When it comes to retirement, many retirees find themselves on a fixed income. Any increase in living costs can be financially devastating, which is why, when it comes to the grocery store, saving money is a must.
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The price of food can fluctuate significantly from year to year. In order to help retirees prepare for any unexpected price changes, GOBankingRates asked ChatGPT for the smartest ways retirees can cut grocery bills.
Plan Meals Around Sales (Not Recipes)
First, ChatGPT suggested that retirees plan their meals around sales, not recipes. It said to pick a few proteins on sale, add in seasonal produce and then use staples from the pantry to fill any gaps.
According to CBS News, food costs overall are up around 19.6% since 2022. Absorbing the impact of higher food prices can be challenging for retirees on limited incomes. The choice is either to cut back at the grocery store or in another area. ChatGPT noted that a grocery bill can be less expensive with “planning, price awareness and flexibility” and shouldn’t require “extreme couponing or sacrificing nutrition.”
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Shop Store Brands Almost Everywhere
Retirees can save 15% to 40% per item when shopping a store’s private label, according to ChatGPT, and most of the goods are made by the same brand-name manufacturers.
As reported by CNBC, store brands or private labels have become a multibillion-dollar industry, which has significantly increased in popularity in recent years. Additionally, the news platform reported that consumers are trusting these non-brand-name products more than ever, with 84% saying they trust the quality of a private label as much as national brands.
Use Senior Discounts Strategically
ChatGPT also noted that seniors often overlook the discounts that grocery stores offer. It explained that retirees may be able to get 5% to 10% off during a specified day of the week at local retailers or extra discounts at warehouse club stores.
ChatGPT encouraged retirees to inquire with customer service if a store’s senior discounts are not advertised.
Buy Fewer Trips, Not Bigger Carts
“Impulse purchases are the hidden budget killer,” ChatGPT said. It suggested shopping once a week, sticking to a list and avoiding shopping when hungry.
According to Capital One Shopping, 89% of shoppers report some level of impulse shopping, and over half have spent $100 or more on an impulse buy. In fact, retailers count on impulse buys from consumers. Capital One noted that impulse buying makes up around 62% of grocery sales revenue and up to 80% for some products.
Freeze Aggressively
ChatGPT also recommended using a freezer to save money. It said to buy things like meats and breads to be frozen. It also suggested freezing leftovers immediately.
Buying in bulk and freezing is a known cost-saver for many families. It can help reduce waste and ensure a quick meal down the road. It is important, however, to know what can be frozen and what might go bad over time. Also, proper defrosting is essential to ensuring food safety.
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This article originally appeared on GOBankingRates.com: I Asked ChatGPT the Smartest Ways Retirees Can Cut Grocery Bills — Here’s What It Suggested
