Money Management: Successful Grocery Budgeting and Shopping

Table of Contents

Whys and Hows

A recent release of a survey by the RBC (Royal Bank of Canada), reported on the importance Ontario residents place on keeping their food costs under control.

In RBC’s Canadian Consumer Outlook for the first quarter of 2013 – of the 866 Ontario residents who took part in the study:

  • 80% believed food prices had increased in the last year
  • 58% said they now do more comparison shopping for food than in the past
  • 33% said that increasing food prices will have a significant impact on their budget

Whether you are in the 33% or simply want to take control of your food budget – here are some tips on successful food budgeting and shopping:

Keep Your Food Budget Reasonable and Doable

  • You stand a much better chance of making your food budget work if it is realistic.
  • Take the time to figure out exactly what you need for your food budget.
  • Write your budget down – and make a commitment to following it.
  • Track you success by recording the amount of money you spend on food. Use your receipts to keep it accurate.
  • Review and update your budget – to keep it relevant and doable.

Know Your Stores

  • Make a point of finding the grocery store that meets your needs, has consistently lower prices, and is not too hard to get to.
  • While it might be worth your while to take advantage of sales at multiple stores – remember to factor in transportation and time costs.

Know Your Prices

  • Keep a price journal / notebook – where you can track prices of those items that your routinely buy
  • It does not have to be complicated, just a lined notebook – and a commitment to keeping it current.

Make a List

  • Go through your pantry, fridge and freezer to determine exactly what you are low on.
  • Using flyers and coupons – create a shopping list of those items you will be buying.
  • Review your list to make sure it is within your budget and realistic.

When in the Store

  • Stick to your list – avoid impulse buying.
  • If you come across a great in-store sale – try to remove something of equal value from your list before you buy it.
  • Eat before you go grocery shopping – it will help you in you stick to your list.

After Grocery Shopping

  • Put all perishable foods away asap.
  • Record prices in your price notebook – using your grocery receipt(s).
  • Record the total you spent in your budget sheets.
  • Give yourself a pat on the back for taking the time to shop with a budget.

Don’t Give Up

Learn from your mistakes – and move on.

Remember

You and your financial well being are worth the effort.

Take Your First Step Towards A Debt Free Life

If you are overwhelmed by debt, call us at 1-844-962-9200 to book a FREE, confidential appointment. We will review your financial situation in detail and discuss all of your options with you. Alternatively, you can fill out the form below and our team will reach out to you. 

Share This!

The team at David Sklar and Associates Inc are very professional and are willing to help you get out of debt. Highly recommended.
Melissa MacKenzie
12:35 29 Mar 23
I would like to thank the team at David Sklar and associates inc. for all the time and effort they put in to support this process for me. This topic can be challenging to disclose but a big thank you to Christine for going above and beyond in guiding me through all my options and supporting me through the decisions. I cannot recommend this group enough , as they have shown me compassion , knowledge , and understanding throughout the entire process. I look forward to the next step of this process and learning how the proper way of becoming financially educated through the support of their financial counselling team. For anyone who is struggling , just know that there is a wonderful group of educated professionals at David Sklar who are available to help!
Michelle Plouffe
18:45 14 Mar 23
It took me awhile to get up the courage to contact David Sklar but I’m so glad I did. Trina walked through my options with me and provided the knowledge I needed to make a decision to help turn my financial situation around. She is patient and empathetic and answered any and every question that I had. Trina provided me the reassurance I needed that I was making the best decisions for me and my family. I’m so happy that I reached out and now have a plan to get back on track.
M. Mackenzie
19:59 12 Mar 23
Trina was very helpful and thorough.
Sam M
15:26 12 Mar 23
Christine was very helpful, kind, and understanding. She explained everything thoroughly, answered any questions I had, and was responsive to any concerns I had. 100% would recommend
Katherine Campbell
17:29 08 Mar 23
Jackie Stanley is excellent she took the time to explain everything to me and I am so grateful to her for giving me a fresh financial start so if you have any doubts don’t and go see her if you want to achieve financial freedom!
Heather Helfield
21:24 06 Mar 23
Amazing friendly staff that knows what they are going. They make a difficult situation not so bad. Would give 10 stars if I could.
alie Balan
22:37 25 Feb 23
Very helpful and kind and gave me all the available options before helping me decide which one was best for me. I would definitely recommend Jackie
Alison Rivard
01:01 21 Feb 23
Great experience i was in financial trouble and someone of my friends recommended this company. Cori is a wonderful and welcoming person she did a very good job and came up with a smooth and flexible monthly payment after the reduction. i highly recommend this company. Thank you David sklar and special thanks to Cori.❤️🙏🏻
Jasmine Joseph
22:08 13 Jan 23
Met up with Mr. Jason Sklar to discuss more in person, very thorough and clear. He is very kind and thoughtful, I will be referring anyone with the same situation to David Sklar & Associates.
Ariel Domingo
02:33 29 Dec 22
js_loader
DS david skalr icon

Book your free consultation.

Call 1-844-962-9200 or fill out the form below. We’ll do the rest.

Contact Us