Budgeting Tips to Help You Avoid Overspending on Grocery Shopping

Budgeting Tips to Help You Avoid Overspending on Grocery Shopping

Keeping an eye on your weekly spending habits is a task that is far more difficult for some (me) than others. That’s just the plain truth. If you’re one of those people who roams the isles of the grocery store and ends up at the register with a bill as long as the Bible, believe me – I get it.

It’s far more common than you might think. According to Suncorp’s annual Cost of Food, one in three people believe they are throwing more cash towards their food shopping than they did before the Coronavirus crisis.

So, how much are people spending on groceries?

Well, according to Suncorp’s report (which reviewed the behaviour of 1,500 Aussies in August 2020), the average household’s weekly spending is as follows:

Groceries: $130

Alcohol: $28

Dining Out: $27

Takeaway: $24

Barista coffee/tea: $14

Food delivery: $14

This totals out to $237

Do you find you spend more than this? It could be connected to the state you live in. There are slight variations in each. WA came out on top spending an average of $266 per week, with NT sitting at the bottom with a $143 weekly spend.

Here’s the full list:

Western Australia – $266

Australian Capital Territory – $256

New South Wales – $232

Queensland – $222

Tasmania – $219

Victoria – $204

South Australia – $193

Northern Territory – $143

In response to the spending report, Suncorp Acting Executive General Manager Everyday Banking, Paul Evans gave a statement regarding budgeting tips for Aussies – especially during the festive season.

He shared that flexible approaches to cooking and eating are important to keep in mind.

“Whether it’s making sourdough bread or planning a festive lunch with friends, it’s important to fund your food within a budget and eat within your means.”

“Have a clear idea on how much you can afford to spend on food each week in order to keep your finances on track,” Evans said.

The good news here is that there are loads of ways to improve your budgeting habits. The bank went on to share a list of their top-recommended budgeting tips when it comes to grocery shopping – especially during the holiday season.

Budgeting tips for grocery shopping:

  1. Make a food budget:

    “Taking a realistic look at your expenses and break it down into groceries, eating out, coffee fund etc. to keep yourself accountable.”

  2. Keep a list on hand:

    “Try to plan your menu in advance to avoid any hungry grocery-shop splurges or wasted food.”

  3. Consider switching to online shopping:

    “Online grocery shopping may come with a small delivery fee however if you go over budget, it’s easier to remove things from your basket when you’re sitting on your couch compared to at the check-out.”

  4. Experiment with more home cooking:

    “This year has seen a resurgence of home-made bread, brownies and even banana bread. If you have the time, plan some home cooking to add to your weekly repertoire.”

  5. Try to grow food yourself:

    “With a little investment and a lot of love, a herb or vegetable garden can shave dollars off your weekly grocery bill.”

Give each of these a go and see how it changes your spending each week. And if you have any additional tips, throw them in the comments section for us below!


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