Consumers Worried About Rising Food Costs

The current drought across much of the United States has caused considerable damage to domestic crops, and many consumers are worried this could cause an increase in food prices. Should this occur, you may be able to use a signature loan if your grocery bill adds too much pressure to your overall budget and an unexpected cost occurs.

A recent survey found that 36 percent of Americans are very concerned a lack of rain throughout key parts of the country will cause a spike in food prices. Overall, 96 percent of respondents said they were at least somewhat concerned about this development.

Meanwhile, to cope with the expected rise of overall food prices, 70 percent of consumers revealed they plan to utilize coupons to save on their grocery bills, according to the survey. In addition, 60 percent plan to purchase generic products rather than branded counterparts, while 48 percent plan to buy less expensive items, such as canned goods and fewer fresh items.

Further, other consumers plan to shop only at discount grocery stores to reduce costs and buy most items in bulk, since the overall individual unit price often comes out to be much more affordable. About one-third of respondents plan to take this approach and freeze perishable goods to keep them from going bad.

Other Ways To Save

Arguably, one of the best ways to save on your next trip to the grocery store is to take an inventory of all the items you already have. Once you have this figured out you can make an exact list of the goods you actually need.

Sticking to your list once you get to the supermarket can help you avoid impulse purchases. In addition, try not to go food shopping on an empty stomach. This can influence your decision-making, so have a quick snack before you leave the house.

Healthier Foods Offer Long-Term Savings

While the price tags on processed foods are sometimes more affordable than their healthy counterparts, you can save money over time by paying more upfront. New research from the Journal of the American Dietetic Association found that households that have healthier diets actually reduce the amount of food they eat over time.

Additionally, if you have unhealthy eating habits now, this can lead to serious health issues in the future. Ailments such as diabetes, heart disease and certain types of cancer are not uncommon for people who live off of processed foods. If you are diagnosed with one of these conditions in the future, it could result in hefty medical expenses that outweigh spending a little bit more in the checkout line today.

Avoid Prepackaged Foods

Buying prepackaged goods that come washed and sliced might save you time, but can end up draining your wallet. These items generally have higher prices, so unless you have a coupon or something is on sale, you should try to steer clear.

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