In 2024, money is much tighter than it used to be, so discovering practical ways to save money is essential when grocery shopping.

According to consumer expenditure data published by the US Bureau of Labor Statistics in late 2023, Americans spend an average of $5,703 per year (approximately $475 per month) on groceries. And despite cooling inflation, food prices remain sky-high compared to 2022.

Naturally, the amount you spend grocery shopping depends on the stores you visit, the number of people you feed, and the items you buy. However, you can follow a few simple hacks to save money, from checking the price per unit to joining a wholesale club to proactively searching for discounts.

Keep reading to discover our top seven tips for saving money on groceries.

How To Save Money When Grocery Shopping

1. Stick To Store Brands

Granted, there are viable reasons for choosing popular brands (sometimes). However, when money is tight, it's worth going with store-owned-brand food.

Despite public perception, own-brand items are just as tasty as branded products. Most importantly, such foods carry considerably lower price tags so that you can save dollars on your grocery bill every week. 

Give it a try — you'll likely be surprised by how much you can save.

2. Look For Discounts

If you regularly shop at a specific supermarket, take advantage of all its discounts. Stores tend to offer discounts in the form of coupons or at the bottom or back of receipts.

But we live in a digital world. So, you'll likely lose these tiny bits of paper before your next shop. Instead, consider downloading apps that keep your discounts safe until your next visit. 

3. Participate In A Wholesale Club

Wholesale clubs, such as Costco, can offer incredible savings when buying in bulk. You know precisely how important this is if you have a large family. Just keep in mind that buying in bulk means spending more upfront. Therefore, it certainly isn't for everyone.

These clubs also have membership fees. Currently, Costco memberships start at $60 and can run as high as $120 for Gold Star Executive status. While this may seem astronomical, it can be worthwhile if you're regularly stocking up on staples. You can also optimize savings by utilizing cards such as the Costco Anywhere Visa Card by Citi, which doesn't come with an annual fee but necessitates an active Costco membership.

Costco is arguably the most popular one. However, you can shop at BJ's Wholesale Club, Sam's Club, or similar stores to gain near-identical savings.

4. Consider Your Burn Rate

Your burn rate describes how frequently you use products. You should figure out how long different products last you to stock up on deals accordingly. 

If you have space in your freezer to purchase extra discounted chicken. But if bags of chopped salad are on sale and you buy more than you can consume, you'll only waste money—the very thing you're trying to avoid!

5. Eat Before You Go Shopping

Going to the store when you're hungry will see you spend so much more on foods you can't wait to eat. This is a mistake. So, always have a bite to eat before going to the store to ensure hunger pangs don't cloud your judgment. Your bank account will thank you for it.

6. Check The Price Per Unit

The price per unit (i.e., per pound, gram, ounce, etc.) is printed on the pricing display in front of or next to the product. You can also use an online price calculator to determine the cost per unit. This information helps you understand the cost differences between identical products of different sizes. 

7. Don't Dig Into Your Emergency Savings

Last but not least, you shouldn't dig into your emergency savings to fund your food cravings. These savings are strictly for use in an emergency.

Granted, emergencies can take away the money you'd usually have for groceries. In this case, tapping into your crisis fund is justified. Otherwise, leave it be. 

But what if you don't have enough money saved to cover the situation? That's where an emergency loan from Tennessee Title Loans, Inc. can help!

Consider An Emergency Loan For Urgent Expenses

If you're struggling to purchase groceries because your emergency savings have dried up, consider a fast loan from Tennessee Title Loans, Inc. 

If you're over 18, you can turn to us for a line of credit, title loan, or payday loan. These loans are safe and convenient, allowing you to bridge one-off financial gaps without needing a fantastic credit score or waiting weeks for a traditional personal loan application to process. 

Bridge Financial Gaps With Tennessee Title Loans, Inc. Today!

Our tips and tricks above will help you save precious dollars when grocery shopping, relieving heavy financial burdens. But if you can't save enough money to fund a current crisis, our title, line of credit, and payday loans are an option.

Please fill out our online inquiry form to learn more about your emergency loan options. 

Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.