Cut Your Grocery Bill with These Tips

How much do you spend on food? If you are like the majority of people, food is one of the top expenses in your life and although it is a vital expense for survival, many of us spend more than we need to. If eating healthy is a priority in your life and you spend a lot because of this reason, you can still cut your grocery bill without settling for highly processed cheap eats. Below are some tips to help you slash your grocery bill!

Meal Planning and Store Sales:

Rather than going to the grocery store and picking up whatever is on sale at the time, which leads to inevitable extras that you didn’t really need to pick up but you grabbed them because they were on sale, make the most of your grocery shopping while avoiding overspending.

First and foremost, check for deals before you even head to the store. Make a meal plan based on what is on sale and make a list of what you need accordingly. Look for ingredients that can be used in more than one dish, using the idea of cross-utilization.

Use apps like Fetch or iBotta to trim your grocery bill down by simply using your phone!

Shop in Season:

Another way to save significant funds at the grocery store is by eating seasonally – especially if you eat organic produce! By shopping for in-season produce, you not only get better tasting fruits and vegetables most of the time, but you also will be able to get a good amount at a significantly lower price.

Use your Freezer:

Another way to reduce your grocery bill is by saving any in-season produce that you buy on sale by preserving it. Freeze vegetables and fruit for later use!

Eating well on a budget is a skill that can be developed by following these grocery-bill-cutting tips!

Thank you once again for taking the time to read our Blogs.

Mr. Rafael Ulloa, on behalf of Madison Monroe & Associates.

Two Healthy Credit Habits to Begin

Whether your credit score is low because you have not maintained good credit or simply because you have never established credit, maintaining a good credit score is an important aspect of financial health. Below are two healthy credit habits you can employ now to establish a good credit ranking.

Use Less than 30% of Available Credit:

The amount of credit you utilize accounts for 30% of your total credit report. This number, however, only applies to credit cards, which have a total limit for credit.

Credit bureaus note consumers who use more than 30% of their available credit. Using too much makes the bureau think you rely too heavily on cards to fund your lifestyle. Even if you pay that balance off every month, the utilization is still reported to credit bureaus.

To avoid using more than 30% of your available credit, keep a close eye on your account to check the balance and divide that balance by your available credit. This calculation will generate the percentage of available credit you are using.

If you do go over 30% every month, pay half of your credit card bill before the billing cycle closes! This will help cut down your utilization ratio by the time it is reported.

Carefully Open New Accounts:

You can easily tank your credit score if you open too many new credit accounts. Credit bureaus ding customers that open too many credit card or loan accounts in a short period of time as it may be viewed as a sign of financial instability. This component makes up about 10% of your credit score.

Opening too many new accounts also brings down the average age of your credit history, a component that accounts for 15% of your credit score. Lenders look for borrowers with the highest credit history age possible so avoid opening too many accounts.

When you do open a new account, consider whether it is worth negatively impacting your credit score.

Thank You for taking the time to read our Blogs.

Mr. Rafael Ulloa