This is a guest post from Karen, a lifelong Money Saving Enthusiast with an MS in Education and a blackbelt in grocery shopping. She shares her knowledge on her blog and as a contributor to Mamiverse. She was recently featured on a Fox News Website. In her spare time, Karen enjoys travel, photography, and reading. For tips like this, check out her website, Money Saving Enthusiast.
You’re about to see how Minha Boneca Doll owner, Melissa Scala used the Receipt Reference Technique™ to save 75 dollars a month in 3 easy steps. And then I’ll walk you through exactly how she did it, so that you can potentially get similar or better results.
1. Melissa put her grocery receipt on her fridge after going grocery shopping. Melissa explains “I used it to determine what I was wasting in an effort to spend less money on groceries.” After putting away items from the grocery store, put the receipt right on the fridge to use as an informal inventory like Melissa.
2. She then referred to the receipt before opening the fridge. “I used the receipt to figure out what my family and I were eating and what was ending up in the garbage can. I can’t believe how many bananas and tomatoes I was throwing out!” You too can look at the receipt to prioritize your meal planning.
3. After checking off items that she used, “I realized I wasn’t going to be able to use all of the groceries before they expired. I knew I had to plan my grocery trip better. I now buy fewer bananas and tomatoes. I spend less money and make sure I use what I purchase. It also made me more aware of the cost of groceries in general. I actively pay attention to where the better deals are on the items I buy. I shaved 75 dollars a month off of my grocery bill by using the receipt reference technique.” Checking off items helps you figure out what you used and what is still in the fridge. The date on the receipt helps you to remember when you purchased the items, so you can finish them before they expire in an effort to save money and not waste food.
Melissa shaved 75 dollars a month off of her grocery bill. That’s $900 a year. Here’s another person who had great results using this technique.
Jana’s note: I think this is an interesting idea. Most people use their receipts to see how much money they saved on a particular purchase, not on what’s being wasted when they clean out their fridge or notice that something has gone bad. At least that’s what I do. However, if you’re concerned with food waste or simply just spending money on food that your family doesn’t eat, this could be a beneficial technique. It makes you focus on what you’ve bought that’s been wasted and then you can use the receipt to see the money that literally goes in the trash.