According to a new report from personal finance website called Wallethub, Louisiana residents spend the fifth highest percentage of income on groceries, with the average cost of groceries at $115 or 2% of your median monthly household income.
“And part of the reason for that is because Louisiana has a fairly low median annual income,” said Wallethub analyst Chip Lupo.
Lupo suggests prioritizing groceries in a budget ensures essential needs are met while limiting impulse buys.
“That’s the key. How many times have you gone to the grocery store, saw something alluring at the checkout counter and went and bought it whether you needed it or not? So, keep that to a minimum.”
Many are looking at ways to reduce their grocery bills. Lupo says give store-brand products a try…
“Now, there’s a lot of store-brand products that are identical to the name-brand products in taste but cost way less. You save a lot of money that way, switching over and saving money on store-brand items.”
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