A finance expert has cautioned consumers about typical shopping habits that could reduce their savings.
Under the burden of the cost of living crisis, households are attempting to minimise expenses wherever they can. One savings specialist has broken down a few straightforward methods people can apply to reduce their weekly grocery expenditure.
The professionals at voucher platform Bountii also pointed out some “common mistakes” when utilising coupons, which could wind up costing shoppers the very amount they intended to save.
Bountii CEO Fred Harrington implored: “By incorporating these strategies into your weekly shop, you can maximise your savings without sacrificing the quality or variety of your groceries. Over time, these small adjustments can add up to significant savings, allowing you to make the most out of every penny spent.”
The specialists emphasised that just because an item may be on sale, or there may be a coupon available for it, it doesn’t mean it’s necessary to succumb to the impulse to purchase, especially if it’s a non-essential item or something that won’t be utilised frequently. Bottom line – a good deal shouldn’t be the biggest factor in deciding your purchases.
Warning against other usual pitfalls, the experts advised: “When you come across coupons or discounts for needed items, keep tabs on their expiration dates to make sure that you don’t lose the chance to economise. This recommendation applies to both tangible and electronic vouchers, as well as rewards earned from loyalty programmes – all have expiry dates.
“When using coupons, always review shop policies beforehand; misunderstanding these rules can result in being unable to use your coupons at checkout, costing you the savings you planned on.”
Despite the fact that coupons may seem outdated, conjuring up images of newspaper clippings and folders filled with physical savings vouchers, experts from Bountii pointed out that many discounts and coupons still exist, but now in a digital format. Apps and websites are an easy source for finding coupons, but this doesn’t mean shoppers should disregard traditional channels like junk mail and product packaging, they cautioned.
They further stated: “In the digital world, physical coupons can be a rare but worthwhile find, offering discounts that might not be available online. By checking these often-overlooked sources, you can find additional savings that many others might miss.”
Cashback apps and loyalty schemes were also suggested as ways households can make quick and easy savings on their weekly shopping trips. The experts also advised thoroughly planning out your larger shops to avoid unnecessary spending and also take advantage of some savings you may not have noticed otherwise.
They elaborated: “Sometimes, brands you consider to be expensive can become the cheaper option with the right discounts. By aligning your shopping list with available deals, you can significantly reduce your overall costs.
“Another effective strategy is to shop at multiple places if it’s possible. Different shops may have varying prices and promotions on different items, so by visiting a few places, you can cherry-pick the best deals on your shopping list.”
