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TV money expert Emmanuel Asuquo, shared his top hacks to save on food shopping and considerably cut household spending.
Plan your meals
Emmanuel shared his number one tip: “Take time to plan all your meals for the week and write a shopping list. Think about how you can use the same ingredients for different meals throughout the week and make sure to use every part of the item to reduce food waste.”
Expensive isn’t always better
“Don’t be fooled into thinking expensive is better. Often, big brand and own brand products have been made in the same factory, by the same people, meaning you can get the same, for less,” he said.
Never shop when hungry
Emmanuel advised: “If you shop when hungry, you run the risk of buying more than you can eat; spend more than you budgeted and end up throwing food away. To avoid making that mistake, never go on an empty stomach, write your shopping list and stick to it!”
Needs vs wants
Emmanuel explained: “The next step is to look at your outgoings and identify the things you are spending money on and if they are needs, life essentials such as groceries, or wants such as eating out.”
Three accounts method
“The best way to manage your money is to split it into three accounts. The first account is for your fixed costs. These would typically be your direct debits. The second account would be your spending account. Your last account is a savings account,” he said.
Regular spring clean
Emmanuel suggested: “A regular household detox is a great way to declutter and make money at the same time. Selling old electronics, toys the kids have fallen out of favour with, clothes, shoes and bags at a car boot or on online selling and auction sites will make this easy.”
Packed lunches vs school meals
He said: “It’s easy to fall into the trap of opting your child(ren) into school dinners. What I have seen with my clients is that changing to packed lunches meant that they saved between £200 – £400 per year!”
“Set your fridge at or below four degrees. This can help increase the shelf life of a lot of food products such as fruit, veg and dairy. Having your fridge set to the right temperature can save you so much money on perishable items such as milk,” Emmanuel said.
The expert explained: “Position older items to the front of your cupboard or fridge and move newer items to the back. This means you can plan meals around what you’ve already got in the house and you know what needs using up and when and can even help you get creative.”
Get the family involved
Emmanuel said: “It’s never too early to teach kids about money, so why not make household shopping a family project? Getting little ones involved with meal planning and the weekly food shop means that you can instil a certain amount of savviness in them early on.”
Aldi teamed up with Mensa to help Britons save money through the new Mensa Savvy Shopping Test.
The free online portal is an everyday tool that shoppers can use to cut shopping costs.
Emmanuel Asuquo commented: “With just over a quarter of people being deemed ‘financially savvy’ by the Mensa test, it’s clear that there’s work to be done and that’s why I’m working with Aldi to create the School of Aldinomics, to show how simple decisions can make a big difference to everybody’s budget.
“Whether it’s budgeting advice or simple swaps, I will help the UK apply the Aldinomics way to their everyday personal finances and as a result, save up to £600 a year.”
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