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Transcript: Saving on Food II

Suggested Intro: The price of food these days is enough to ruin your appetite. But don't put down that fork just yet...bankrate.com has some tips that will help you save some serious green at the grocery.

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Voice over 1: While it's true that food is getting expensive, it's also true that there are hundreds of ways to save here.

Voice over 2: For example, buying in bulk. If you can eat it before it spoils.

Voice over 3: Not buying some items will also save you money. Light-bulbs are probably cheaper at the hardware store: not bright idea to buy this sort of stuff at the grocery.

Voice over 4: Consider the lowly potato. These big individual potatoes are a buck a pound. But this 10lb. bag is 6 bucks, or 60 cents/lb. So if youíre willing to bake two small potatoes instead of one big one, youíll save 67%. And properly stored, these guys will last a month.

Voice over 5: By the way, do you ever use these handy scales to weigh the pre-weighed bags? You should. Why not buy a 5 and Ĺ lb. bag instead of a 4 and Ĺ lb. one?

Voice over 6: Another thing to be aware of is how much youíre paying for convenience. See this grated name-brand cheddar cheese? Itís .47/oz. This block of generic cheddar is .28/oz. So youíre paying 68% more to have someone grate your cheese for you.

Voice over 7: Another example? Boil-in-bag rice is easier, but making rice isnít rocket science, itís boiling water. So why would we pay 12 cents/oz. for this stuff instead of 5 cents/oz for this stuff?

Voice over 8: The rule of thumb in grocery shopping is that the more pre-prepared and processed your selections are, the more you pay. What's in your cabinets?

Standup: If you like the idea of buying in large quantity, but donít have a big enough family, hereís another suggestion. Form an informal food co-op with some friends or neighbors. Buy in big quantity, and split up the goods. For Bankrate.com, I'm Kristin Arnold.

Bankrate.com's corrections policy
-- Posted: January 1, 2008
 
 
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