Best of Money Clinic - How to keep your food bill down: supermarket hacks
Jan 10, 2024
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Laura Gaga, aka Reduction Raider, shares tips on finding yellow sticker bargains. Richard Walker, managing director of Iceland supermarkets, discusses their interest-free buy-now-pay-later loans. Topics include rising food prices, saving money on groceries, benefits of frozen foods, and choosing between fresh and frozen options.
By seeking out yellow sticker bargains in supermarkets and utilizing apps like Oli O, consumers can save significant amounts of money on their weekly food shop.
Supermarkets are offering initiatives such as interest-free buy-now-pay-later loans and loyalty programs to support consumers and alleviate the financial burden of grocery shopping.
Deep dives
Managing Rising Food Costs: Tips for Cost-Effective Shopping
As food prices continue to rise, many consumers are feeling the financial strain. One approach to combat this is to seek out yellow sticker bargains in supermarkets, where items nearing their expiration dates are discounted. By being savvy and flexible with purchases, consumers can save significant amounts of money on their weekly shop. Additionally, utilising apps like Oli O, a food sharing platform, can help reduce food waste and cut down on grocery expenses. Furthermore, exploring the world of frozen foods can be a surprising money-saving strategy, as frozen produce often maintains its nutrients and quality while offering convenience and lower cost. By adopting these shopping strategies, consumers can mitigate the impact of rising food prices on their budgets.
Loyalty Cards and Micro Loans: Supermarket Initiatives to Aid Consumers
Supermarkets are implementing various initiatives to support consumers amidst the cost of living crisis. Iceland, for example, offers a buy-now-pay-later scheme called the Iceland Food Club, providing micro loans of up to £75 to alleviate the financial burden of grocery shopping. This allows customers to repay the loans in small weekly instalments, interest-free. As part of their efforts, Iceland also introduced the Iceland Bonus Card, a loyalty program that helps shoppers save for Christmas. By embracing such initiatives and exploring options like frozen foods, consumers can stretch their budgets and receive necessary financial aid from supermarkets.
Tips from a Yellow Sticker Expert: Maximizing Savings through Reduced Price Shopping
Yellow sticker shopping, where products nearing their best before or use-by dates are heavily discounted, can yield substantial savings. By shopping with an open mind and being flexible about meal planning, consumers can take advantage of time-limited reductions throughout the day and benefit from significant discounts. Platforms like the Oli O app, which promotes community food sharing and offers free items, provide additional avenues for cost-effective shopping. While yellow sticker shopping may not work for everyone, it can be particularly advantageous for single individuals or those open to trying different options to save on their grocery bills.
First aired in September 2022, Claer Barrett takes to the supermarket aisles to find the best tips for keeping the cost of the weekly food shop to a minimum. She hears from Laura Gaga aka Reduction Raider on how and where to find yellow sticker bargains, while Richard Walker, managing director of Iceland supermarkets, explains why his chain has introduced interest-free buy-now-pay-later loans for struggling customers.
Follow Laura Gaga on instagram @reduction_raider1
And if you would like to get in touch with us about your experiences of renting property, please email us at money@FT.com or DM Claer on social media. She is @ClaerB on Twitter, Instagram and TikTok.
Presented by Claer Barrett. Produced by Persis Love and Philippa Goodrich. Our executive producer is Manuela Saragosa. Sound design is by Breen Turner, with original music from Metaphor Music.