and $345. Given the more recent unfavorable price surge, understanding how to save money on groceries can help you avoid ending up in a financial bind now more than ever.

Tips You Can Implement

• Set and stick to a budget
• Schedule your meal plans around what you already have
• Make lists prior to going to the store
• Avoid shopping when you are hungry
• Pay attention to sales and clearance items
• Reuse leftovers the next day for lunch or dinner
• Buy in bulk only for items that you are sure are a good deal in terms of price per volume and also know will be consumed in entirety
• Tally a rough estimate in your head of the total amount of money you are putting into your cart as you go
• Stay away from in-store sample stations if you don’t think you can avoid purchasing the product
• Use any readily accessible coupons for items you are already planning to buy
• If you have a habit of picking up items that weren’t planned for, consider curbside pickup so that you can avoid the enticement

Turn to a Legal Team You Can Trust

Some people have simple financial problems that can be overcome by implementing a few tips. Others who are suffering from debilitating debt that they see no likely way out of instead can benefit from filing a bankruptcy petition and beginning to move forward to a new financial beginning. As the Plantation bankruptcy attorneys at Nowack & Olson, PLLC, we understand how frustrating it can be when you’re financially strapped and debt is mounting, and we have a passion for guiding borrowers to a better place. Making smart financial decisions takes practice and is one of the many things that you will have assistance with during the bankruptcy process. Contact us today for a free consultation to begin moving forward.

Resource:

foxbusiness.com/lifestyle/what-is-the-average-grocery-bill-for-one-person#:~:text=The%20average%20cost%20of%20groceries%20each%20month%20for,groceries%2C%20according%20to%20the%20USDA%27s%20monthly%20food%20plan