How to save money on your grocery bill

mother and child shopping

With the cost of living pressures reaching boiling point for many Aussie families, and increases not showing any signs of slowing down; being wiser with the way you shop for your groceries could make a big difference to the amount you spend and how much you could save every week on the essentials.

So, just how do families cut costs when all the groceries that have become necessities in many households start increasing? Here are a few tips that could help reign in the spending whilst still enjoying the things you’re used to when it comes to food and household essentials for the family home.

Shop later in the day

If you love to bargain shop, then switching your shopping hours to later in the day could have a big impact on what you pay for your food, particularly when it comes to fresh food. Fresh veggies, meat and pre-prepared snacks tend to have a shorter shelf life than pantry items, so they are usually cleared out towards the end of the day, making the hours before closure a great time to find a trove of bargains in the markdown section.

Buy what’s in season

As a general rule of thumb, buying fresh produce that is seasonal tends to be a lot cheaper than buying fruit and vegetables that need to be imported or grown under specific conditions. Plus, seasonal food is usually fresher and more flavoursome as the conditions where the food is grown are optimal.

Buy in bulk 

While things may appear more expensive when you buy in bulk, it can be a game changer when what you buy lasts twice as long. You could also split costs with family and friends and split up the bulky goods. A great place to shop for bulky goods is Costco, although reaping the rewards of bulk buying comes with an annual fee to consider.

Cut back on meat

With inflation taking a huge toll on the price of meat, making the switch to more vegetarian proteins could be a great way to help cut costs on your food bill. Protein replacements like legumes, vegetables and eggs are a great substitute and cost only a fraction of the price of fresh meat, so making the switch could be worth your while.

Make a shopping list

While this seems like a logical thing to do, so many people get caught out impulse buying when they hit the supermarket, so it could pay to shop for what you need using a shopping list. Checking your fridge and pantry for what items you actually need could help you avoid buying the items that aren’t essential for the week.

Shop around

Supermarkets love to compete with one another, so shopping around for great prices can lead to big savings, especially if you take advantage of things like catalogue specials or rewards-based discounts. Apps like frugl can help you compare prices between stores, so you can find cheaper products. This is especially handy if you’re after a particular brand that is a must in your family; shopping around could save you a small fortune throughout the year.

Switch brands

It’s easy to knock the dollars off of your shopping bill by switching to generic or supermarket owned brands. Things like pasta, flour, tinned foods and long-life milk can cost dramatically less, by simply making the switch, and you might be pleasantly surprised just how well the products compare in taste and quality to the more popular brands.

If you want to know where Australians love to shop, check out the Mozo People’s Choice Awards for Supermarkets and beat inflation at its own game, by shopping smarter for your groceries.

Compare savings accounts - last updated 15 April 2024

Search promoted savings accounts below or do a full Mozo database search. Advertiser disclosure
  • Mozo Expert Choice Badge
    High Interest Savings Account

    5.75% p.a. (for $0 to $250,001)

    4.40% p.a.(for $0 to $250,001)

    Yes up to $250,000

    Bonus rate for the first 4 months from account opening

    Reward yourself with a higher rate for your good savings habits with the Rabobank High Interest Savings Account . Receive the maximum rate when you grow your balance by at least $200 each month. No Account keeping fees. No minimum balance.

    Compare
    Details
  • Savings Account

    5.35% p.a. (for $0 to $250,000)

    4.75% p.a.(for $0 to $1,000,000)

    Yes up to $250,000

    Bonus variable rate is available for the first four months.

    Competitive introductory variable rate for first 4 months (on deposits up to $250,000). No account keeping fees to pay. Multiple 2023 Mozo Experts Choice Award winner.

    Compare
    Details
  • Reward Saver Account

    5.25% p.a. (for $0 to $1,000,000)

    0% p.a.(for $0 and over)

    Yes up to $250,000

    Intro bonus rate of 5.25% for balances up to $1,000,000 for the first 4 months, reverting to 3.25%. Minimum deposit of $50 and no withdrawals.

    Introductory bonus rate for balances up to $1,000,000 for the first 4 months. Minimum deposit of $50 and no withdrawals. Start your account online in under 10 minutes and earn interest on balances up to $1,000,000 (T&Cs apply). No monthly account fees, helping you save smarter and faster.

    Compare
    Details
  • Mozo Expert Choice Badge
    AMP Saver Account

    5.40% p.a. (for $0 to $250,000)

    1.20% p.a.(for $0 to $5,000,000)

    Yes up to $250,000

    Enjoy a bonus rate when you deposit at least $1000 per month with the AMP Saver Account.

    No account fees. Unlimited transactions when linked to an AMP Bank transaction account. Easy online access to your money. Option to link your savings account to an everyday transaction account. 2024 Mozo Experts Choice Award winner.

    Compare
    Details
  • Savings+Bonus

    5.00% p.a. (for $0 to $250,000)

    2.00% p.a.(for $0 to $250,000)

    Yes up to $250,000

    Earn a generous interest rate on your at-call savings (T&Cs apply). Interest is calculated daily and paid to you monthly. A $5 monthly membership fee will not apply if your total account balances with First Option Bank exceed $1,000 or you have a credit card or loan with the bank.

    Compare
    Details
  • High Interest Save Account

    5.10% p.a. (for $0 to $250,000)

    0.10% p.a.(for $0 and over)

    Yes up to $250,000

    Deposit at least $200 to either Spend or Save account from an external source each month.

    No monthly fees on any of your save accounts. Split your money with up to 10 Save accounts. Set savings targets and track the progress of all your Save accounts. Deposits guaranteed up to $250K per customer.

    Compare
    Details
  • MoneyMAX Account

    No Current Offer

    4.75% p.a.(for $1 and over)

    Yes up to $250,000

    Unlimited access 24/7 via Banking App, Phone & Internet Banking. Interest is calculated daily and paid monthly. No transaction fees or monthly service fees. No minimum balance or withdrawal restrictions. Online access only.

    Compare
    Details
  • Bonus Saver Account

    5.00% p.a. (for $0 to $250,000)

    0.05% p.a.(for $0 and over)

    Yes up to $250,000

    Bonus rate when at least $20 is deposited each month and five Visa Debit transactions are made each month using linked Glide transaction account.

    Start saving and earn interest with just a $20 deposit and make 5 eligible transactions each month. No fees or penalties for withdrawing money.

    Compare
    Details

^See information about the Mozo Experts Choice Savings Account Awards

Mozo provides general product information. We don't consider your personal objectives, financial situation or needs and we aren't recommending any specific product to you. You should make your own decision after reading the PDS or offer documentation, or seeking independent advice.

While we pride ourselves on covering a wide range of products, we don't cover every product in the market. If you decide to apply for a product through our website, you will be dealing directly with the provider of that product and not with Mozo.