Sam Becker in The Cheat Sheet on the #1 way American’s waste money:
Americans find a lot of ways to waste their money. If we’re not buying lottery tickets or feeding half of our paychecks into slot machines at the nearest casino, we’re finding other ways to avoid saving, or at the very least, spending responsibly.
As in, oh, I don’t know– buying iPhones instead of health insurance?
Research shows that Americans’ excess spending on food doesn’t merely come from eating out at restaurants, but from “convenience packaging” purchases, and actually throwing out or wasting the food we purchase from the grocery store. In all, there are potentially thousands of dollars to be saved every year by changing up our consumption habits.
I agree. My parents are penny-pinchers so I grew up cutting coupons and shopping at all the discount stores and different groceries in Brooklyn. Wil pointed out that if I abandoned all the coupons and shopped at only one store each week, I would save money on food. He was right.
Wherever we shop we spend more than planned or expected, so if you shop at four locations, chances are good you’re buying more. Shop at one, you buy less.