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How to Save Money on Groceries During a Recession

Loan Express | January 3, 2023

Loan Express does not require credit checks, decline a loan based off a credit check, nor do credit checks affect the minimum approved amount of the loan. The following article is purely for educational purposes.

Why are Canadian Grocery Prices Increasing

You may have noticed costs going up at the pump, or that ordering food isn’t so budget friendly anymore. However, the latest price increase that has everyone pinching pennies to get by is at the grocery store. Due to inflation after the Covid-19 pandemic and a higher demand for certain products, grocery prices have increased dramatically. 

Grocery stores are having to accommodate for supply chain issues and the current recession by upping their prices – CBC News states, “It may actually go north of 10 per cent before things start to calm down…Canada’s inflation rate is now at 7.7%, the highest point since 1983.”

Therefore, Loan Express is here to help you today with some tips and tricks on how to save money during your next grocery trip to alleviate the stress put on your wallet. 

Frugal Ways How to Save Money on Groceries

1) Using Grocery Rewards Cards

Using a rewards card that gives you points which convert to money, like a PC Optimum card, or receiving cashback on your credit card for purchases you make can give you a wonderful bonus every few months. Collecting points and rewards now means saving hundreds on groceries in the future – it’s a fantastic surprise at the checkout to scan your card and hear that you can take money off of your purchase!

2) Use Coupons While Shopping

You may have laughed at the show “Extreme Couponing” on TLC before, but you may have also been shocked at the amount of money they save by clipping coupons from flyers or with apps on their phones. Although you don’t have to take it to the extreme that is portrayed on the show, clipping coupons can be a rewarding hobby and can help you focus on groceries you actually need instead of impulse shopping. 

Look out for weekly flyers from local grocery stores, or download your most-visited grocery store’s mobile app to receive digital coupons and offers every day. Coupons will lend themselves to your digital rewards card so discounts are automatically applied at checkout and you never have to spend more than you need to again.

3) Save Money by Buying in Bulk

By joining a wholesale club like Costco for just $60 a year, you gain access to bulk food items at amazing prices. Buying in bulk is a great option for families or for those who like to meal prep and freeze food for future use. Either way, buying in bulk and having a membership card to wholesale stores provides you with access to great savings and exclusive store benefits. 

4) Create a Grocery Shopping List In Advance

Going to the supermarket without a list makes it easy to make impulse purchases, especially when you’re at the checkout or in the snack aisle. Grabbing things that aren’t necessary purchases or pantry staples can rack up your grocery bill so try to stick to a list that only includes essentials. 

Making a meal plan makes writing that list so much easier. You can write down everything you’ll need for the week and not worry about having to go back out last minute before dinner. Also, don’t shop on an empty stomach – you’ll end up grabbing sweet treats and bags of chips you wouldn’t normally go for. 

Our best tips for creating a budget and grocery list are:

  • Make a weekly budget for groceries and food costs.
  • Write down how much items you usually need, like milk or butter, cost.
  • Factor in expenses like take-out or snacks. 
  • Make a list of must-haves and try to stick to the essentials!

5) Avoid Pre-Packed Products

Buying pre-cut vegetables, pre-sliced fruit, or shredded cheese can be a tempting option for saving time, but they usually cost more because of the convenience. Instead of buying sliced watermelon, buy a whole watermelon – it will cost less in the long run and you can enjoy it for breakfast all week. Buying a whole block of cheese or frozen veggies will be gentle on your wallet and have you realize it only takes a few minutes to prepare them in a pre-packaged way.

6) Download Grocery Rebate Apps

There are plenty of rebate apps available, like Rakuten and Ibotta, which give cash back for buying groceries. You can register for free with any of these apps and services to save more and enjoy loyalty benefits. Grocery rebate apps are the perfect way to shop smarter and save.

7) Make Price Comparisons for Essential Goods

Comparing prices while shopping is an age-old way to save money on groceries – and grocery store brands are usually much cheaper than name brands. However, you can also visit a few grocery stores during your weekly shop to compare prices (Walmart will have essentials at better prices than a grocery store like Whole Foods). To save yourself the hassle of driving or walking to different stores, you can also check online or flip through flyers to compare prices.

8) Avoid Impulse Consumption

Shopping alone, especially if you have young kids, can help you avoid impulse buys like treats and toys. If you still want to allow your kids some candy, ice cream, or a favourite meal that they’d like to eat that week, ask them ahead of time and budget for it on your shopping list. Do you always find yourself impulse shopping in the checkout line? Try looking at your phone instead, or make a note on your shopping list to deter yourself from buying something you don’t need. 

Choose Loan Express in Times of Need

Whether some uninvited guests showed up to a party where your food budget was pretty strict, or you’re hit with an unexpected bill you can’t afford to pay, Loan Express is here to help with quick, accessible payday loans of up to $1,500. All you need to do is fill out an application and the money will be in your account before you know it. It’s difficult to navigate the current financial landscape, so let Loan Express lend a helping hand.