I’ll admit it.  I actually enjoy shopping for groceries.  I usually shop on Tuesdays and I try to go to the store when there are fewer customers shopping.  Over the years, I’ve learned how to save money (and a little time) while shopping for groceries.  Here’s what works for me -

1.  Use a grocery store price book to track the prices of regularly purchased items.  (I’ve created a free printable version of the price book that I use.  Feel free to click the link and print out a copy for yourself.)

• The price book will help you figure out the rock-bottom prices from your favorite store or stores.
• The price book will help you know when to stock up – and when to buy just the minimum.

2.  Familiarize yourself with the layout and selection from your favorite store.

3.  Take advantage of a store’s price-match policy.

• This is especially important if you want to avoid driving all around town, just to save money on one or two items.  Take the weekly circular with you to your store of choice, find the sale items listed in the circular that you want to purchase, and then have your store price-match those items.
• If you are going to price-match more than one or two items, try to go to the store when there are fewer customers.  You’ll feel more comfortable asking for the price-match if there aren’t 10 people waiting in line behind you to check out.

4.  If an item that you want is on sale but out-of-stock, ask for a rain check.

5.  Use coupons, but only for items that you were already planning to buy.

• I usually get coupons from the Sunday paper.  I’ve also printed them from several online sites.  From time to time, our local store will send us coupons in the mail.

6.  Sample generic versions of various products.

• I have found that the quality of most generics is equal to the quality of most name brands.  Most reputable stores will give you a refund if you try their generic or store brand and you are not satisfied.

7.  Find out if stores in your area offer double (or even triple) coupons.

• My favorite local store will double coupons up to 50 cents.  So, if I have a coupon for 50 cents, they’ll take 1 dollar off of the purchase price.  I find that I can really save money when using doubled coupons and purchasing canned fruits and vegetables.

8.  Skip the grocery store and try the local farmer’s market or vegetable stand if you are looking for fresh produce.

• If you have the time, you can really save a ton of money by buying from local farmers or from local produce stands.

9.  Bring your calculator to the store – and use it!

• If you ignore all of the above, don’t ignore suggestion number 9.  I use the calculator on my cell phone.  You need to be able to figure our price per ounce or price per gallon or price per unit.  The little information stickers below most products are often wrong.  A quick calculation or two, and you’ll soon know whether to buy the 24 ounce or the 44 ounce ketchup.

10.  Pay attention to price – period.

• A lot of research goes into separating your money from you.  Ignore end caps.  Ignore where an item is on the shelf.  Ignore those bright yellow or orange “sale” signs.  Compare prices – per unit, per ounce, per pound, etc.

11.  Understand how “2 for the price of x” works at your store.

• In some cases, stores require that you actually buy 2 qualifying items in order to get the discounted price.  Other stores, while using the “2 for the price of x” signage, will actually sell you 1 item for half of x.  Know your stores’ policies.

12.  Shop with a list.

• Use your list in conjunction with your grocery price book.  List items in two columns. 1.) Items we have to have, right now.  2.) Items we need to stock up on, if they are on sale or have hit a rock-bottom price in our price book.

13.  Leave the kids at home (most of the time).

• It’s usually much easier to shop, compare prices, and get done quickly if you can leave the kids at home.  There are times, however, when it’s important to let the kids in on the process.  I’ve actually taken all three of my kids, by myself, to the grocery store, and while I’m not really able to fiddle with the price book or worry too much about using the calculator, I have managed to still save money and maintain my sanity.  The key is to stick to the list – and let the kids help whenever they can.

14.  Don’t be penny-wise and pound-foolish.

• Let’s be real.  Time is money.  It doesn’t make sense, unless you simply have loads and loads of free time, to kill ourselves to save 3 bucks at the grocery store.  There is something to be said for convenience.  From time to time, pay the extra few pennies, get home a few minutes earlier, and enjoy the evening with your family.

15.  Learn to cook from scratch – or not.

• This one is last for a reason.  There are times – many times – when it makes a ton of sense (and cents) to cook from scratch.  There are other times when it just pays to buy pre-made or pre-mixed items.  You’ll have to decide for yourself, based on your cooking skills and eating habits, which will work for you.

This is a subject about which I’d love to hear from you.  How do you save money at the grocery store?  Leave a comment and let us know.  Rock on!

This week I will continue writing a series of Back to the Basics articles.  I encourage you to subscribe to No Credit Needed via RSS or Email.  Also, if you liked this article, please consider promoting it via the social network buttons below.  Comments are always appreciated – and don’t forget to follow me over at Twitter.com/NCN.

If you are working to get out of debt, one of your goals will be to minimize the amount of interest that your creditors will charge you.  If you are working to save money, one of your goals will be to maximize the amount of interest that your savings will earn.  Here’s how to minimize the amount you will be charged and maximize the amount you will earn.

Minimize Interest Charged -

1.  Do not wait until the due date to make payments.

Most credit card companies use the average daily balance when calculating your interest charges.  What does this mean to you?  The sooner you make your payments, the lower your average daily balance will be.  The lower the average daily balance, the lower your interest charges will be.

2.  Carefully consider a balance transfer from a higher-rate card to a lower-rate card.

This one can be tricky.  Before you transfer debt from one card to another, be absolutely sure that you are committed to paying off the debt.  Our goal is to eliminate debt – not just move it around.  With all that being said, transferring debt from one card to another can make since, provided you understand the terms of the balance transfer, correctly calculate the cost of the transfer (transfer fee), and can pay off the transferred balance before the terms of the transfer expire.

3.  Get angry and attack your debts.

I can remember it like it was yesterday.  I was thirty years old, I had been working since I was fourteen, and I had almost nothing to show for it.  Sure, I had a house full of stuff, but I also had a mailbox full of credit card bills.  I can’t quantify the impact of attitude, but I can definitively state the following – Once I got sick and tired of being sick and tired, my financial life turned around.  If you really want to minimize interest, get angry, work hard, live on a budget, find another job, sell some junk, make lots of extra payments, and attack those debts!

Maximize Interest Earned

1.  Make deposits early and often.

Different banks use different methods for compounding interest.  Money saved with ING Direct (where we keep a portion of our savings) accrues interest daily and then that interest is compounded monthly.  Basically, whatever amount is in our account is multiplied, each day, by that day’s interest rate.  At the end of the month, all accrued interest is then added to our account balance.  Suffice to say, the higher the daily balance, the more interest that will accrue.

2.  Automate your savings.

Remember the old saying: out of sight, out of mind.  Build your automatic savings plan into your budget and you’ll ensure savings success.

3.  Consider a savings account which pays a higher rate of interest.

If you are comfortable with multiple accounts, consider opening a savings account that pays higher interest than your current account.  You might find a higher rate with a local bank, an online bank, or a credit union.  Be smart.  Do some research and understand all of the terms and conditions associated with any account you might open.  A good place to research rates is over at Bank Rates.  You might also consider certificates of deposit and money market accounts.

It’s extremely important, as we move from indebtedness towards prosperity, that we consistently look for opportunities to earn more (and pay less) interest.  I am not a financial professional (nor do I play one on the Internet), so I’m just like you guys.  I’m looking for ways to stay out of debt and improve my financial situation.

This post (and this week’s series of posts) is aimed at those who are just getting started and may have questions about how this personal finance stuff works.  My goal is to break-things-down and discuss the basics.  I am a big fan of keeping things simple, and I think you’ll see that reflected in this week’s posts.  Rock on!

This week I will be writing a series of Back to the Basics articles.  I encourage you to subscribe to No Credit Needed via RSS or Email.  Also, if you liked this article, please consider promoting it via the social network buttons below.  Comments are always appreciated – and don’t forget to follow me over at Twitter.com/NCN.