NEWS: April is financial literacy month. And, oh yeah, grocery and gas prices are skyrocketing.
WHAT THIS MEANS TO YOU: The more you know about how money works, the more control you have over how much you spend.
April is financial literacy month, and yes, I’m getting in right under the wire as far as acknowledging it. The need for financial literacy, though, doesn’t start on April 1 and end on April 30. Knowledge is power, and knowing how your money works gives you power over how much stays in your pocket. It’s just as important when the economy is going well as when it’s not.
The more financially literate a person is, the stronger their finances are. A national survey that’s done every two years – the TIAA Institute-GFLEC Personal Finance Index – consistently finds that financial literacy and financial stability are strongly linked. The lower people score on the index survey, the less likely they are to have low debt, money for emergencies, and the more time they spend dealing with issues related to debt and lack of money.
I’ve written about financial literacy many times in this column, so today we’re going to zero in on one aspect that’s on people’s minds: high grocery prices and what you can do about spending less at the store.
According to the U.S. Department of Agriculture, food prices in general have risen 2.7% since this time last year. Food eaten away from home (takeout, restaurants, etc.) has risen 3.8%. The prediction is that prices will rise another 2.9% this year.
Ouch! Right?
Those are averages, so a lot of what you see personally depends on your personal buying habits and preferences. You may be familiar with my Grocery Snapshot column, where I track 24 food items that I regularly buy. In the year since I’ve been keeping track, my prices have gone up 6.45%. It just shows that numbers can vary.
There’s no magic bullet to decreasing the amount of money you spend at the store. It takes some research, awareness and work. A lot of it will be familiar to you.
If you’re buying for more than one person, especially if there are kids involved, it can be a lot tougher to make changes. Look at the alternative though – continuing to pay more than you want and wondering how you’re going to make ends meet.
Before we get into my tips about saving money on groceries, a side note on a related issue: if you have the ability and resources to shop where you please, that’s all the power you need to lower your grocery costs. For many in our community, that’s not always an option. About 1-in-9 New Hampshire residents, and 1 in 7 children in the state, are food insecure. That means that at least some of the time they’re not sure where their next meal is coming from. Compounding this is the fact that many people who have trouble affording food don’t live near a supermarket and lack transportation to get to one, severely limiting their choices.
Changes in the past nine months or so to the Supplemental Nutrition Assistance Program (SNAP, the program once known as Food Stamps), have left 3 million people without benefits. This isn’t because they were misusing the program, but because it’s harder to access it. If you can afford it, keep the food pantry or other local resources in mind next time you’re at the store and reach down for a little extra for your neighbors.
Most of us have options when it comes to buying food. Looking seriously at how your options work is the key to saving money at the store. Yes, it’s work and few people “have the time” to do it. Yes, it involves a lot of stuff you’ve probably heard before. If you’re motivated to save money, though, it’s worth it.
1. Be price-attentive and food-aware. If you’re like me, you likely buy a lot of the same items week after week without really thinking about how much it may cost. It’s worth it to go through your recent receipts to check prices. Or check out your store’s website, if it has one. Understanding where the money is going is a big key to spending less of it. It also makes sense to keep track of what you’re throwing out. Check what goes into the rubbish. If you are constantly tossing that head of lettuce that you optimistically thought would lead to a week of salads, stop buying lettuce and start buying a leafy green (something easier than salads maybe?) that you’ll eat. That goes for what you’re scraping off plates, too. Stop buying things that end up as waste.
2. Make a plan. No matter what’s going on with prices, we spend a lot less on food if we plan a menu and shopping list for the week and stick to it. It takes time and, if you’re looking to lower costs, a lot of thought and some research. I won’t keep banging the drum on it, but you can either find the time or learn to live with paying more than you need to.
3. Find substitutes. Are there lower-priced alternatives for things that have gotten too expensive? If you eat a lot of red meat, most other proteins cost less these days because the price of beef has been affected greatly by rising gas prices. It’s not only transportation, but everything from fertilizer to processing. If your grocery store has an app, you can look up prices and also see what’s on sale. This week, I reluctantly subbed ground turkey into a skillet taco recipe I found online, and it tasted great, provided just as much protein and a lot less fat, besides costing less than a pound of ground beef would’ve. I also bought a box of cook and serve chocolate pudding as a way to wean myself off of my expensive ice cream habit. The pudding was about five dollars less than a quart of ice cream. I made little sandwiches with graham crackers (an old Weight Watchers recipe) and froze them, and had snacks for a week. Hardly missed the ice cream at all.
4. Vary the menu. This goes along with finding substitutes. If you’re in the habit of making the same things all the time, try some new recipes with food that costs less. I know this may seem obvious, but we’re creatures of habit and it’s hard to think of things to make, so we stick with what we know. My mom used to have to cook cheap for six kids back in the day, and I’ve tapped into some of her old recipes recently. She was big on a well-rounded recipe, so they have the benefit of being relatively healthy as well as inexpensive. Last week, I made her Tuney Noodles, and was surprised that it tasted as good as I remembered. It also kept well in the fridge, making several days’ worth of meals. And the ingredients were cheap. [Recipe included at bottom of this column].
5. Become a cook (but not a short-order cook). If you’re in the habit of getting processed food that’s easy (frozen pizzas, frozen chicken tenders, etc), or picking up something on the way home, there are a lot of ways to eat for less money and they aren’t as much work as you’d think. Preparing food ahead of time, using a slow cooker, or getting the rest of the family involved in food prep can help make homemade meals a reality. If you go this route, have a firm hand regarding the menu. Channel the attitude of those moms of the 1960s and 1970s. Saving money means being efficient about food use. As my mom used to say when we griped about what was for dinner, “I’m not a short-order cook.”
6. Frozen produce is fine. There’s a myth that it’s more expensive to buy healthy food than junk food. That’s just not true. Frozen vegetables are just as nutritious as fresh ones. They last longer and don’t cost that much. Canned tuna, dry pasta, frozen produce, and even eggs, are all inexpensive and healthy foods.
7. Go heavier on the cheaper stuff. Even though there was a big panic about the price of bananas going up last fall, they’ve stayed really inexpensive at my store. I pay 50 cents a pound most of the time for bananas. They’re healthy, come in their own organic packaging, are versatile and taste good. I eat a lot more bananas than I used to, because they’re a good snack, filling, and can be used as a fat substitute in a lot of recipes. Bananas are just an example of something you can buy more of to take the place of something more expensive that you can buy less of.
8. Coupons have never been easier. Every large supermarket chain these days has a rewards program, as well as online coupons. I was never really into coupons before I got my store’s app. Now I use it to get coupons, and have saved a lot of money. I make sure not to buy random things that I normally wouldn’t, but to use coupons for things I would normally get anyway. The rewards program for store brands was also a game-changer for me. I buy a lot of store brands for things that I never would’ve before. And you know what? They’re fine. According to my store’s app, I’ve saved $41.29 this year with coupons. In general, using a store’s app can help save money. My store provides recipes, lists the week’s specials, and shows my past purchases, but with the current price.
9. Get the kids involved. I know it’s easier for me to make changes – I don’t have kids at home or a partner to give me pushback. I can’t speak for how to deal with a recalcitrant partner or sullen teenagers. That boomerang adult child who’s living at home should be buying their own food or contributing to cooking duties. I know, it’s tough. But if you have younger kids, one great thing is that if they feel like they have a role in the decision-making, they can become the biggest advocates for change. Get the kids involved with the grocery and meal planning, as well as the research. Brainstorm about what types of things they’d like to eat that can cost less. Have them help with meal prep, or if they’re old enough, let them make a meal or two. Maybe have a special meal once a week as a reward for being good sports about the changing menu and food choices. Remember the part about tracking what’s wasted? Kids would be great at doing that detective work. If they’re a certain age, making charts or some kind of tracking board will add to the fun.
10. Make grocery awareness a habit. Yes, it takes time you likely don’t have. Once it’s a habit, it’ll be part of the routine. Checking prices, making changes based on what’s affordable, looking up recipes, tracking what’s being wasted – no one thing will save a lot of money, but the little things add up.
The bottom line is that there isn’t a lot you as a person or family can do about prices going up. The impact it has on your pocket book, though, can be controlled at least a little by the choices you make and how much work you’re willing to put into it.
Knowing how your money is working and where it goes is never a bad thing, right? In fact, it’s one of the most important things you should be doing if you’re an adult. The impact of your financial literacy and money management touches every part of your life. The groceries are just a part of it, but likely the one that you feel day-to-day. The more knowledge you have, the more control you have.
Mom’s Tuney Noodles
As promised, here’s that Tuney Noodles recipe. It’s not a casserole, more of a creamy pasta dish. I know it’s not the answer to all of your grocery price challenges, but may provide an inexpensive meal or spark some more cheap meals ideas on your end.
My mom made this frequently to feed her six kids back in the 1960s and 70s, and it’s one of the few things that was universally enjoyed by all of us. She was a stickler for always having at least one green vegetable with every meal (and usually other veggies as well). The peas are nutritious as well as adding nicely to the texture. Tuna is high in protein, while being lean. The tuna-peas sauce can also be served over toast rather than mixed with noodles. Yum!
This batch is about 6-8 servings, depending on who’s eating it.
Ingredients
- 2 tablespoons of butter
- 2 tablespoons of flour
- 2 cups of milk
- 2 teaspoons garlic powder (or to taste)
- 1 cup (or more) of grated Parmesan cheese
- Black pepper
- 1 12-oz bag extra-wide egg noodles
- 1 10 or 12-oz bag petite sweet peas
- 2 5-oz cans tuna
Directions
Cook noodles and peas (separately) as directed on packages.
While noodles and peas are cooking, melt the butter in a medium-sized sauce pan on the stove over medium heat. Once it’s melted, stir in the flour.
Once the flour is fully blended (it’ll be pasty), add in the milk, garlic powder and pepper to taste. Continue to stir until it thickens (be sure you don’t burn it! Turn down the heat if you need to).
Once the white sauce has thickened, add in the Parmesan cheese and black pepper.
Take the pan off the stove and mix in the tuna (drained) and the cooked peas.
When the noodles are done, put them in a large serving bowl.
Pour the sauce-tuna-peas over the cooked noodles and mix thoroughly. (Or spoon onto toast).
Leftovers last a few days in the fridge, and heat up nicely with a tiny bit of water, covered, in the microwave.
Substitutions
You may prefer shredded cheddar cheese to Parmesan, or try both. The white sauce can also be reduced to less than 2 tablespoons of butter, just make sure that the amount of flour and milk is reduced proportionately. It’s also good without the tuna, but the tuna gives it more of a protein boost and makes it more filling.
Cost
- 5 oz. tub grated parmesan cheese (I use the whole thing) – $4.99 (Other types of cheese may be less expensive, and it’s also not necessary to use an entire tub of parm).
- 12-oz bag of store brand Petite Peas, frozen – $1.49
- 12-oz bag store brand extra-wide egg noodles – $1.99
- 2 5-oz cans store brand chunk tuna in water – $2.58 ($1.29 a can)
- Milk, butter, pepper – less than $1
- Total – $12.05, or about $2 or less per serving.
Mangia!