I recently gave you my take on how to save money on groceries – big money. Numero uno was to shop at Aldi. I still highly recommend that. But what about those of you that don’t live near an Aldi or maybe just don’t like it (which would end our friendship)? How can you trim your food budget?
If you are inclined to use credit cards and groceries are one of the biggest line items in your budget (around $100 a week) there is a piece of plastic that is perfect for you. Check out the American Express Blue Cash Preferred Card. With this card you earn 6% cash back on every dime spent at the grocery store up to $6k a year – which would buy me a lifetime supply of ramen noodles. If your kids are eating you out of house and home, this can at least slow the bleeding. Think of it as a bunch of platelets coming to rescue your dollar bills.
If you aren’t a heavy spender on groceries this card isn’t for you. It carries a $75 annual fee so you’ll want to make sure that you spend enough to make it worth it. This involves math. If you aren’t good at math check out this breakdown and maybe think about attending a night class at your local community college. Amex is sweetening the pot on this card right now with a free $150 if you spend $1,000 within the first 3 months of membership. Yay. Free money.
Another perk of the card is 3% back on all of your gas station purchases which rivals the best gas rewards credit cards. You’ll also earn 1% on everything else so you won’t forego the cash rewards when purchasing that new smartphone.
There are also some great other benefits including a one year extension of the manufacturer’s warranty when your purchase is made with the card, purchase protection, car rental protection, and travel accident insurance. That makes this card even more valuable if you dabble in travel.
Don’t make this decision spur of the moment. Check it out and see if it would be good for your family. If this card isn’t up your alley because grocery stores just aren’t your thing I have one more recommendation – The Fidelity Rewards Card. This card gives you straight up 2% cash back towards the Fidelity account of your choice with an annual fee that can’t be beat, zero. It doesn’t get much better than that. Maybe it can help you jump start that whole retirement savings thing you’ve been putting off.
What’s in your wallet? What’s your favorite rewards credit card?