Many people notice that time is becoming more expensive. Rising food, electricity and fuel prices are some of the expenditures that put pressure on the economy.
Ordinary people have tighter financial conditions now than they did just a year ago, says Jorge Jensen, director of finance at the Consumer Council.
Therefore, NRK has created a series of cases where consumers can get advice and tips to “live less” in these more expensive times.
First up is the food.
In February, food prices rose 4.5 percent, according to Statistics Norway. It’s the biggest monthly change since July 1981.
In July, things didn’t get much better. Food prices rose 7.6 percent within a month. Compared to July last year, food prices are now up 10.4 percent.
The Consumer Research Institute SIFO calculates each year the cost of living at an acceptable level of consumption in Norway – The so-called reference budget.
A family of four, two adults and two children, spends between 10,000 and 11,000 NOK per month on food and drink only, according to Sifo’s budget.
This means that food and drink expenses are now between 1,000 and 1,100 NOK more than they were a year ago.
– Many people I’ve spoken to, and our surveys show that there are now a lot of people who are worried as a result of price hikes. She notes that you have to start setting priorities differently and have a more conscious relationship to what the money is going into if you’re going to do the things you want to spend your money on, says consumer economist Cecily Twiettenstrand at Storebrand for NRK.
Here are some of them and the Consumer Council’s advice on how to reduce your grocery store expenses:
Get an overview of how much you want and what you can spend on food each month. Feel free to create your own food account, so you have it on your own budget.
This way, you can control how much money you want to spend.
Having a greater awareness of one’s finances Reviewing account statements several times a year and gaining more awareness of what one is spending money on is healthy for most people, says Twiettenstrand.
Shopping list and “weekly work”
By making a plan and shopping list for the week, you avoid hasty purchases.
Surveys have shown that when customers leave the store, they have more in their shopping bag than they intended. Use a shopping list and make big purchases instead of many small ones. It’s been shown that after that you get a more moderate cut in the budget, but also less food waste,” says Jensen of the Consumer Council.
Many people think that rearranging the garden takes a long timeShopping list for a week and then spending a lot of time in the store to buy everything. But according to Cecily Twiettenstrand at Storebrand, you actually do save time.
Spend some time planning, go to the store once, and you won’t have to spend more time on it for the rest of the week. She says with the money you save, you have the opportunity to put it aside and use it for something else you want.
Create a meal plan
In 2020, Norwegians discarded more than 450 thousand tons of food, and each of us disposed of about 85 kilograms of food on average.
According to Tvetenstrand, food waste is the equivalent of approximately 1,500 NOK for a family per month. It is not only bad for the bank account, but also bad for the environment.
Check what you have at home in the fridge and drawers. Make a list and plan for the week based on that and preferably have dinner or two with leftovers during the week so you can consume all the food. Don’t buy more than you eat, says Tvittenstrand.
Price per liter and kilogram – watch out for ‘deflation’
Beware of food products that shrink in size but keep the same price.
– It’s a fairly new term that’s getting more and more popular now with the price hikes. Many manufacturers make the same packaging, but with less content so it doesn’t seem as though the prices have gone up as much. You get fewer items for the same price. That’s why it’s important to pay more attention to price per liter and price per kilogram when shopping for goods, says Tvetenstrand.
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