How to Save Money on Food When Grocery Prices Are Up Over 10%

Inflation has been making consumers miserable for well over a year now. And while you might hear that cutting back on spending is the best way to cope with it, there are certain essential expenses you can't really skimp on.

Food happens to be one of them.

Sure, you can keep your credit card bills to a minimum by cooking meals at home and avoiding eating in restaurants and takeout meals. But even so, the cost of groceries was up 10.2% on an annual basis in February, according to that month's Consumer Price Index. So even if you're willing to shop frugally for food, you might still end up paying a lot more to feed your household than you did a year ago.

But that doesn't mean you can't do anything to save money on food. Here's how to keep your grocery bills down during these challenging times.

1. Be thoughtful about meal planning

Some people prefer to wing it when it comes to cooking dinner. But if you're trying to minimize your food-related spending, plan your meals out in advance. That should allow you to take advantage of supermarket sales, and also, avoid buying items you don't end up needing or using up before they expire.

2. Buy the right items in bulk

Buying in bulk could save you money under the right circumstances. But to be clear, for this strategy to work, you need to stick to tried and true items that are commonly consumed in your household. And also, you should limit bulk buying to food items you're confident you'll use up before they go bad.

If you have young kids who like to gulp down yogurt smoothies every day, by all means, buy a bulk pack. But be careful about buying certain meats or cheeses in bulk if you're not sure they'll get used up prior to spoiling.

Also, when buying in bulk, make sure you have enough storage to house the items you're buying. If you cram too much food into your fridge, you might limit its ability to cool your groceries, thereby leading to a situation where your food doesn't last as long as expected. The result? Wasted money.

3. Look to discount grocery stores

If you have a discount grocery store like Aldi in your neighborhood, buying items there could result in a nice amount of savings. But generally, stores like Aldi won't have everything you need, so in many cases, it'll mean making an extra trip.

If you have a lighter work schedule, that may not be a problem. But if you don't have the time to shop at multiple supermarkets each week, then you may need to skip the Aldi run.

These days, many people are racking up debt and raiding their savings accounts just to do simple things like feed their families. It's a frustrating situation, to say the least. But if you employ these tips, you may find that you're able to reduce the amount of money you're spending on food, making it easier to cope with this period of persistent inflation.