Read these tips before your weekly grocery shopping trip. You might end up saving some serious cash.
With Singapore topping the charts as the most expensive city in the world, it’s no wonder everyone is looking for that extra something that would help in cutting down their spending.
If you have a family, it’s quite impossible to spend less on groceries. We’re talking about food, toiletries, and cleaning products for the household… Those can easily add up to hundreds of dollars per trip.
And because you can’t go without visiting the supermarket every once in a while–unless you eat out all the time–being able to save money on grocery shopping would be very, very ideal.
Here are 5 hacks that will save you some money (and we’re not talking about couponing):
1. Stick to Your Shopping List
How many times have you been in the supermarket and forgot if you still have butter at home or not? And to play it safe, you buy a block of butter only to reach home and realise there are already two in the fridge waiting to expire.
Before you make a trip to the supermarket, look at your pantry and make a shopping list of what you’re lacking. Take inventory of what you need to stock up–only then should you visit your neighbourhood supermarket.
2. Buy Groceries Online
Supermarkets are designed to make you purchase more than you should, with their bright yellow signs that show buy-two-for-a-cheaper-price promotions. Even how candies and soft drinks are placed right near the counter is just another way to get you to buy more.
If you haven’t gotten much will-power, we’ll suggest that you avoid walking down the aisles of a supermarket altogether and buy what you need through online groceries in Singapore. And as a bonus, you don’t have to lug your groceries home–instead, you’ll have them delivered to your doorstep.
3. Communicate with Your Family Members
What happens if you stick to your shopping list–maybe even order your groceries online–only to find out that your spouse or family member has bought another dozen eggs and a loaf of bread because they didn’t know you went grocery shopping?
Make sure you communicate clearly with the people you live with whose turn it is to buy groceries and what to add to the shopping list.
4. Use a Cashback Credit Card
Whether you have a big family or living by yourself, groceries can make a huge dent in your wallet. And seeing as they are essentials, you can’t exactly cut down so much on costs. But you can get cash rebates.
Cash back credit cards give you rebates that you can offset in your next credit card bill. With this credit card, you get 3% cash rebate at all supermarkets and 5% cash rebate on groceries at ShengSiong.
How much can you save in a year with cashback credit cards?
|Weekly Spending||Amex True Cashback Card Annual Cashback*||POSB Everyday Card Annual Cashback**||UOB One Card Annual Cashback***|
|S$50||S$30 (first 12 weeks) + S$31.50 (subsequent weeks) = S$61.50||S$72||S$0|
|S$100||S$60 (first 12 weeks) + S$63 (subsequent weeks) = S$123||S$144||S$120|
|S$150||S$90 (first 12 weeks) + S$94.5 (subsequent weeks) = S$184.5||S$216||S$120|
|S$200||S$120 (first 12 weeks) + S$126 (subsequent weeks) = S$246||S$288||S$320|
*If you’re a first time customer, get 5% cashback for first three months, 1.5% thereafter
** 3% cashback on groceries is subject to a minimum monthly spend of S$500. Valid until 31 December 2015.
*** Min. spend of S$300 for 3 consecutive months to get S$30 quarterly, min. spend of S$800 for 3 consecutive months to get S$80 quarterly
Always use a credit card comparison tool before you apply for any card.
5. Visit a Wet Market Instead
Wet markets offer almost everything supermarkets do, but at a much lower price. From meat, poultry and fish to herbs, spices and grains, you can get your weekly grocery shopping done here for a cheaper price.
Most wet markets are only open until noon, so get there as early as possible to have your pick of the lot.
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By Ryan Ong
Ryan has been writing about finance for the last 10 years. He also has his fingers in a lot of other pies, having written for publications such as Men’s Health, Her World, Esquire, and Yahoo! Finance.