DeepSummary
The podcast host, Nicole Lapin, starts by reminding listeners of her golden guidelines for a spending plan - 70% for essentials like rent and utilities, 15% for extras and fun, and 15% for long-term savings. She then focuses on food expenses, which are often overlooked but can be a major financial blind spot. Lapin provides 8 tips to save on groceries without compromising on nutrition.
Tip 1 suggests getting a meal kit subscription like Blue Apron to control weekly food spending. Tips 2-4 cover in-store strategies like avoiding eye-level products, buying only what you need, and leaving kids at home. Tip 5 recommends eating healthier plant-based meals which are cheaper than fast food in the long run. Tips 6-7 involve negotiating for discounts on perishables and following brands on social media for deals. Tip 8 recommends curbside grocery pickup to stick to your list.
Lapin emphasizes that budgeting is not about buying less food than needed, but being smart about spending on groceries. She cites shocking stats on food waste in America and advises against overbuying, even when items seem like a good bulk deal. The overall message is to be mindful of spending leaks at the grocery store.
Key Episodes Takeaways
- Food expenses are an often overlooked but major spending category that people frequently overspend on without realizing it.
- Implement strategies like meal kits, avoiding impulse purchases, eating cheaper plant-based meals, negotiating discounts, and using curbside pickup to save on groceries.
- Don't overbuy, even when buying in bulk seems like a good deal, as it leads to excessive food waste and higher costs.
- Be mindful of overspending and food waste when grocery shopping to optimize your food budget.
- While nutrition is important, eating healthy home-cooked meals made from affordable ingredients is cheaper than fast food in the long run.
- Follow brands on social media and check emails for promo codes and discounts to save on groceries.
- Stick to a grocery list and avoid temptations by using curbside pickup when possible.
- Budgeting wisely on food doesn't mean buying less than you need - it means spending more efficiently on exactly what you need.
Top Episodes Quotes
- “Beyond the vanilla coupon-clipping advice you've heard before, Nicole shares eight fresh ways to save at the grocery store.“ by Episode description
- “You may think big bulk buys save you money in the long run, but do you really need all that? A ten pound tub of peanut butter, really?“ by Nicole Lapin
- “Americans throw away $165,000,000,000 worth of perfectly good food every year. In fact, 40% of all the food in the United States today goes uneaten.“ by Nicole Lapin
- “Studies have shown that buying healthy food and cooking at home, as opposed to cheap fast food and prepared meals, are actually less expensive in the long run.“ by Nicole Lapin
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Episode Information
Money Rehab with Nicole Lapin
Money News Network
2/2/24
Food is a critical expense; you need it to survive (obviously!)… and that’s what makes it such a sneaky financial blindspot. Beyond the vanilla coupon-clipping advice you’ve heard before, Nicole shares eight fresh ways to save at the grocery store.
And, check-out this app that saves you money on groceries, while saving the planet: https://toogoodtogo.org/en/