Another way to save money is to cut your grocery bill. This can be accomplished with good planning, and that begins with knowing when to purchase certain products, says Teri Gault, CEO and founder of TheGroceryGame.com.
"The No. 1 thing to do is buy your groceries when they are on sale," she says.
Most major supermarket categories will have sales in roughly 12-week cycles, Gault says. If customers stock up on items when they're priced their lowest, they can drastically cut the amount of money spent on groceries throughout the year, she says.
Gault says TheGroceryGame.com shoppers save even more by using coupons from stores and manufacturers for additional discounts. "Usually the total savings is about 67 percent," she says.
However, you don't need to reach that percentage of savings to pocket extra cash. According to the U.S. Department of Agriculture, the average family of four can spend up to more than $1,000 per month on food.
So if you're able to shave just 10 percent off of your grocery bill by buying products when they're on sale, you could pocket an extra $100 per month or $1,200 annually, Gault says.
Potential savings: up to $1,200 per year or more.