Money Rehab with Nicole Lapin - Save on Groceries with These 8 Tips

Episode Date: February 2, 2024

Food is a critical expense; you need it to survive (obviously!)… and that’s what makes it such a sneaky financial blindspot. Beyond the vanilla coupon-clipping advice you’ve heard before, Nicole shares eight fresh ways to save at the grocery store.  And, check-out this app that saves you money on groceries, while saving the planet: https://toogoodtogo.org/en/  $ Investors: Robinhood has the only IRA that gives you a 3% boost on every dollar you contribute when you subscribe to Robinhood Gold. Learn more at Robinhood.com/boost  $ Want the kiddos in your life to become money masters? Check out Greenlight, the best money app and debit card for families (and get one month free!): http://greenlight.com/moneyrehab $ Is mental health a resolution for 2024? Get 10% off your first month of therapy with BetterHelp at: http://betterhelp.com/moneyrehab  $ The secret to health and wealth is in your gut. Literally. Get 20% off a 90 day bottle of Just Thrive Probiotic and Just Calm. Try it at: justthrivehealth.com and use promo code: MONEYREHAB. $ Want one-on-one money coaching from Nicole? Book a meeting with her here: intro.co/moneynewsnetwork 

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Well, it doesn't. Charge for wasting our time. I will take a check. Like an old school check. You recognize her from anchoring on CNN, CNBC, and Bloomberg. The only financial expert you don't need a dictionary to understand. Nicole Lappin. So over a year ago, I told you about my golden guidelines for a spending plan.

Here's the breakdown. And of course, there is alliteration involved. Of what you spend, 70% should go to the essentials, like rent, utilities, car payments, and so on. 15% should go to the extras, which of course is the fun stuff like vacations, eating out with friends, that jacket you had your eye on. And that last 15% is your end game, and that's retirement, savings, a college fund for your kids, a new roof for your house, the big expenses that won't hit until the distant future. Pretty simple, right? Within that category of essentials, though, the biggest expense is probably your rent or mortgage. And then the

second biggest expense is probably food. Food is, of course, a critical expense. You gotta eat to survive. And that's, of course, what makes it such a sneaky financial blind spot for a lot of people. You go to the grocery store and you think, girls gotta eat. So you spend $25 on saffron because Bon Appetit told you to. Fast forward to dinner time and you just spent more on groceries than you would have if you had just gone out to eat. Well, that stops today. You already know the common budgeting advice for the grocery store. Coupon clipping, using coupon apps, buying generic, and meal planning. But if you're looking to level up your budgeting game for food, I have some fresh tips for you. And I want to make myself extremely clear here. I am not saying that you should buy less food

that you need. That is not how to budget. In fact, if you're budgeting correctly at the grocery store, you should be able to buy exactly as much food as you need. So let's get into it. Here are my eight favorite ways to save on food. Number one, get Blue Apron or a similar meal kit. There are so many out there. You're surprised to hear me say that, aren't you? You thought I would just tell you that the only way to save money on food is to do your own grocery shopping. No meals out. No food delivery service. No fun. Boo. No. With a subscription service like Blue Apron, you can easily make a budget because your weekly food spending will be pretty much the same every week. Plus, with gas prices right now, it might be cheaper to have meal kits delivered, everything portioned out, all the spices so you don't splurge on that saffron, and stay at home. Number two. If you're shopping in-store, don't shop at eye level. Grocers tend

to put the most expensive stuff at eye level and brands actually pay for that placement because products sitting pretty much at eye level are what shoppers focus on first. So squat on down or get on your tippy toes to find the best deals. Number three, rethink buying in bulk. You may think big bulk buys save you money in the long run, but do you really need all that? A 10 pound tub of peanut butter? Really? Because let's be real. When we buy in bulk, we often end up throwing out whatever's excess. And usually that's a lot. This is a huge phenomenon. Americans throw away $165 billion worth of perfectly good food every year.

In fact, 40% of all the food in the United States today goes uneaten. Are you guilty of this? I mean, it's not too hard to do it, right? You go grocery shopping without a list and you buy random ingredients that don't actually work with anything you have at home, or you find a new recipe that you just have to try. So you go grocery shopping again, and all of the food that you just got on your last trip gets pushed into the no man's land section of your fridge. So don't overbuy and think you're saving. Just because it seems like a good deal doesn't mean it's a good deal for you. Number four,

leave the kiddos at home. Sorry parents, I know this sounds harsh, but you know what I'm talking about. With the kids at home, you can focus on the task at hand, comparing prices and getting quality food for good meal prep. Kids begging for expensive, unhealthy items derails that mission faster than you can say fruit roll-ups. Number five, eat healthier. Quick, what's cheaper, an apple or a bag of Cheetos? Sadly for us snackers out there, it is the apple. Meat is often the most expensive item, so it might be a good time to try plant-based. Studies have shown that buying healthy food and cooking at home, as opposed to cheap fast food and prepared meals, are actually less expensive in the long run. A typical family of four will spend nearly $30 for a meal at a drive-thru window,

while a basic and nutritious meal of rice, beans, and fresh vegetables makes enough for a few days worth of leftovers for less than $10. Winner, winner, tofu dinner. Plus, you'll skip those hospital bills that may incur it if you get a kidney stone from all that salt or turn Cheeto orange. Number six, negotiate at the store. Yes, I have said it before and I will say it again. Everything is negotiable. If it's a perishable item that's nearing its sell-by date, ask for a discount. The worst thing the cashier could say or the manager is no, so why not try? Number seven, stalk social media. We all know how to Instagram stalk in our personal lives. Well, now do it for the brands you like to save money and sign up for your favorite

grocery stores or restaurants email lists. I'd recommend setting up a separate email for promotions and loyalty programs so you're not bombarded every time you log on to email. Number eight, order curbside pickup so you stick to what you need and you aren't tempted by that candy aisle at checkout. Especially do this if you're hangry. Plus, it saves you a ton of time and we all know what time is. For today's tip, you can take straight to the bank. If you liked this episode, check out episode 39, Overcome Your Financial Blind Spot, for more tips on saving money on groceries, and the best app for finding cheap or even free food near you. Money Rehab is a production of iHeartRadio. I'm your host, Nicole Lappin. Our producers are Morgan Lavoie and Mike Coscarelli. Executive producers are Nikki Etor and Will Pearson.

Our mascots are Penny and Mimsy. Huge thanks to OG Money Rehab team Michelle Lanz for her development work, Catherine Law for her production and writing magic, and Brandon Dickert for his editing, engineering, and sound design. And as always, thanks to you for finally investing in yourself so that you can get it together and get it all.